alleryStart learning →Clause (x) of section 56(2) applies to which class of recipients?
AIndividuals and HUFs only
BCompanies and firms only
CAny person receiving it
DResident individuals only
Answer & Solution
Correct answer: C. Any person receiving it
Unlike the earlier clauses limited to individuals, HUFs, firms and some companies, clause (x) begins with where any person receives.
Keep practising Income from Other Sources
Browse all Income from Other Sources questions for CA Inter, or explore more Taxation topics.
Related questions
A non-relative gifts exactly Rs 50,000 in a year. Taxable amount?Meena gets Rs 20,000 from a friend and Rs 28,000 from a colleague in a year. Taxable gift?In one year Rahul gets Rs 30,000 and Rs 25,000 gifts from two friends. Taxable gift?Property received free is taxable only if its stamp duty value exceeds?Which Union List entry lets the Centre tax non-agricultural income?Under which provision is agricultural income exempt from tax?A horse race under section 58(4) must be one on which?The bar on deductions in section 58(4) does not hit?