Income from business: profits rule with specified categories computed under designated schedules and general gross earnings less expenses rule. Computation of income from business provides that income from business equals the profits of the business; for specified business categories profits are computed under corresponding Schedules (e.g., insurance, qualifying ship operations, mineral oil/natural gas, SEZ development, and other listed businesses, including presumptive-basis cases). For businesses not so specified, profits are gross earnings reduced by business expenditure incurred by the assessee.