Which of the following income is not chargeable under the head ‘income from business and profession’ ?

A Profits and Gains carried on by an assessee during the previous year.

B Income derived by a trade professional or similar association from specific services performed for its members.

C Income from the activity of owning or owning and maintaining race horses.

D Salary received by a partner of a firm from the same firm.

Answer & Explanation
Answer:Income from the activity of owning or owning and maintaining race horses.

Article and Schedule Quiz	Start Test!

Take Mock Tests

Missiles Mock Test	Start Test!
SSC MTS Mock Test	Start Test
IBPS CLERK MOCK TEST	Start Test
SSC MTS 2022 JULY 26 Shift 1 (ENGLISH)	Start Test!
SSC GD Previous Year Paper 2021 Nov 17 Shift - I (Hindi)	Start Test!
SSC CGL Tier - 1 PYP 2022 April 21 Shift- 1 (ENGLISH)	Start Test!
MPSC PAPER I MOCK TEST 1 (ENGLISH)	Start Test!
IB Security Assistant Mock test 1 (english)	Start Test!
UP POLICE CONSTABLE MOCK TEST 1	Start Test!
DELHI POLICE CONSTABLE MOCK TEST 1 (HINDI)	Start Test!