Ram Sahai, president of the Jammu Chamber of Commerce and Industry, was found shot dead in his office on Wednesday afternoon, police said.
"He was in his office chamber when the incident happened. We are still trying to ascertain whether it is a suicide or murder," a police official said.
Office employees rushed into Sahai's room after hearing the gunshot and found him lying on the ground. They took him to the Jammu Medical College Hospital.
Hospital sources said Sahai was "brought dead" with a bullet injury on right side of the head.