Fixed income: Income that remains stable over a period of time is called fixed income. It is always positive. E.g. rent, wages, etc.

Fluctuating income: Income that is not fixed but keeps on changing is called Fluctuating income. E.g. profit. It can be positive, negative, or zero.

Money income: Income received in the actual currency of the country is called Money income. It is the income in cash, E.g. ₹ 70,000. 

Real income: The purchasing power of money income is called Real income. E.g. Commodities purchased out of money income. 

Contractual income: Income paid as per the terms and conditions of the contract is called Contractual income. E.g. rent, wages, etc. 

Residual income: Income that is left over after making payments to all factors of production is called residual income, E.g. profit.

Earned income: Income obtained after participating in the productive activity is called Earned income. E.g. rent, wages, interest, profit. 

Unearned income: Income received from all sources without indulging in any productive activity is called Unearned income. E.g. windfall gains, lottery prizes.