Which of the following is a capital receipt?

CS Executive · Tax Laws · PYQS · June 2023
Which of the following is a capital receipt?
(A) GST collected from taxable supply of goods
(B) Royalty received for use of know-how
(C) Gift received from employer on the occasion of birthday ₹60,000
(D) Premature termination of agency contract

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: General Tax Principles

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic