Question

The aggregate of salary
income, income from
house property, profit
and gain of business or
profession, capital gain
and income from other
sources is termed as
a)Net Income
b)Total Income
c)Gross Total Income
d)Gross Profit​

Answer 1

Answer:

Under section 28, the following income is chargeable to tax under the head “Profits and gains of business or profession”: profits and gains of any business or profession; any compensation or other payments due to or received by any person specified in section 28(ii);