Which type of incomes are taxable in India | CA inter | CS Executive | C...

Income is increase in cash by any means. There is no difference between legal income or illegal income as far as income tax act is concerned. Income is of two types. a. Revenue Receipts b. Capital Receipts. Revenue receipts is derived from source of Income where as capital receipts is dereived from no where. If source of income which can be tangible asset or intangible asset is sold capital receipt is generated.