Miscellaneous Income

Tax Glossary Definition

Miscellaneous Income

Refers to earnings that do not qualify under any specific head of income such as salary, business, capital gains, or house property. Such receipts are chargeable to tax under the category ‘Income from Other Sources’ as per the Income Tax Act. Example: Interest earned on a savings account or lottery winnings of ₹1 lakh are treated as miscellaneous income.

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