BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Three of the main types of income are earned, passive and portfolio. Earned income includes wages, salary, tips and commissions. Passive or unearned income could come from rental properties, royalties and limited partnerships. Portfolio or investment income includes interest, dividends and capital gains on investments.

Detailed explanation-2: -Income from other sources This section consists of interest income, dividend income, agricultural income and all other incomes excluding salary, income from house property or capital gains or business/profession.

Detailed explanation-3: -What is Income from Salary? Salary means the money received by a person, referred to as an “employee” from an organization, referred to as an “employer” for offering specific services in connection with employment.

Detailed explanation-4: -A salary is a fixed amount of money or compensation paid to an employee by an employer in return for work performed. Salary is commonly paid in fixed intervals, for example, monthly payments of one-twelfth of the annual salary.