Gross residuary income

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... than dividends in respect of which dividend distribution tax has been paid under section 99;     (b) interest, other than interest accrued to, or received by, permitted financial institutions;     (c) income from the activity of owning and maintaining horses for runnning in horse race;     (d) any amount received from his employees as contributions to any fund setup for their welfare, if the income is not included under the head "Income from business";     (e) income from machinery, plant or furniture belonging to the person and let on hire, if the income is not included under the head "Income from business";     (f) any sum received under a life insu....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ge of goods by road; and           (B) twenty thousand rupees in any other case; and        (iv) it has not been incurred in such cases and under such circumstances, as may be prescribed;     (l) any amount found credited in the books of an person maintained for the financial year, if -        (i) the person offers no explanation about the nature and source thereof; or        (ii) the person offers an explanation but fails to substantiate the explanation; or        (iii) the explanation offered by him is not, in the opinion of the Assessing Offic....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ctory;     (p) any amount received as loan or deposit, otherwise than by an account payee cheque or account payee bank draft, from any person, if the aggregate amount of such loan or deposit exceeds twenty thousand rupees;     (q) any repayment of loan or deposit, otherwise than by an account payee cheque or account payee bank draft, if the aggregate amount, including interest, due to the payee, either in his own name or jointly with any other person, on the date of such repayment exceeds twenty thousand rupees;     (r) any amount received, or withdrawn, under any circumstances, from any account maintained with any permitted savings intermediaries, referred to in sub-section (2) of secti....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....from the Retirement Benefit Account referred to in sub-section (2) of section 22, representing the principal amount or any accretion thereto; and     (z) any amount accrued, or received, as advance, security deposit or otherwise, from the long term leasing or transfer of whole or part of, or any interest in, any investment asset. (3) The amount referred to in clause (h) of sub-section (2) shall not include any amount received -     (a) from any relative;     (b) on the occasion of the marriage of the individual;     (c) under a will or by way of inheritance;     (d) in contemplation of death of the payer;     (e) from any local aut....