Which out of the following elements you find are sufficient for bringing to tax as income from Business or profession? (i) Ownership of the business is not necessary (ii) Business must be legal (iii) Income may be earned in cash or kind (iv) Profit motive is the sole consideration Select correct answer from the options given below:

  1. Home

Question:Which out of the following elements you find are sufficient for bringing to tax as income from Business or profession? (i) Ownership of the business is not necessary (ii) Business must be legal (iii) Income may be earned in cash or kind (iv) Profit motive is the sole consideration Select correct answer from the options given below:

1.(i), (ii) and (iv)

2. All the four

3.(i) and (iii)

4. (i), (iii) and (iv)

Posted by R4R Team
  1. Which out of the following elements you find are sufficient for bringing to tax as income from Business or profession? (i) Ownership of the business is not necessary (ii) Business must be legal (iii) Income may be earned in cash or kind (iv) Profit motive is the sole consideration Select correct answer from the options given below:
Search
R4R Team
R4Rin Top Tutorials are Core Java,Hibernate ,Spring,Sturts.The content on R4R.in website is done by expert team not only with the help of books but along with the strong professional knowledge in all context like coding,designing, marketing,etc!