Tution Income, whether professional Income or Business income????
12 Replies
C.A SHASHANK GOYAL
(Chartered Accountant)
(362 Points)
Replied 19 July 2011
HI, in my opinion tution income should be professional income and not bussiness income reason being if it is being backed by some special knowledge that is carrying out any CA or CS then it is professional income otherwise it wil be taxable under the head income from other sources .
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 19 July 2011
when its above 1.5 lacs per annum go for professional income and pay profession tax enrollment tax, maintain minimum books of accounts
when its below 1.5 lacs, it may be professional income or income from other sources
Mohana Harish
(AUDIT TEAM LEAD - CA FINAL)
(468 Points)
Replied 20 July 2011
Basically It Comes under professional income because one render such service by using his skills & talents accquired during his studies & practical teaching . so in this point of view it is considered as professional income it is not business and other wise it is treated under income from other sources
Sumiti Jain
(FP)
(1364 Points)
Replied 20 July 2011
| Originally posted by : Mohana Harish | ||
 |
Basically It Comes under professional income because one render such service by using his skills & talents accquired during his studies & practical teaching . so in this point of view it is considered as professional income it is not business and other wise it is treated under income from other sources |
 |
CS,CA F,Numrologi TusharSampat
(CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)
(85930 Points)
Replied 20 July 2011
| Originally posted by : U S Sharma | ||
|
|
when its above 1.5 lacs per annum go for professional income and pay profession tax enrollment tax, maintain minimum books of accounts when its below 1.5 lacs, it may be professional income or income from other sources |
|
AGRRED.
Amol Gopal Kabra (CA,CS,DISA)
(Practicing CA)
(8639 Points)
Replied 20 July 2011
It will be Professional Income.
CA Adesh Gupta
(Finance Manager)
(160 Points)
Replied 20 July 2011
It will be peoffesional income, u cannot say it as business income
ADVOCATE YOGESH NARANG
(PROP)
(34 Points)
Replied 25 March 2012
yes agreed with above this covered under profession income
raj
(student)
(26 Points)
Replied 29 March 2017
Give reference of the section under the income tax Act which classifies this as professional income.
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