Section 14 classifies income under how many heads?
A4
B5
C6
D7
Answer & Solution
Correct answer: B. 5
1. Section 14 classifies all income under five heads.
2. The heads: Salaries, House Property, PGBP, Capital Gains, Other Sources.
3. Income outside these heads falls under 'Other Sources' as residuary.
_Source: ICAI BoS CA Final Paper 7, Ch 1 "Basic Concepts"_
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