https://www.taxtmi.com/manuals?id=1080 Profits and gains of business or profession includes core business income, compensation for termination or modification of management, office, agency or contract, compensation on government takeover, association service income, export incentives, business benefits or perquisites, partner's remuneration, non-compete and non-disclosure receipts, keyman insurance sums, conversion of inventory into a capital asset, and certain recoveries on capital assets where deduction was earlier allowed. Speculation business is treated as distinct, and rent from letting out a residential house is excluded from this head and taxed only as income from house property. en-us Tue, 15 Sep 2015 10:31:00 +0530 Thu, 07 May 2026 12:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1080 Profits and gains of business or profession includes core business income, compensation for termination or modification of management, office, agency or contract, compensation on government takeover, association service income, export incentives, business benefits or perquisites, partner's remuneration, non-compete and non-disclosure receipts, keyman insurance sums, conversion of inventory into a capital asset, and certain recoveries on capital assets where deduction was earlier allowed. Speculation business is treated as distinct, and rent from letting out a residential house is excluded from this head and taxed only as income from house property. Manuals Income Tax Tue, 15 Sep 2015 10:31:00 +0530 https://www.taxtmi.com/manuals?id=1080