Income from residuary sources defines the default classification for ordinary income not falling under specified heads. Income from residuary sources constitutes a residual classification for computing total taxable income where receipts of every kind that qualify as ... Summary
Income from residuary sources defines the default classification for ordinary income not falling under specified heads.
Income from residuary sources constitutes a residual classification for computing total taxable income where receipts of every kind that qualify as "income from ordinary sources" are not required to be included under any of the heads specified in items A to D of section 14; such income is to be computed and reported under the head "Income from residuary sources".
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