NISM 10B Investment Adviser Level 2 Notes

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  • Section 145: Income taxable on accrual or receipt basis.
  • DTAA Relief: Prevents double taxation on foreign-sourced income.
  • Tax-Free Income: Certain receipts like agricultural income exempt.
  • Clubbing Provisions: Income from gifted assets may be clubbed.
  • Deductions: Limited, e.g., expenses directly related to earning income.

NISM 10B NISM Investment Adviser Level 2

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