List of specified professions

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Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2011 Where can I find a list of Specified Professions? The incometax site points towards Taxmann's Master Guide, but is there someplace online where I can get this list?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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26 July 2011 You may search on Google by providing the search links-
Notification No. SO 17(E) dated 12-1-1977
Notification No. SO 2675 dated 25-9-1992
Notification No. SO 385(E) dated 4-5-2001.

Querist : Anonymous

Querist : Anonymous (Querist)

26 July 2011 Thank you Mr Bafna. I have checked the links they mention only authorized representatives and Film Artistes.

My profession comes under Code 0703 (Consultancy Services). My TDS was done under S.194J (Technical Services), Is this a specified profession and will I have to file the ITR4 or the Sugam? My profits are above 8% and my Gross Receipts are well below 10 Lakhs.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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26 July 2011 For the purpose of Section 194J, Professional Services has been described in Explanation of Section 194J. Further reference to Section 9(1)(vii)'s explanation No2 can be made for academic purpose.

When your TDS has been deducted under Section 194J, then you can (should) show your source of income as profession only.
You have to maintain Books of A/c, and being a consultant, that will not be a difficult task for you.

Further your income is sufficient , so there is no risk, even if the declared profession is treated as business as Section 44AD conditions have already been excelled by you.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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26 July 2011
Also refer section 44AA(1) of the Income tax Act,1961 in www.incometaxindia.gov.in

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