Which of the following income will be taxable as income from other sources

CS Executive · Tax Laws and Practice · PYQS · June 2015
Which of the following income will be taxable as income from other sources
(A) Purchase of house from husband for inadequate consideration
(B) Purchase of painting from registered dealer at invoice value less than fair market value
(C) Cash gift from a non-resident friend on marriage anniversary
(D) All of the above.

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax

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