INCOME FROM OTHER SOURCES

Which of the following is NOT taxable under the head "Income from Other Sources"?

• Lottery winnings

• Gift from a relative

• Rent from plant & machinery

• Interest on compensation

What is the tax rate on winnings from lotteries?

• Normal slab rate

• 20%

• 30% + cess

• 10%

Dividend received from an Indian company is taxed under:

• Capital Gains

• Salaries

• Other Sources

• Exempt income

Interest on enhanced compensation is allowed a deduction of:

• 100%

• 20%

• 50%

• Nil

Family pension is allowed a deduction of:

• ₹15,000 or 1/3rd, whichever is less

• ₹1,50,000

• ₹10,000

• 100%

Advance money forfeited after 1.4.2014 is taxed under:

• Capital Gains

• Business Income

• Other Sources

• House Property

Gift of immovable property without consideration is taxable if SDV exceeds:

• ₹10,000

• ₹1,00,000

• ₹50,000

• ₹5,00,000

If gift value exceeds ₹50,000, how much is taxable?

• Only the excess over ₹50,000

• Nil

• Full value

• Depends on gift type

Car received as a gift is:

• Taxable under Other Sources

• Exempt as not covered under "property"

• Taxed at 10%

• Added to business income

Compensation for termination of employment is taxed under:

• Salaries

• Capital Gains

• Other Sources

• Exempt income