Income From Other Sources - Income Notes Part - 06
Income Tax Notes Part - 06 Income from other Sources Income Tax Notes Part - 06 Income from other Sources The following ten incomes are always taxable under the head “Income from other sources”: 1. Dividend income; 2. Income from winnings from lotteries, crossword puzzles, races including horse races, etc.; 3. Any sum received by the assessee from his employees as contributions to any staff welfare schemes, if the same is not taxed as business income; 4. Income by way of interest on securities, if the same is not taxed as business income; 5. Income from letting out machinery, plant or furniture, if the same is not taxed as business income”; 6. Income from letting out of machinery, plant or furniture along with letting out of building and the two lettings are not separable (if the income is not taxed as business income); 7. Any sum received under a Keyman insurance policy (including bonus), if such income is not taxable as salary income or business income; 8. If any sum of mone