'Income' under section 2(24) includes (i) The profits and gains of a banking business carried on by a co-operative society with its members. (ii) Any advance money forfeited in the course of negotiations for transfer of
CS Executive · Tax Laws and Practice · PYQS · June 2015
'Income' under section 2(24) includes (i) The profits and gains of a banking business carried on by a co-operative society with its members. (ii) Any advance money forfeited in the course of negotiations for transfer of capital asset. Choose the correct option with reference to the above statements
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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