The following have been listed out as professions in section 44AA and notified thereunder (Notifications No. SO-17(E) dated 12.1.77 and No.SO 2675 dated 25.9.1992):
- Authorised Representative
- Company Secretary
- Film Artists/Actors, Cameraman, Director, Singer, Story-writer,etc.
- Interior Decoration
- Technical Consultancy
If a professional who falls into any of the category mentioned above also takes classes on the subject whether the fees receipts should be considered for section 44AB. Say for example if a Chartered Account has annual practice of Rs. 8 lacs and he earns tuition fees of Rs. 8 lacs he need to get his accounts audited.
Teaching or running coaching classes will be covered in the meaning of profession. Ref P Krishna Menon v. CIT  35 ITR 48 (SC).
The decision rendered in 1959, under the Income-tax Act 1922, long before section 44AB entered the statute book, [P Krishna Menon v. CIT  35 ITR 48 (SC).] may not be relevant at present. For the purposes of section 44AB, we should be concerned only with the professions covered by section 44AA. viz. legal, medical, engineering or architectural profession, the profession of accountancy, or technical consultancy or interior decoration or other notified profession. To my knowledge, the other notified professions are only (a) the profession of authorised representative, (b) the profession of film artist (actor, cameraman, director, music director, art director, dance director, editor, singer, lyricist, story writer, screenplay writer, dialogue writer and dress designer),(c) profession of company secretary and (d) profession of information technology. Teaching and running coaching classes have not been included in the list so far to my knowledge. Hence, the limit for 44AB audit in the case of a coaching institution will only be Rs. 60 lakhs after the passage of the Finance Bill 2010 for the assessment yers 2011-12 and onwards.
In the publication of the Fiscal Laws Committee of the ICAI,titled "Issues on Tax Audit",it has been opined as follows :- (a) Educational institution run by a person who does not possess any professional qualification will fall in the category of business.(b)Coaching classes run by a chartered accountant or a person possessing professional qualifications will fall in the category of profession.