. . 2(13) – Tax Questions and Answers

Section: 2(13)

  • Whether Radiology And Pathology Operated By Doctor Is Business Or Profession?

    S. 2(13) of the Income-tax Act, 1961 defines ‘business’ which includes any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture. The word ‘business’ is one of wide import and it means activity carried on continuously and systematically by a person by the application of his labour or skill with a view to earning an income.