Nature of income
This query is : Resolved
02 January 2016
What will be the income of a person when he is tranporting gold ornaments from one place to another. And on that he receives money on the basis of fixed %age of weight of gold ornaments carried by him. What will be the nature of income and how it will be shown in his computation of income?
CA R SEETHARAMAN
(Expert)
02 January 2016
Show it as business income and deduct expenses incurred on transportation against the income.
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