SALARIES
This query is : Resolved
15 April 2009
A WAITOR EARNING SALARY RECEIVES TIP FROM CUSTOMERS, UNDER WHAT HEAD IT SHALL BE TAXABLE.
15 April 2009
Salaries
15 April 2009
.
15 April 2009
income from other source. coz its nt from employer so cant be covered in salary.
15 April 2009
income from other source.
15 April 2009
Yes to declare under'income from other sources'.
15 April 2009
Dear,
As per Income tax Act section 56 (1) Income from other sources is a residury head. and any income which doesn't fall under any other head, then it will be charged under other sources. In your case, This trip income is neither falling u/s 15 (coz employer-employee relation doesn't exist)nor u/s 22 (house property)nor U/s 28 (PGBP) and nor U/s 45(1)(Capital gain. Hence finally it qualifies as a residuary income and is chargeable under section 56(1) i.e; other sources.
As per Income tax Act section 56 (1) Income from other sources is a residury head. and any income which doesn't fall under any other head, then it will be charged under other sources. In your case, This trip income is neither falling u/s 15 (coz employer-employee relation doesn't exist)nor u/s 22 (house property)nor U/s 28 (PGBP) and nor U/s 45(1)(Capital gain. Hence finally it qualifies as a residuary income and is chargeable under section 56(1) i.e; other sources.
16 April 2009
Thnaks 2 all
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is any professional CA is here please reply
- Reopen of assessment proceeding
- EPF FULL & FINAL RULES IN 2026
- Rental income gst and it purpose
- Fixe term employment
- Gift Received from nonblood relative
- Foreign lottery ticket bought online from India: legality, tax and consequences
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Putting a heading on received mail
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
