perquisite under sec 28

This query is : Resolved

asha fernandes (Querist)
Follow

04 August 2008 dear sir,
if a doctor ( consultant physician) receives gifts in kind from diagnostic centres will it be considered as perquisites arising from the excercise of the busines. and business covers profession.

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
Follow

05 August 2008 No.

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
Follow

05 August 2008 Any gift rceived from a Diagnostic Centre which is otherwise convertible in cash is a receipt from profession u/s 28(iv) of the Income Tax Act. However, gift received on any occassion which can be distinguished from the one resulting from the professional performance will not be treated as a professional receipt.

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
Follow

05 August 2008 Further to the query posted in comments the reply is as per under:

The nature of receipt from the diagnostic centre against the patients sent to lab for diagnosis suggests that it is a receipt in kind which may be converted into cash and as such is a income u/s 28)iv)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

deepak

Sasidhar B

Aniruddha Mody

Vinod Patil

THOMAS JOHN

Subscribe Now

perquisite under sec 28

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

Article Assistant

GST CONSULTANCY

CA Final