My brother is doctor. He is not practicing but he visits hospitals and clinics and he get professional fees from there. So this professional fees will be charged under head income from business or profession or it will be charged under the head income from other sources.
If it will be charged under income from business or profession then can i file a return U/s 44AD @ 8% on gross receipts.
31 January 2013
Dear Friend, The nature of income depend upon the agreement with the hospitals, some are considering it as salary and some are considering as profession fees. You can charged it as income from business or profession if received as professional fees.He can not be assessed under section 44AD. Thanks
Querist :
Anonymous
Querist :
Anonymous
(Querist)
31 January 2013
Thanks all
Can he claim expenses like travelling, telephone etc which he has incurred for earning that income?
And is it necessary to fill balance sheet and P/l in ITR-4 if he is not liable to maintain books of accounts.
CAclubindia
