Tax case(plz help me crack)

816 views 3 replies

hi frnds this is Dhaval.

I have a frnd who is a qualified engineer nd works at a recognised IT firm

however he is even a DJ

and he earns a lot from his DJing stuff

i wanted to knw wheather DJing income shld fall under IFOS or PGBP

the thing i would lyk u to note is that income from djing is considerably large as much as 5 times of his salary.

I was of the view that it shold fall under PGBP

bt  he does nt hav ne professional degree in dis regards

he is a self-aclaimed professional

and its nt a onetime income

he has a long term view in this regards

so under which head shold it fall

Replies (3)

i think it should fall under PGBP head

Mr. Dhaval....

Though u r friend is in Dj profession which is not a recognised prefession under Income tax...

the income which is generated by him can be taxable as PGBP as business income and not as prefossional income

Income from Dj activity should be taxable under PGBP. no doubt in that.. 

if u r specific about whether it is business or profession...then as per my conception..

it is a profession....it cant be in business...u r not buying or selling something...u r charging fees for u r special skill..its a profession...

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