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Income tax provides the method to compare the total income of an assessee. It is divided into five heads. What are the five heads of incomp under total income? |
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Answer» The five heads of income are: 1. Income from ‘Salaries’ [Sections 15 – 17]; 2. Income from ‘House Property’ [Sections 22 – 27]; 3. Income from ‘Profits and Gains of Business or Profession’ [Sections 28 – 44]; 4. Income from ‘Capital Gains’ [Sections 45 – 55]; and 5. Income from ‘Other Sources’ [Sections 56 – 59] |
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