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Investment Insurance and Income Consultant India

HEADS OF INCOME: OTHER SOURCES

Life Insurance for FamilyEvery type of income comes under a specified heads. But there are few incomes, which don't come under any of following heads:

  • Salary
  • House Property
  • Profit In Business/ Profession
  • Capital Gains

So under Section 56(2) of Income Tax Act,1962 all such income comes in this heads of income.
There are following incomes which are taxed under this heads

  • Income coming as a dividend paid by a company to an assessee
  • Income coming from winning in lottery, crossword puzzles, races, card games, gambling or other such sports
  • Income coming as an amount received by assessee from his employer as a fund for welfare of employee
  • Income as an interest on securities
  • Income coming by letting on hire machinery, plant, furniture, building or other goods Income coming from insurance policy

Income Tax Introduction
Heads of Income
Salary
Income from House Property
Income from Profit in Business / Profession
Income from Capital Gain
Income from Other Sources
Income Tax Return
Income Tax Rates
Income Tax Dates
Income Tax Deduction
Income Tax Exemptions
Income Tax Complaints


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