Technical consultany - section 44aa

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Hi,
 
Section 44AA specifies Technical consultancy as profession. Is there any detailed explanation in income tax rules or some case law mentioning what is technical consultancy?
 
Please advice
 
Regards
Replies (7)

In accordance to section 9 of the Income Tax Act, 1961 ("the Act"), Fees for Technical Services (FTS) is defined as any consideration for the rendering of any managerial, technical or consultancy services" including the provision of services of technical or other personnel. 

Dictionary meaning of the same comes to:

Managerial: Services relating to a manager or to the functions, responsibilities, or position of management

Technical: Services relating to, or involving the practical, mechanical, or industrial arts or the applied sciences

Consultancy: the act of offering expert or professional advice in a field

HR Services and Training can be called technical services?

Selling content for blogs can be considered a technical consultancy or a "business"?

WILL MEDIA CONSULTANT IS A TECHNICAL CONSULTANT OR ITS COVERED IN 44AD/ADA

Will Insurance claim consultant be considered a technical consultant under 44 ADA considering that insurance claim requires understanding of technical and legal terms.

@ Vimal Goyal...

Yes. provided the consultant is professionally qualified..

What are some of the best insurance policies that one can opt for in the current situation?

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