Professional receipt taxable as Income from Profession & not under Salary

Jayaram Rangan Vs ACIT (ITAT Chennai)

ITAT Chennai held that professional fees received cannot be taxed under the head Salary merely because consultant/ professional is appointed as managing director of the company. Various details filed undoubtedly proves that professional service is rendered and accordingly taxable under ‘income from profession’.

Facts- During the course of assessment proceedings, it was noticed that the assessee derives consultancy income from M/s.

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