According to Income Tax rule, Proprietorship Nursing Home is a profession as it is an individual's medical profession. But a Partnership Nursing Home is Business or Profession? Is there any clear provision in Income Tax regarding this matter ?
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Partnership Nursing Home is Business or Profession ?
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Quick Summary
It should be a Profession since as per IT act both Individual and Firm comes under the definition of Persons. Further, the fact that Proprietorship Nursing home is a classified as Profession and not business, so shall a Partnership Nursing home in the same manner.
But judgement given in following cases that Partnership Nursing Home is business:
Shalini Hospitals vs. Asstt. Cit on 26 May 2006
Chaurasia Nursing Home Chipi (Dr.) vs. ITO
So, please tell me whether a partnership nursing home is business or profession ?
Try comparing the facts of the Case if it matches then I think we have to follow the above Judgement
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