Precautions to be taken while calculating national income through inco

1.	Precautions to be taken while calculating national income through income method.
Answer» 1. Income from owner occupied house to be included. 2. Wages & salaries in cash and kind both to be included. 3. Transfer income should not be included 4. Interest on loans taken for production only to be included. Interest on loan taken for consumption expenditure is non-factor income and so not included.

Precautions to be taken while calculating national income through income method.

Answer»

1. Income from owner occupied house to be included.

2. Wages & salaries in cash and kind both to be included.

3. Transfer income should not be included

4. Interest on loans taken for production only to be included. Interest on loan taken for consumption expenditure is non-factor income and so not included.

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Precautions to be taken while calculating national income through income method.

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