Income under head “Profits and gains of business or profession”

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....during the tax year shall be chargeable to income-tax under the head "Profits and gains of business or profession". (2) The income under sub-section (1) shall include-- (a) the profits and gains of any business or profession carried on by the assessee at any time during the tax year; (b) any compensation or other payment, due to, or received, by any person by whatever named ca....

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....ervices performed for its members; (e) the amount of any profit on sale of input licence, cash assistance against export, duty drawback or duty remission or any other export incentive, received or receivable; (f) the value of any benefit or perquisite arising from business or the exercise of a profession, whether- (i) convertible into money or not; or (ii) in ca....

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....eral fund of the Montreal Protocol on Substances that Deplete the Ozone layer under the United Nations Environment Programme, as per the terms of agreement entered into with the Government of India; or (ii) under an agreement for not sharing any know-how, patent, copyright, trade-mark, licence, franchise or any other business or commercial right of similar nature, or information or techni....