Heads of income

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Querist : Anonymous

Querist : Anonymous (Querist)

01 November 2014 income like IIM or IITs under which heads in recognized (PGBP or Other sources)

Nikhil Kaushik

Nikhil Kaushik (Expert)

02 November 2014 IIT and IIMs are covered under section 10...so not included anywhere..

Querist : Anonymous

Querist : Anonymous (Querist)

03 November 2014 sir actually exemption u/s 10 is available when exemption certificate received from commissioner of income tax but a iim received certificate after two year from starting.

Nikhil Kaushik

Nikhil Kaushik (Expert)

03 November 2014 without retrospective effect??????????

Querist : Anonymous

Querist : Anonymous (Querist)

03 November 2014 yes sir commissioner has passed order without retrospective effect.Please give me answer without any more question please (Income under head PGBP or Other sources)

Nikhil Kaushik

Nikhil Kaushik (Expert)

03 November 2014 well in that case, it would be preferable to show as other sources only...

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