Which provision of the Income-tax Act, 2025 defines ‘income’?
Question and options
Which provision of the Income-tax Act, 2025 defines ‘income’?
Section 2(77)
Section 2(49)
Section 2(5)
Section 3
Answer and explanation
Correct answer: B - Section 2(49)
Section 2(49) of the Income-tax Act, 2025 gives the inclusive definition of income. Section 2(5) defines agricultural income, section 2(77) defines person and section 3 defines tax year.
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