what is non casual income
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Non Casual Income refers to the economic resource obtained from other than casual activities.
Explanation:
Non Casual Income refers to the economic resource obtained from other than casual activities.
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Similarly, capital gains, receipt from a business or an occupation and one-time benefits like bonus given to employees are not casual incomes. ... They are treated as income from other sources and are taxable u/s 56 of Income Tax Act.
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