Yes, income tax is applicable on advisory services in India. Individuals, firms, LLPs, or companies offering advisory or consulting services must report the income earned under the head "Profits and Gains from Business or Profession" in their income tax return. Here’s how it applies: Individuals & Firms: Taxed at slab rates (individuals) or flat rates (firms at 30%). Companie... https://genzcfo.com/income-tax-advisory