Classification of Head of Income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
22 November 2010
A lab technician(not a qualified doctor) is running a hospital having gross receipt of around 24 Lakhs. The hospital is run by the salary paid doctors employed under him. For the lab technician,are the hospital receipts income from business or profession? Is he liable to get tax audit done?
CA.Madhusudan B.P.
(Expert)
22 November 2010
Specified Professional as per Sec 44AA, includes Legal, medical, engineering ........ etc.,
In my opinion, it may cover under the profession : "Medical" And consequently Sec 44AA would apply & Audit U/s 44AB applies as the gross receipts exceeds Rs.15 lakhs(Upto F.Y.2009-10 limit was Rs 10laksh)
In my opinion, it may cover under the profession : "Medical" And consequently Sec 44AA would apply & Audit U/s 44AB applies as the gross receipts exceeds Rs.15 lakhs(Upto F.Y.2009-10 limit was Rs 10laksh)
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