Income from Other Sources- Conclusion
We introduced ourselves to what comes under Income from Other Sources, some typical varieties of incomes covered in it
Income from Other Sources- Conclusion Read More »
Income from Other Sources
Typical income types under Other Sources
-Variety Dividends on Shares -Variety Interest -Variety Family Pension -Variety Gifts -Variety The Lottery/ Winnings from Games
Typical income types under Other Sources Read More »
What is Income from Other Sources
As the name suggests, this covers any and everything that I earn under the sun (and the clouds) that doesn’t come under any other category. So this is really a residuary head.
What is Income from Other Sources Read More »
Income from Other sources-Objectives
Objective: The objective of this module is to grasp what is called the income put under the category ‘Other Sources’. We will go through this on following lines: What is Income from Other Sources Typical income types under Other Sources -Variety Dividends on Shares -Variety Interest -Variety Family Pension -Variety Gifts -Variety The Lottery/ Winnings
Income from Other sources-Objectives Read More »
Variety interest
Variety Interest All interest incomes, whether it be on my saving bank, my fixed deposits, my debentures, or any other investments such as in Post Office schemes are included here. There are some freebies, which I will see in ‘Deductions’ module.
Variety gifts
If someone (except family) gifts me any money or even an asset, I don’t count this as income so far as total gifts received in a year don’t cross Rs.50,000. Gifts over such amount are my income. It can be a any gift :money gift, it can be a house property gift, or a jewellery gift. Gifts from family and gifts