perquisite under sec 28
This query is : Resolved
asha fernandes
(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.
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
(Expert)
05 August 2008
No.
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.
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)
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
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- 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
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
