Professor architecture's income as income from profession

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ANIL RAVINDRANATHAN (Querist)
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14 July 2015 Hi. I am a Professor of Architecture at a college in Chennai. I would like to know if the income I receive from the college will classify as Income from Profession? Will the income received from the college for a visiting professor also qualify as income from profession. I would be obliged if you could tell me the relevant sections for this, so that I can talk to the college management, provided, I can show the income as income from profession. If I can, do I need to maintain book of accounts for the same? Your prompt reply would be appreciated. Thanks.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 July 2015 The income received by working as professor can be classified as salary and Tds applicable u/s 192. The income of the visiting professor can be classified as professional income and TDS applicable u/s 194J.
For professional income you need to maintain books of accounts

CMA Gul S

CMA Gul S (Expert)
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14 July 2015 Visiting professor is sort of a business and TDS will be deducted when you get the payment. its always good to maintain books of accounts for professional services

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