Casual receipt
This query is : Resolved
12 June 2008
What is the meaning of a casual receipt?
Explain on the taxability/exemption in respect of the same.
Explain on the taxability/exemption in respect of the same.
05 April 2012
Casual receipt is one which is received without making any efforts and is not likely to occur in future, for instance gifts.
Such receipt is taxable under the head Income from Other Sources.
Such receipt is taxable under the head Income from Other Sources.
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