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Questions and Answers
Which of the following incomes is taxable under the head ‘income from salary’?
Which of the following incomes is taxable under the head ‘income from salary’?
- Interest income from a savings account
- Rental income from a property
- Dividend income from stocks
- Salary received by a partner from a firm (correct)
Which type of income received is taxable under the head ‘income from salary’?
Which type of income received is taxable under the head ‘income from salary’?
- Gift received from a friend
- Pension received after retirement
- Salary received by a Member of Parliament (correct)
- Income from sale of personal assets
Which income is NOT taxable under the head ‘income from salary’?
Which income is NOT taxable under the head ‘income from salary’?
- Royalty income received by an author
- Salary of a Government Officer
- Profits from a business (correct)
- Consultation fees received by a doctor
What type of income is not included in the tax calculation under the head ‘income from salary’?
What type of income is not included in the tax calculation under the head ‘income from salary’?
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