Which of the following is included in 'income' as defined in the Income-tax Act, 2025?
The Income-tax Act, 2025 defines 'income' inclusively (formerly section 2(24) of the Income-tax Act, 1961): it includes "Profits and gains", "Dividend", and "Voluntary…
Choose your answer
Which of the following is included in 'income' as defined in the Income-tax Act, 2025?
Answer and explanation
Correct answer D
The Income-tax Act, 2025 defines 'income' inclusively (formerly section 2(24) of the Income-tax Act, 1961): it includes "Profits and gains", "Dividend", and "Voluntary contribution received by a Trust for charitable Purpose". Hence "All of the given options are correct" is correct, although inclusion in the definition does not rule out a separate exemption.
Practice for these exams
-
All India Bar Examination (AIBE)
See pack details on LawMint.net -
IIT Kharagpur LL.M. Entrance
Subject revision
See pack details on LawMint.net -
CLAT PG
Subject revision for a passage-based exam
-
AILET PG
Subject revision