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of <h1>Tax on income not charged elsewhere: scope, inclusions, exemptions, valuation and gift thresholds under Section 56</h1> Income not taxed under other heads is chargeable as 'Income from other sources,' including dividends; lottery, gambling and game show winnings; certain employee fund contributions; keyman insurance proceeds; interest on securities; hire receipts from machinery or inseparable building hire; forfeited advance on failed capital-asset negotiations; interest on compensation and termination payments; specified distributions from business trusts; life-insurance receipts exceeding aggregate premiums; and gifts or property received without or for inadequate consideration above specified monetary thresholds. Exemptions cover transfers from relatives, on marriage, by will or inheritance, in contemplation of death, certain local authorities and registered non-profits, trusts for relatives, and other prescribed classes. Definitions and valuation rules are provided.
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