23 July 2015
A Clinic owned by a HUF where karta is a qualified doctor. Clinic earns income from consultancy and treatment charges. Krata being a doctor and a govt. employee only provides consultancy services and clinic utilises services of other doctors for treatment. Income of clinic from consultancy and treatment fees exceeds 25 lacs. Whether such income of clinic shall be considered as 'Income from Profession' or 'Income from Business' for the purpose of Tax Audit under Income Tax Act?
CAclubindia
