Q.Which of the following is NOT a revenue receipt?

Check each option against the revenue-receipt test — no liability created, no asset reduced — and find the one that fails it. …

The correct option is (c) Loan raised from the public.

Applying the revenue-receipt test — does the receipt create a liability, or reduce an asset? — to each option:

1. Income tax collected: a compulsory tax payment; creates no liability and reduces no asset → revenue receipt.
2. Dividend from a public sector undertaking: non-tax revenue; creates no liability and reduces no asset → revenue receipt.
3. Loan raised from the public: the government must repay this in future, so it creates a liability → this is a capital receipt (debt-creating), not a revenue receipt. …

Students sometimes think any money the government 'receives' automatically counts as revenue — the presence of a resulting liability (as with a loan) is exactly what moves a receipt out of the …