Contract vs Professional Services

Ankit Satia (Service - Manager in Internal Audit Dept)   (235 Points)

22 December 2010  

What is a definition of words "Contract" & "Professional Services" in light of provisions relating to TDS under Income Tax Act,1961. 

How to draw difference between  "Contract" & "Professional Services" when a services rendered by person can be prima facie covered under "contract" & "professional services" both.