Income under which head will be treated
This query is : Resolved
Anil Kumar Kedia
(Querist)
03 July 2008
Sir, I am an employee and doing part time accounts work in other organisation and get the amount through cheque. My question is : under which head i should treat this income under Income tax act.
what would be the difference if i was not working in company as an employee and my job is only accounts writing work.Then this income will be treated under which head. Please advise me
what would be the difference if i was not working in company as an employee and my job is only accounts writing work.Then this income will be treated under which head. Please advise me
03 July 2008
In my opinion in frist case it would be taxable as Salary Income and in second case it would be Income from Other Source.
MANAS ROUT
(Expert)
03 July 2008
INCOME FROM OTHER SOURCES.IF THEIR IS NO EMPLOYER AND EMPLOYEE RELATION SHIP.
Late CA Sampat Jain
(Expert)
03 July 2008
IF THERE IS NO EMPLOYER EMPLOYEE RELATIONSHIP IT IS INCOME FROM PROFESSION:::::::::::::::::::
Illustrative activities which constitute ‘profession’ - The word ‘profession’ now has a broader and more comprehensive meaning that formerly accorded to it, and its signification now extends far beyond the well-known classical professions of earlier days as the applications of science and learning are extended to other departments of affairs, other vocations, etc. The various other activities which have also now come to be termed as profession are enumerated in Corpus Juris Secundum (Vol. 72, p. 1219). These include, accountants, architects, chemists, editors, engineers, etc. The above enumeration is followed by list of persons who have been held not to be engaged in the practice of a profession. This list includes beauty culturists, brokers, insurance agents, undertakers and embalmers and various others. ‘Profession’ has to be distinguished even from ‘occupation’ which tantamounts to ‘business’, viz., an occupation which substantially the arrangement for sale of commodities - CIT v. Lallubhai Nagardas & Sons [1993] 204 ITR 93 (Bom
Illustrative activities which constitute ‘profession’ - The word ‘profession’ now has a broader and more comprehensive meaning that formerly accorded to it, and its signification now extends far beyond the well-known classical professions of earlier days as the applications of science and learning are extended to other departments of affairs, other vocations, etc. The various other activities which have also now come to be termed as profession are enumerated in Corpus Juris Secundum (Vol. 72, p. 1219). These include, accountants, architects, chemists, editors, engineers, etc. The above enumeration is followed by list of persons who have been held not to be engaged in the practice of a profession. This list includes beauty culturists, brokers, insurance agents, undertakers and embalmers and various others. ‘Profession’ has to be distinguished even from ‘occupation’ which tantamounts to ‘business’, viz., an occupation which substantially the arrangement for sale of commodities - CIT v. Lallubhai Nagardas & Sons [1993] 204 ITR 93 (Bom
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
