Tax Book 2023

Income From Other Sources Chapter- 13

Section

Topic covered Topic covered

(Part - I for CAF- 6 and ICMAP

students) Section^ Rule^

(Part - II for CA Mod F and ICMAP

students)

Part - I Part - II

39 Income from other sources 89 Authors

Loan, advance, share deposit or

gift as other source of income 111 Un-explained income or assets^

Profit on debt received as arrears 228 Valuation of assets

Non application of section 39 228 Donation in kind

40

Deductions under income from

other sources

Deductions not allowable

46 Profit on debt exempt from tax MCQ’s with solutions

11,50,51

&101

Geographical source of income

from other sources & their

taxability

Practice questions with solutions

Exemption under 2nd schedule to

Income Tax Ordinance, 2 001

ICMAP & CA Mod C past papers

theoretical questions

PART – I (For CAF- 6 and ICMAP students)

1. Income from other sources: [U/s 39(1)]

Income of every kind received by a person in a tax year, if it is not included in any other head,

other than income exempt from tax, shall be chargeable to tax in that year under the head income

from other sources including the following namely:

(a) Dividend (covered under separate block of income)

(b) Royalty

(c) Profit on debt.

(d) Additional payment on delayed refund under any tax law

(e) Ground rent.

(f) Rent from sub-lease of land or a building.

(g) Income from the lease of any building together with plant or machinery.

(h) Income from provision of amenities, utilities or any other service connected with renting of

building.

(i) Any annuity or pension received by a person not being as an employee.

(j) Any prize on prize bond, or winning from a raffle, lottery, prize on winning a quiz, price offered

by companies for promotion of sale or cross-word puzzle.

(k) Any other amount received as consideration for the provision, use or exploitation of property,

including from the grant of a right to explore for, or exploit, natural resources.

13 Income from other sources

Chapter