File as business or professional?

I have a business teaching the arts to students worldwide over the internet. I teach some students directly and some others via a network of teachers who pay me a referral commission. Would this be a "business" or a "profession"? How do I justify calling it a business since the tax for businesses is only on 8% of earnings (while it is 50% for prefession)?

 

Replies (1)

Yours is Vocation, and not business. Only ITR 4, where in you can deduct all the expenses actually incurred. From next year minimum 50% rule shall apply. So enjoy actual expenses this year, which can be more than 50%!!

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
17 August 2026
Chartered Accountant with US GAAP Experience

Austin Med Solutions Pvt Ltd

Bengaluru

CA

View Details
Company
27 August 2026
ACCOUNTANT

CHARUPREETI & CO

Noida

Graduate (Any)

View Details
Company
ARTICLESHIP 01 September 2026
Articles

Saini Pati Shah & Co LLP, Chartered Accountants

Mumbai

CA Foundation

View Details
Company
24 August 2026
Semi-Qualified CA/CA Finalist - Tax, GST, Audit & Accounts

Bharat Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details