Interest on securities shall be taxable under Income from other sources:

CS Executive · Tax Laws · PYQS · December 2023
Interest on securities shall be taxable under Income from other sources:
(A) On Due basis
(B) On Receipt basis
(C) As per the direction of the Assessing Officer
(D) On the basis of method of accounting regularly employed by the assessee

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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