Meaning of Profession
This query is : Resolved
CA. Niranjan Kumar
(Querist)
15 July 2009
What is the meaning of Profession for the purpose of Income Tax Act? A persion providing the service of Video editing & making advertisement, whether it falls in meaning of Business or Profession?
CA Debasish Banerjee
(Expert)
16 July 2009
An occupation for which official qualifications are needed and which is often made a lifelong career
Professions such as a lawyer, doctor or chartered accountant, cost accountant, company secretary.
Making advertisement or editing video do not require special qualification and hence not a profession.
Professions such as a lawyer, doctor or chartered accountant, cost accountant, company secretary.
Making advertisement or editing video do not require special qualification and hence not a profession.
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CA Bosu babu
(Expert)
16 July 2009
Advertisement agency received commission from media....will attract 194J
other exs:Professional cameraman, Film artists,
but in ur case if he is just normal video grapher then 194C will attract....as well as for advertisement provided other conditions like bill amount etc....
other exs:Professional cameraman, Film artists,
but in ur case if he is just normal video grapher then 194C will attract....as well as for advertisement provided other conditions like bill amount etc....
CA Bosu babu
(Expert)
16 July 2009
professional; services see 194J section they have notified the some services,
also recently in 2008 one notificat issued to add sports persons as professional.....
also recently in 2008 one notificat issued to add sports persons as professional.....
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