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of <h1>Clause 31 of Direct Taxes Code Bill 2009 Defines Gross Business Earnings Components and Exemptions</h1> Clause 31 of the Direct Taxes Code Bill, 2009, outlines the components of gross earnings from business. It includes accruals or receipts from business activities, benefits or perquisites, and inventory value at the fiscal year's end. Specific inclusions are compensation for business agreement changes, non-compete agreements, profits from licenses, government scheme benefits, subsidies, tax refunds, and interest from unincorporated bodies. Exclusions from gross earnings are dividends, certain interests, income from property letting outside specific business contexts, and reductions of personal liabilities. The clause also provides a formula for calculating recoveries from trade debtors.
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