Income from other sources

Ask the Community Income Tax
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1

Hi,

What comes under Income from other sources? Please share the details.

Thanks.
Anu

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2

Hi,

I have an additional question - How Tax deduction happens for items falling under this category?

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3

Hi @Ankit , amazing work with helping out our users.

can you please help anushri & jeevan with their questions?

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4

Hi Anushri,

Here are the details of Income from other sources and exemptions allowed under them.

1.Interest Deposits
2.Dividend
3.Family Pension
4.Rental Income

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5

Income from other sources includes all the residual income that cannot be placed in other heads of income. These usually include [interest income] accounts, post office savings accounts, fixed deposits, recurring deposits, family pension etc.

It can also include gifts which are taxable, family pension and so on.

Interest income from banks
Interest income from Post Office Savings Scheme
Dividends received on shares held in domestic companies
Interest income received from other investments
Gifts received

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6

Thank You @Vidyaranjan

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