BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is NOT a source of income?
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Social welfare payments
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Profit from capital
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Wage from labour
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Rent from land
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Explanation:
Detailed explanation-1: -Any income which is not chargeable to tax under any other heads of income and which is not to be excluded from the total income shall be chargeable to tax as residuary income under the head “Income from Other Sources”.
Detailed explanation-2: -Capital income means the amount paid as profit or interest on investments for a specified period.
Detailed explanation-3: -Capital refers to the initial sum invested. A capital gain, therefore, is the profit realized when an investment is sold for a higher price than the original purchase price.
There is 1 question to complete.