Income tax on cashbacks.
Datta Ravi Teja (Mr.) (108 Points)
26 June 20191.Income from salaries- Salary received by an employee from employer.
2.Income from house property- Rent received on letout property
3.Profits and gains of business or profession- Net proift for business or profession.
4.Capital Gains- profit on sale of capital assets.
5.Income from Other Sources- Interest,lottery,winnings from horse races,gift,agri income etc.
Now.. Under which head is a reduction of expense calculated?