The nature of the taxable income???
This query is : Resolved
Sridip Kumar Shaw
(Querist)
19 July 2015
Suppose Mr. A a Share Broker has earned Rs. 120000/- from share trading as a brokerage and commission then what should be the Nature of this income whether it should be treated as either income from business/ profession or income from other sources??? plz help...
19 July 2015
Taxable under the head Profits and Gains of Business or Profession.
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Sridip Kumar Shaw
(Querist)
19 July 2015
shall it be treated as business income or profession ? Because the CBDT notified the income from legal , engineering , accountancy , interior decoration etc. comes under the head profession as per U/S 44AA of Income tax act.
Nikhil Kaushik
(Expert)
19 July 2015
this will come under business.....
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