Under the Income-tax Act, 1961, 'notional profit' from speculative business is –

Question

TuteeHUB · Accepted Answer

Taxable either as income from other sources or as income from profits and gains of business and profession

TuteeHUB · Answer

Taxable under the head 'income from profits and gains of business and profession

TuteeHUB · Answer

Taxable under the head 'income from other ' sources'

TuteeHUB · Answer

Not taxable.

1.	Under the Income-tax Act, 1961, 'notional profit' from speculative business is –
A.	Taxable under the head 'income from profits and gains of business and profession
B.	Taxable under the head 'income from other ' sources'
C.	Taxable either as income from other sources or as income from profits and gains of business and profession
D.	Not taxable.
Answer» C. Taxable either as income from other sources or as income from profits and gains of business and profession

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