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

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....r 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 called,-- (i) wholly or substantia....

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....cence, 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 cash or in kind or partly in cash and partly in kind; (g) an amount being interest, salary, bonus, commission or ....

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....reement 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 technical know-how likely to assist in the manufacture or processing of goods or provision for services; (i) any sum received under a Keyman insurance policy i....