Income Tax Law & Practice-II (Income from other sources)

Gift received from My Wife is…..

• A) Exempted

• B) Partly taxable

• C) Taxable

• D) All of the above

T.D.S. is not deducted on lottery income up to…..Amount

• A) 10,000

• B) 15,000

• C) 5,000

• D) None of the above

------ is a casual income

• A.Interest received

• B.Dividend income

• C. Person received

• D. Winning from lotteries

Income from other sources is a................. 

• A. Residuary head of income. 

• B. Major head of income. 

• C. Income from a single source.

• D. Constant and regular income.

Which one of the following is not an income from other sources?

• A. Interest on fixed deposit in bank. 

• B. Winnings from cross word puzzles. 

• C. Gift in excess of Rs.50,000 from an unrelated person.

• D. Profit on sale of building.