CMA Intermediate · Direct and Indirect Taxation · Income from Other Sources
Meera receives Rs. 30,000 as dividend from a company, Rs. 20,000 as winnings from a crossword puzzle, and Rs. 12,000 as interest on securities (not taxable as business income). What is her income under the head 'Income from other sources' as per section 92(2) of the Income-tax Act, 2025, ignoring any deductions?
Her income from other sources is Rs. 62,000, being dividend Rs. 30,000, crossword winnings Rs. 20,000 and interest on securities Rs. 12,000, each listed separately in section 92(2)(a), (b) and (e). None of them is excluded, so all three are added.
- ARs. 42,000
- BRs. 50,000
- CRs. 62,000Correct
- DRs. 32,000
Explanation
Section 92(2)(a) covers dividend, (b) covers crossword winnings and (e) covers interest on securities. Sum = 30,000 + 20,000 + 12,000 = Rs. 62,000. Rs. 42,000 wrongly omits the winnings, and Rs. 50,000 omits the interest.
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