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perquisite under sec 28

This query is : Resolved 
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(Querist)
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.
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
05 August 2008 No.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
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.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
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)
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