What types of incomes are classified under the head “Other Sources’?

June 21, 2022 /

Some of the income classified under other sources are:
1. Any contribution to a fund for welfare of employees received by the employer.
2. Income received by way of interest on securities.
3. Income from letting out or hiring of plant, machinery or furniture.
4. Money received under a Keyman Insurance Policy including bonus.
5. Commission or brokerage
6. Tution fee
7. Dividend Incomme
8. Winnings from lotteries, crossword puzzles, races including horse races, card game and other game of any sort, gambling or betting of any form is classified as income from other sources.
9. Gifts received by an individual or HUF (which are chargeable to tax) are also taxed under this head.

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