Which out of the following elements you find are sufficient for bringing to tax as income from business or profession : (i) Ownership of the business is not necessary (ii) Business must be legal (iii) Income may be earne
CS Executive · Tax Laws and Practice · PYQS · June 2018
Which out of the following elements you find are sufficient for bringing to tax as income from business or profession : (i) Ownership of the business is not necessary (ii) Business must be legal (iii) Income may be earned in cash or kind (iv) Profit motive is the sole consideration
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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