CAF-2 · Chapter 10 · Question 1 of 15
Under the Income Tax Ordinance, 2001, what is the basis of chargeability for income falling under the head "Income from Other Sources"?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) B) Receipt basis
Explanation
Income from other sources is strictly chargeable to tax on a 'receipt basis'. Any income from other sources which is accrued for a tax year but is not received is not chargeable in that tax year.
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