Question

Doctors earnings assessable under the head
a. business income
b. professional income
c. capital gains
answer?​

Answer 1

Explanation:

professional income

this is the answer of your question

Answer 2

Doctor's earnings are business income and assessable under the head Income from Profits and Gains of Business

• The income of a doctor is a professional income. This is so because doctors normally don't run a business where they acquire and sell assets or things; instead, they give professional services.
• These professionals are expected to declare their gross receipts or earnings from their medical practice under this heading.
• After this, the permissible costs they incurred are deducted in order to achieve that revenue and pay taxes on the net income they generated.
• Rent for the clinic, employee salaries, cost of medications and medical supplies, and other costs associated with running a medical practice are all examples of allowable charges.
• Therefore, income earned by doctors is typically regarded as professional income and is assessable for tax purposes under the heading "Income from Profits and Gains of Business or Profession.

#SPJ3