‘Income’ u/s 2(24) includes: (i) The profits and gains of a banking business carried on by a cooperative society with its members. (ii) Any advance money forfeited in the course of negotiations for the transfer of capital asset. Choose the correct option with reference to the above statements:

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Question:‘Income’ u/s 2(24) includes: (i) The profits and gains of a banking business carried on by a cooperative society with its members. (ii) Any advance money forfeited in the course of negotiations for the transfer of capital asset. Choose the correct option with reference to the above statements:

1.Both (i) and (ii)

2.Only (i)

3.Only (ii)

4.Neither (i) nor (ii)

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  1. ‘Income’ u/s 2(24) includes: (i) The profits and gains of a banking business carried on by a cooperative society with its members. (ii) Any advance money forfeited in the course of negotiations for the transfer of capital asset. Choose the correct option with reference to the above statements:
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