Income Tax
This query is : Resolved
02 October 2008
whether IIT'ian is a professional in case serving as a consultant at coaching class, preparing students for IIT exams
02 October 2008
If it is management consultancy or technical consultancy it is profession. Otherwise no.My answer is based on the income tax act,1961 only.
03 October 2008
No, it is not a profession.
03 October 2008
Khushbu has used the word 'consultant' in the question. So I replied as profession vide page 25 of icai publication ISSUES ON TAX AUDIT (June 2000 edition).Pl pardon me if I am wrong.
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