Which Head of Income

Page no : 3

C.A Trapti varshney (CA (ranker) B.com C.S) (125 Points)
Replied 12 July 2010

hi shivang as far as i know NGO's are profit making concerns.

CA. Rajesh P. Ahir (In Service @ PSU) (687 Points)
Replied 12 July 2010

as per my opinion when there is specially provided for gift income to be taxed under the head other source. than it should be be taxed under O.S....?

harish .k (STUDING) (306 Points)
Replied 12 July 2010

it should be taxed under profits & gains of bussiness / profesion and not under other source f income

regards

Harish

CA Amit Kumar Khaitan (Research Analyst) (360 Points)
Replied 12 July 2010

Business includes a vocation

vocation is something that a man does or carries out as a way of his life.

a priest is having a vocation of priesthood

he is to b taxed under PGB P

Nitin Grover (CS) (1228 Points)
Replied 12 July 2010

Originally posted by : Trapti varshney
	It cannot be charged as business income b'coz its not a business As per sec 2(13) to regard an activity as business , there must be a course of dealings , either actually continued or contemplated to be continued with a profit motive not for sport or pleasure. hence not a businee n cannot be taxed under business profession. i hope u got this point.