How many heads of income does section 13 of the Income-tax Act, 2025 provide for computing total income?
Question and options
How many heads of income does section 13 of the Income-tax Act, 2025 provide for computing total income?
Seven
Four
Five
Six
Answer and explanation
Correct answer: C - Five
Section 13 of the Income-tax Act, 2025 classifies all income under five heads: salaries, income from house property, profits and gains of business or profession, capital gains and income from other sources. Six would count interest on securities, a head of the earlier law that no longer exists.
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