Costing and Taxation · Ch 3 — Income from Other Sources
Terms Introduced in the Chapter
Terms Introduced in the Chapter
This section collects, in one place, every term introduced in this chapter, for quick refere …
The residuary Head of Income, catching every item of income not exempt and not chargeable under the …
Winnings from lotteries, crossword puzzles, races (incl. horse races), card games, and other games/gambling/betting — flat 30% tax, no deduction, …
Interest on Government securities and on debentures/bonds of a local authority or company, chargeable here unless held as bu …
Deductions allowed against specific items under this Head — e.g., bank collection commission and borrowing interest against Interest on Securities; the family-pension standard …
Pension received by the family/legal heirs of a deceased employee/pensioner, taxable here (not as Salary) with its own Section 57( …
Working out the Gross (pre-TDS) amount of an income item from a Net (post-TDS) figure actually received: Gross = …