Taxable under which head of income

This query is : Resolved

Amit Jain (Querist)
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25 January 2017 X received a tender of truck supply from Oil Company. X sale this tender to Y for Rupees Thirty Thousand. This income is taxable under which head.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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25 January 2017 Income from other sources.

Amit Jain

Amit Jain (Querist)
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27 January 2017 Whether we claim expenses from this inome

Asha Kanta Sharma

Asha Kanta Sharma (Expert)
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26 July 2025 Yes, you can claim expenses **incurred exclusively and wholly** to earn that income from the sale of the tender.

Since it’s taxable under **Income from Other Sources (IOS)**, the expenses directly related to earning that Rs. 30,000 (like legal fees, brokerage, or any cost related to the tender sale) can be deducted from the gross income to arrive at the taxable income.

**Key points:**

* Only expenses **directly related** to earning the income are allowed.
* General expenses not connected to this income cannot be claimed here.
* No depreciation or business expenses since this is not business income but IOS.

If you want, I can help you draft the computation or explain which expenses qualify. Would you like that?

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