business and profession

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mukul sharma

mukul sharma (Querist)
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29 February 2008 whether running a pathology laboratory is business orprofession for 44 AB

mukul sharma

mukul sharma (Querist)
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29 February 2008 please reply

Jitender

Jitender (Expert)
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29 February 2008 pls clerify ur query.
whether u want to confirm specified profession or tax audit.

R.V.RAO

R.V.RAO (Expert)
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29 February 2008 FOR PUROSE OF SECTION 44AA AND RULE 6F
(MAINTAINING BOOKS OF ACCOUNTS),MEDICAL,LEGAL,ENGG,ARCHITECTURAL,ACCOUNTANCY,,TECH. CONSULTANCY,INTERIOR DECORATION AND OTHER NOTIFIED PROFESSIONS ARE SPECIFIED PROFESSIONS .
OTHERS ARE NON SPECIFIED PROFESSIONS.
PATHOLOGY IS A BRANCH OF MEDICINE .A PATHOLOGIST WHO IS PRACTICING IN A PARTICULAR BRANCH OF MEDICINE CAN BE TERMED AS SPECIFIED PROFESSIONAL.
WHERE SERVICE IS MOTIVE RATHER THAN A COMMERCIAL OR BUSINESS MOTIVE, IT IS A PROFESSION.

SEC 2(13 ) OF IT ACT DEFINES BUSINESS AS A TRADE,COMMERCE,MANUFACTURE OR ADVENTURE.
SEC 2(36)DEFINES PROFESSION TO INCLUDE VOCATION.
R.V.RAO

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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01 March 2008 RUNNING A PATHOLOGY LABORATARY IS A PROFESSION

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