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TMI BlogIncome from other sources.X X X X Extracts X X X X X X X X Extracts X X X X ..... f any sort or from gambling or betting of any form or nature; (c) any sum received by the assessee from employees as contributions to any provident fund, superannuation fund, any fund set up under the Employees' State Insurance Act, 1948 (34 of 1948), or any other fund for the welfare of such employees, if the income in not chargeable to income-tax under the head "Profits and gains of business or profession"; (d) any sum received under a Keyman insurance policy, as defined Schedule II (Note 1) including the bonus allocated on such policy, if such income is not chargeable to income-tax under the head "Profits and gains of business or profession" or under the head "Salaries"; (e) any income by way of interest on securities, if the incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the sum distributed by the business trust with respect to such unit, during the tax year or during any earlier tax year or years, to such unit holder, who holds such unit on the date of distribution of sum or to any other unit holder who held such unit at any time prior to the date of such distribution, which is- (a) not in the nature of income referred to in Schedule V (Table: Sl. No. 3 or 4); and (b) not chargeable to tax under section 223(2); B = amount at which such unit was issued by the business trust; and C = amount charged to tax under this clause in any earlier tax year; (l) where any sum, including bonus allocated, is received, during a tax year, under a life insurance policy, other than- (a) sums received under a u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... om any relative; or (b) on the occasion of marriage of the individual; or (c) under a will or by way of inheritance; or (d) in contemplation of death of the payer or donor; or (e) from any local authority as defined in Schedule III (Note 6); or (f) from or by any registered non-profit organisation as defined in section 355(g), except when received by any person referred to in section 355(i); or (g) by way of a transaction not regarded as transfer under section 70(1)(a), (c), (d), (e), (g), (i), (j), (l), (n), (o), (k), (f), (t), (u), (v) or (w); or (h) from an individual by a trust created or established solely for the benefit of relative of the individual; or (i) from such class of persons and subject to such conditions, as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s from prizes awarded by draw of lots, by chance, or in any other manner under any scheme or arrangement by whatever named called; (f) "property" means the following capital asset of the assesse:- (i) immovable property being land or building or both; (ii) shares and securities; (iii) jewellery; (iv) archaeological collections; (v) drawings; (vi) paintings; (vii) sculptures; (viii) any work of art; (ix) bullion; or (x) virtual digital asset; (g) "relative" means- (i) in case of an individual- (A) spouse; (B) brother or sister; (C) brother or sister of the spouse; (D) brother or sister of either of the parents; (E) any lineal ascendant or descendant (maternal as well as paternal); (F) any lineal ascendan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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