Income from Other Source
- Any sum of money received in excess of Rs.——— without consideration is chargeable to tax.
(a) 5,000/-
(b) 5,00,000/-
(c) 50,000/-
(d) 55,000/- - Dividend received by a shareholder from an Indian company is exempt. Interest or any other expenditure incurred for earning such dividend income shall:
(a) be allowed as deduction
(b) not be allowed as deduction
(c) be allowed as deduction subject to certain conditions
(d) be allowed only if AO is satisfied that it is only interest expenditure - which of the following is not an income taxable as income from other sources?
(a) family pension
(b) Casual income
(c) director’s sitting fee for attending board meetings
(d) Rent received for house property including use of plant and machinery, where rent is separable between rent for house property and rent for use of plant and machinery. - M’s property was compulsorily acquired. He received enhanced compensation on 15.11.2018 which includes Rs. 2,30,000 as interest on such enhanced compensation.
Compute the taxable amount of interest.
(a) Rs. 2,30,000
(b) Nil
(c) Rs. 1,15,000
(d) Rs. 2,00,000 - Which of the following is not an income taxable as income from other sources?
(a) family pension
(b) Casual income
(c) director’s sitting fee for attending board meetings
(d) Rent received for house property including use of plant and machinery, where rent is
separable between rent for house property and rent for use of plant and machinery.