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of <h1>Section 56: Tax on income not taxed elsewhere including dividends, certain interest, gifts, insurance proceeds, and special valuation rules</h1> All income not chargeable under other heads is taxable under 'Income from other sources.' The section lists specific inclusions: dividends, certain interest, income from letting movable assets, forfeited advances, compensation on employment termination, specified distributions from business trusts, life insurance receipts exceeding premiums, and gratuitous receipts or transfers (money, immovable or other property, shares) above prescribed monetary or valuation thresholds which are taxable unless falling within exemptions (relatives, marriage, inheritance, death-contemplation, specified authorities/institutions, or certain non-transfer transactions). Special rules apply to closely held companies/firms, share issue premiums, valuation methods and temporal thresholds.
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