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Income from other sources

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 June 2014 Rs.50000 amount mentioned in section56(2)(Vii) of income tax act 1961 only inrespect one receipt or aggergate of all receipts received during the year.
2.4.13-i received rs.45000
3.4.13-15000
Am i liable to include 60000 under IOS or not
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
26 June 2014 total received during the year...so in this case whole of 60000 shall be taxable.
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Rupesh Jain

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Rupesh Jain (Expert)
26 June 2014 Rs. 60000/- will taxable under income from other sources
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