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Nature of business


Akanlsha S. (C.A. Final Student)     23 January 2020

Akanlsha S.
C.A. Final Student 
 29 points

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My friend run a fitness training centre.
What will be the nature of business for dance and fitness centre? will it fall under other professional services or under coaching centre and institutions??

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JAI BHOLA   23 January 2020

JAI BHOLA

 49 likes  504 points

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Other professional services

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rama krishnan   24 January 2020

rama krishnan

 921 likes  9935 points

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No it'll not come under professional services rather it'll be treated as business

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CA Kiran Sutrave (CA)     26 January 2020

CA Kiran Sutrave
CA 
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Business

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Kapadia Pravin   26 January 2020

Kapadia Pravin

 911 likes  14263 points

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Income will be taxable under PGBP.

There is no business type activity (sale purchase). So it's providing services.

And services are also inhouse and customers avail it considering it as training and fitness centre providing such services by experts in this field.

And hence it's correct to classify it as other professional services.

RAJA P M ("Do the Right Thing...!!!")     26 January 2020

RAJA P M
"Do the Right Thing...!!!" 
 8048 likes  110020 points

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The Fitness training CENTRE income is PGPB as Business...


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