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Under what circumstances is an individual's income considered "Income from Other Sources"?
  • a)
    When the income is received from a foreign source.
  • b)
    When the income cannot be categorized under any other specific head of income.
  • c)
    When the income is received from a foreign business or profession.
  • d)
    When the income is received from a rental property.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Under what circumstances is an individual's income considered "In...
Income is considered "Income from Other Sources" when it cannot be categorized under any of the other specific heads of income, such as salaries, house property, business/profession, or capital gains. This catch-all category ensures that all sources of income are accounted for and taxed appropriately.
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Under what circumstances is an individual's income considered "Income from Other Sources"?a)When the income is received from a foreign source.b)When the income cannot be categorized under any other specific head of income.c)When the income is received from a foreign business or profession.d)When the income is received from a rental property.Correct answer is option 'B'. Can you explain this answer?
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Under what circumstances is an individual's income considered "Income from Other Sources"?a)When the income is received from a foreign source.b)When the income cannot be categorized under any other specific head of income.c)When the income is received from a foreign business or profession.d)When the income is received from a rental property.Correct answer is option 'B'. 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 Under what circumstances is an individual's income considered "Income from Other Sources"?a)When the income is received from a foreign source.b)When the income cannot be categorized under any other specific head of income.c)When the income is received from a foreign business or profession.d)When the income is received from a rental property.Correct answer is option 'B'. 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 Under what circumstances is an individual's income considered "Income from Other Sources"?a)When the income is received from a foreign source.b)When the income cannot be categorized under any other specific head of income.c)When the income is received from a foreign business or profession.d)When the income is received from a rental property.Correct answer is option 'B'. Can you explain this answer?.
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