Amount of ₹ 5,00,000 received by Ram & Co., as compensation for premature termination of the contract of agency is to be treated as:

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Question:Amount of ₹ 5,00,000 received by Ram & Co., as compensation for premature termination of the contract of agency is to be treated as:

1.Income from other sources

2.Taxable under section 28(n)(c)

3.Revenue receipt which is exempt

4. Capital receipt which is not chargeable to tax

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  1. Amount of ₹ 5,00,000 received by Ram & Co., as compensation for premature termination of the contract of agency is to be treated as:
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