1.

What is the meaning of vocation under income tax Act

Answer»

Answer:

Vocation simply means a way of living for which one has a SPECIAL fitness. ... So vocation simply means any type of activity in which a person is ENGAGED and he earns his livelihood from such activity. Any GAIN or receipt arising out of vocation is certainly taxable under this head of income.

Explanation:

Hope that helps you



Discussion

No Comment Found

Related InterviewSolutions