LIST OF PROFESSIONS COVERED U/S 44AA OF INCOME TAX ACT, 1961

Posted By on June 4, 2018

Following professions are covered u/s 44AA (1) of the Income Tax Act, 1961:-

1. Legal

2. Medical,

3. Engineering

4. Architecture

5. Accountancy

6. Technical consultancy

7. Interior decoration

8. Other notified professionals:-

a) Authorized representatives

b) Film Artists

c) Certain sports related persons

d) Company Secretaries and

e) Information technology

Notes:-

1. As per Explanation 2 of the sub clause (vii) of Section 9 : “Fees for technical services” means any consideration (including any lump sum consideration) for the rendering of any Managerial, Technical or Consultancy services (including the provision of services for technical or other personnel) but does not include consideration of any construction, assembly, mining or like project undertaken by the recipient or consideration which will be income of the recipient chargeable under the head Salaries.

Leave a Reply

Your email address will not be published. Required fields are marked *

DISCLAIMER

The Views expressed on this blog are strictly personal and for knowledge of our clients only. The contents of this blog are solely for informational purpose and it does not constitute any professional advice or recommendation. The laws related to GST and other taxes are under evolution and subject to constant changes and amendments over time. It is suggested to take specific legal advice and necessary due diligence before relying on the contents and information of this Blog. The authors of this blog, does not accept any liabilities for any loss or damage of any kind arising out of information on this blog and for any actions taken in reliance thereon.