Income

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....es of his office or employment of profit are ordinarily performed by him or at a place where he ordinarily resides or to compensate him for the increased cost of living; (g) the value of any benefit or perquisite, whether convertible into money or not, obtained from a company, either by a director or by a person who has a substantial interest in the company, or by a relative of the director or such person, and any sum paid by any such company in respect of any obligation which, but for such payment, would have been payable by the director or that person; (h) the value of any benefit or perquisite, whether convertible into money or not, obtained by any representative assessee mentioned in section 303(1)(c) or (d) or by any person on whose behalf or for whose benefit any income is receivable by the representative assessee (such person being herein referred to as the beneficiary), and any sum paid by the representative assessee in respect of any obligation which, but for such payment, would have been payable by the beneficiary; (i) any sum chargeable to income-tax under- (A) section 26(2)(b) or (c) or (d) or section 38 ....

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....amme on television or electronic mode, in which people compete to win prizes or any other similar game; (B) "Keyman insurance policy" shall have the meaning assigned to it in Schedule II (Note 1); (C) "lottery" includes winnings from prizes awarded to any person by draw of lots or by chance or in any other manner, under any scheme or arrangement, called by any name; As per Income Tax Act, 1961 [ upto 31.03.2026] Section 2(24) of the Income-tax Act has specifically included the following receipts and benefits as income: (i) profits and gains of any business or profession which was carried on by the assessee at any time during the previous year; [ Section 28(i) ] (ii) dividend; (iii) voluntary contributions received by • a trust created wholly or partly for charitable or religious purposes or by an institution established wholly or partly for such purposes or • by an association or institution referred to in clause (21) or clause (23) of section 10, or; • by a fund or trust or institution referred to in Section 10(23C)(iv)/(v) or • by any university or other....

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....f the terms and conditions relating thereto. • Any person holding an agency in India for any part of the activities relating to the business of any other person, for the termination of the agency or the modification of the terms and conditions relating thereto. • Any person for the vesting of the management of any property or business in the government or any corporation owned or controlled by the government. • Any person for the termination or modification of the terms and conditions of any contract relating to his business. • In connection with the termination of his employment or the modification of the terms and conditions relating thereto. [ Section 28(ii) ] (x) income derived by a trade, professional or similar association from specific services performed for its members; [ Section 28(iii) ]   (xi) profits on sale of a licence granted under the Imports (Control) Order, 1955 under section 28(iiia); (xii) cash assistance (by whatever name called) received or receivable by any person against exports under any scheme of the Government of India under section 28(iiib); ....

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....very in respect of loss or expenditure which was allowed to be deducted in any year as referred to in Section 41(1) or Section 59; • Excess of sale proceeds of an asset of an electricity undertaking to the extent depreciation has been allowed in earlier years as referred to in Section 41(2); • Excess of sale proceeds of a scientific research asset over its amortised value, to the extent of deduction allowed as referred to in Section 41(3); • Any recovery in respect of a debt which was allowed as a bad debt as referred to in Section 41(4); • Amount withdrawn from a special reserve as referred to in Section 41(4A). (xxiv) any capital gains chargeable under section 45 ; (xxv) any sum referred to in section 56(2)(v); (xxvi) any sum referred to in section 56(2)(vi); (xxvii) any sum of money or value of property referred to in clause (vii) or clause (viia) of section 56(2); (xxviii) any consideration received for issue of shares as exceeds the fair market value of the shares referred to in section 56(2)(viib); (xxix) Forfeiture o....