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PGPB OR PROFESSIONAL INCOME

ABHISHEK GUPTA (CA ARTICLE) (115 Points)

21 March 2019

whether photo studio (wedding shoot also) income taxable as business or professional .?
(44AD OR 44ADA)

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6 Replies

Giridhar S Karandikar (Team Lead) (7543 Points)
Replied 21 March 2019

professional income

Priya Kashyap (Student) (7048 Points)
Replied 21 March 2019

pgbp
bcoz here he'll incurr expenses and earn revenue and take away profits from his photoshoot biz

1 Like

RAJA P M ("Do the Right Thing...!!!") (127463 Points)
Replied 21 March 2019

Yes... It's under Professional head &

May be some of the view it will under Business** head...
&
Mr Abhishek.,
PGPB is also include business & Professional income. Both are under PGPB...
But, We can consider our income to which one as given above.

Venkatesh Ganta (13 Points)
Replied 21 March 2019

It is chargeable as Profession under the head PGBP, but not as business as the term business is defined as any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture

venkata krishna reddy (chartered accountant) (792 Points)
Replied 22 March 2019

Originally posted by : Venkatesh Ganta
	It is chargeable as Profession under the head PGBP, but not as business as the term business is defined as any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture