Other Sources of Income

Other Sources of Income includes all types of income that do not fit under the main heads like salary, house property, business, or capital gains.

This category includes things such as:

1. Interest from savings accounts or fixed deposits
2. Dividends from shares or mutual funds
3. Gifts received above the allowed limit
4. Lottery or prize winnings
5. Income from sub-letting or small extra earnings

The income is added to your total income.

It is taxed at the same rates that apply to you.

Only a few deductions are allowed.

Example

1. Interest from FD: ₹50,000
2. Dividend: ₹10,000

Total income from other sources = ₹60,000

This ₹60,000 will be added to your total income and taxed normally.