NISM 10B Investment Adviser Level 2 Notes

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  • Section 56(2): Governs taxation of gifts and other incomes.
  • Royalty Income: Taxable under other sources unless business-related.
  • Annuity Income: Taxable unless from exempt sources like NPS.
  • Advance Forfeiture: Taxable as income if capital asset deal fails.
  • Sum Received: From non-relatives without consideration, taxable.

NISM 10B NISM Investment Adviser Level 2

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