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What is the primary criterion for an income to be taxed under the head "Income from Other Sources"?
  • a)
    The income is received as a gift from a relative.
  • b)
    The income is earned from a business or profession.
  • c)
    The income is not chargeable under any other head of income.
  • d)
    The income is earned from the sale of a capital asset.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the primary criterion for an income to be taxed under the head...
The primary criterion for an income to be taxed under the head "Income from Salaries" is that it must be received by an individual as a result of their employment or services rendered in an employer-employee relationship. This includes salary, wages, bonuses, commissions, allowances, and other similar benefits received by the employee from their employer.
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What is the primary criterion for an income to be taxed under the head...
Income is taxed under the head "Income from Other Sources" when it is not chargeable under any other head of income, such as salary, house property, business or profession, and capital gains. This category covers various types of income that do not fall under the other heads.
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What is the primary criterion for an income to be taxed under the head "Income from Other Sources"?a)The income is received as a gift from a relative.b)The income is earned from a business or profession.c)The income is not chargeable under any other head of income.d)The income is earned from the sale of a capital asset.Correct answer is option 'C'. Can you explain this answer?
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What is the primary criterion for an income to be taxed under the head "Income from Other Sources"?a)The income is received as a gift from a relative.b)The income is earned from a business or profession.c)The income is not chargeable under any other head of income.d)The income is earned from the sale of a capital asset.Correct answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary criterion for an income to be taxed under the head "Income from Other Sources"?a)The income is received as a gift from a relative.b)The income is earned from a business or profession.c)The income is not chargeable under any other head of income.d)The income is earned from the sale of a capital asset.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary criterion for an income to be taxed under the head "Income from Other Sources"?a)The income is received as a gift from a relative.b)The income is earned from a business or profession.c)The income is not chargeable under any other head of income.d)The income is earned from the sale of a capital asset.Correct answer is option 'C'. Can you explain this answer?.
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