Surfindia » Finance » Income Tax » Heads of Income » Other Sources

Heads of Income: Other Sources

Every type of income comes under a specified heads. But there are few incomes, which don't come under any of following heads:
  • Salary
  • House Property
  • Profit In Business/ Profession
  • Capital Gains

So under Section 56(2) of Income Tax Act,1962 all such income comes in this heads of income. There are following incomes which are taxed under this heads
  • Income coming as a dividend paid by a company to an assessee
  • Income coming from winning in lottery, crossword puzzles, races, card games, gambling or other such sports
  • Income coming as an amount received by assessee from his employer as a fund for welfare of employee
  • Income as an interest on securities
  • Income coming by letting on hire machinery, plant, furniture, building or other goods Income coming from insurance policy

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