Question

Describe any 10 items of income from other sources

Answer 1

Income from other sources is one of the five heads of income that the Income Tax Act, 1961 ... Dividend not chargeable to tax includes dividends exempt U/S 10(34) i.e. dividend from

Answer 2

Income from other sources is a residual category used to classify income that is not classified taxed under any other head of income. Income from other sources must be calculated by the taxpayer based on the mercantile system used by the taxpayer, i.e cash basis or accrual basis. In this article, we look at income from other sources in detail along with list of allowed deductions



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