Profits and gains of business or profession



Profits and Gains of Business or Profession - Expense
Income from any businessorprofession is taxable under this head. Business implies purchase and sale of goods or rendering of services with a view to make profit.

Profits and Gains of.. 'Business or Professions' of GTI
Under Section 28 to 44 of the Income Tax Act 1961, ProfitandGainsofBusinessorProfession form part of Total Income of an assessee. This head is the most important source of tax collection for the Government. The computation of income under this head is a very complex and difficult method but.

Profits and Gains of Business or Profession - [PPTX Powerpoint]
Business implies purchase and sale of goods or rendering of services with a view to make profit. It includes manufacturing also. Profession requires “Special Knowledge” or manual skill like work of lawyer, doctor, CA etc. it includes vocation also.    Section 28 Profits of any businessor.

Profits and Gains of Business or Profession - Expense
Income from any businessorprofession is taxable under this head. Business implies purchase and sale of goods or rendering of services with a view to make profit.

Income from Profits and Gains of Business or Profession
Simply, Business means any activity that is carried on with the intention to earn profits. Profession includes services provided by the technically qualified or professionally qualified person