CA Shiv
(Business Controller)
(2987 Points)
Replied 12 July 2010
Hello,
I think so it will be IOS....
I agree with Traptis explanation, but what will be your answer if it there is any organisation like NGos.
So i will consider it as IOS and also he is receiving gifts from Laymen( in any nature). so will be considered as gift only and not salary or any business income....
Jibin Thomas
(CA Final,B COM(H))
(109 Points)
Replied 12 July 2010
hi...a church is a not for profit organization....and thus the income of a priest is not a PGBP income ........... since their is no employer employee relationship.............and therfore the income of a priest is not a salary income........................and therefore in my view the income of a priest is taxable under income from other sourses................
Prasad R
(CA Final)
(2128 Points)
Replied 12 July 2010
It should be treated under the head income from other sources.
Vikas Gupta
(CHARTERED ACCOUNTANT)
(16295 Points)
Replied 12 July 2010
| Originally posted by : Prasad R | ||
 |
It should be treated under the head income from other sources. |
 |
CA-AK
(CA)
(600 Points)
Replied 12 July 2010
No doubt its income from business & profession because he spends most of his time in his work
Sanjeev Verma
(none)
(35 Points)
Replied 12 July 2010
Priest's income should be charged U/h other sources.
These should be treated as simple gifts and taxed u/s 56(2)vii. as employer employee relation does not exist.
CA Mahaveer Jain
(CA)
(75 Points)
Replied 12 July 2010
its not the business income.....it should b charged under IFOS....
CA Ankita Karia
(CA)
(100 Points)
Replied 12 July 2010
of course. it will come under IFOS......... as no employer employee relationship, nor profit motive.......... besides ifos being a residuary head...... any thing which doesnt cum any where cums here
C.A Trapti varshney
(CA (ranker) B.com C.S)
(125 Points)
Replied 12 July 2010
hi aamir,
u put up a question about profession . but i talked about business. Profession is defined u/s 2(36)
"The word profession implies professed attainment in special knowledge as distinguished mere skill. Aprofession involves labour, skill, education and special knowledge and implies a vocation requiring higher education and learning....................."
So if a c.a. / c.s. / doctor receives something it will be treated as profession and u know very well that income from profession is taxed u/h PGBP.
pls correct me if i m wrong somewhere
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
