CAF-2 · Chapter 10 · Question 5 of 15
A taxpayer received a valuable gift from his current tenant. Under which head of income will this gift be classified and taxed?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) C) Income from Property
Explanation
A gift received from a tenant is considered a form of rental income linked to the property, and is therefore taxable under the head "Income from Property".
More Income from Other Sources MCQs
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- Q11If Zakat is deducted at the time of the receipt of profit on debt, how is this Zakat treated when computing the taxpayer's taxable income?