Clause 30 - Income from business. - Direct Taxes Code, 2010

Income from business. 30. (1) The income from any business carried on by the assessee at any time during a financial year shall be computed under the head "Income from business". (2) The income of distinct and separate business referred to in section 31 shall be computed separately for the purposes of sub-section (1). (3) Any income from a business after its discontinuance shall be deemed to be the income of the recipient in the year of receipt and shall, accordingly, be computed under the head "Income from business".