“Income from other sources” is the residual head of income. Hence, any income which is not specifically taxed under any other heads of income will be taxed under this head. Further, there are certain incomes which are always taxed under this head, such as 1) Dividends 2) Winnings 3) Interest 4) Agriculture Income 5) Royalty 6) Insurance Commission 7) Casual receipts and receipts of non-recurring nature etc. From this perspective, Filing Mantra is the ideal service provider for self-employed and freelancers in India for income tax return filing and refund claims.
Income which does not come into any of the below four categories are considered as income from other sources. In the income return form, there is a...
Agriculture is the main source of income for Indian economy.70 percent of our population is depended upon agriculture and derives its income from a...
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