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TMI BlogGross earnings.X X X X Extracts X X X X X X X X Extracts X X X X ..... f that sub-section, include the following, namely:— (i) the amount of any compensation or other payment, accrued or received, for— (a) termination or modification of terms and conditions relating to management of business, any business agreement or any agency; or (b) vesting of the management of any property or business in another person or the Government; (ii) any consideration, accrued or received under a non-capital agreement; (iii) any amount or value of any benefit, whether convertible into money or not, accrued to, or received by a person, being a trade, professional or similar association, in respect of specific services performed for its members; (iv) any consideration on sale of a licence, not being business capital assets, obtaine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s or expenditure, including a unilateral act by way of writing off such liability in his accounts; and (b) the trading liability or statutory liability or loss or expenditure has been allowed as deduction in any financial year;. (xiii) the amount of remission or cessation of any liability by way of loan, deposit, advance or credit; (xiv) the amount recovered from a trade debtor in respect of a bad debt or part of debt which has been allowed as deduction in any financial year under clause (c) or clause (d) or clause (e) of sub-section (3) of section 35; (xv) the amount withdrawn from any special reserve created and maintained under any provision of this Code or the Income-tax Act, 1961, as its stood before the 43 0f 1961. commencement of thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for carriage of goods by road; or (ii) a sum of twenty thousand rupees in any other case; and (c) which has not been made in such cases and in such circumstances as may be prescribed. (xxiv) any amount standing to the credit of the Fund referred to in section 82, if— (a) income-tax has not been paid on such amount in any financial year preceding the relevant financial year; and (b) the amount is shared during the relevant financial year, either wholly or in part, with a recognised stock exchange or recognised commodity exchange. (3) The gross earnings from business shall not include the following, namely:— (a) any dividend; (b) any interest other than interest accrued to, or received by, a person being a financial institution; (c) any incom ..... X X X X Extracts X X X X X X X X Extracts X X X X
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