Business or profession

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This query is : Resolved

Raj Chitroda (Querist)

05 September 2019 Dear Experts,

Kindly clarify following are business or profession

1, MUTUAL FUND COMMISSION INCOME
2, TUITION FEE INCOME
3, COMPUTER JOB WORK INCOME
4, TALLY ACCOUNTING INCOME
5, DATA ENTRY JOB WORK INCOME

Experts opinion requested.

Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

06 September 2019 1 Business income.
2 to 5 Professional income.

Raj Chitroda

Raj Chitroda (Querist)

07 September 2019 Dear Sir,
Many Chartered Accountants 2 to 5 as Business Income because of Not cover defination 44AA.of Income tax Act. , that why I confused.

If you can elaborate in this issue ?
Thanks for your reply

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

08 September 2019 Professional income as per ITR includes
Advertising 16006
Fashion designing 16007
Interior decoration 16008
Photography 16009
Auctioneers 16010
Business brokerage 16011
as per business code for ITR filing.
All services other than business is considered as profession under ITR filing.

Raj Chitroda

Raj Chitroda (Querist)

09 September 2019 thanks for your valuable reply, but i want to know who cover under 44AA professional ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

09 September 2019 Lawyers
Engineers
Architects
Accountants
Technical consultants
Interior decorators
Authorised representatives, such as agents and contract negotiators
Filmmakers, a category that includes producers; editors; actors; directors; music, dance, and art directors; camera crews; singers; song and story writers; script and dialogue writers; and costume designers

Raj Chitroda

Raj Chitroda (Querist)

09 September 2019 thank you very much for your information...

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

09 September 2019 Welcome....................

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