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All posts by Lavish Dey

"I would like to electrocute everyone who uses the word 'fair' in connection with income tax policies." - William F. Buckley, Jr.

Method of accounting [Section 145] – Income Tax

Method of accounting [Section 145] : Income chargeable under the head “Income from other sources” has to be computed in accordance with the cash or mercantile system of accounting regularly employed […]

Deductions allowable [Section 57] – Income Tax

Deductions allowable [Section 57] : The income chargeable under the head “Income from other sources” shall be computed after making the following deductions: (i) In the case of dividends (other than […]

Income from Other Sources – Meaning- Income Tax

Introduction on Income from Other Sources : Any income, profits or gains includible in the total income of an assessee, which cannot be included under any of the preceding heads of income, […]