Commerce Short Question | Gkseries

Home
General Knowledge
which-of-the-following-income-is-not-chargeable-under-the-head

Question

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.

junior administrative assistant jaa test series