Question

Which amongst the following is not a head of Income?
(A) Salaries
(B) Income from house proj
( (C) Capital gains
(D) Income from exports
The term 'Income' includes the following types of incomes :
(A) Legal
(B) Illegal
(C) Legal and Illegal both
(D) None of these
In case of non-residents engaged in shipping business in India
during the financial year is :
(A) Taxable in India in the same financial year​

Answer 1

Answer:

A)

C)

A)

Explanation:

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Answer 2

D) Income from exports is not the head of Income under the Income-tax act 1961.

• They are five heads of Incomes: Income from salary, Income from house property, Income from Capital gains, Income from Profits and Gains of Profession or Business, and Income from other sources.
• Income from export is the odd one out of the other options.

The term 'Income' includes the following types of incomes :

(D) None of these

• As per the Income-tax act 1961, Income that is from a legal source is only considered as acceptable income.

• illegal income is not considered as a type of income.
• The types of income include wages, commission, salary, perks, etc.

In the case of non-residents engaged in the shipping business in India  during the financial year is :

(A) Taxable in India in the same financial year​

• Non-residents engaged in the shipping business in India  are taxable for the financial year of India.