Question

Income is defined under which of the following provision of the Income Tax Act, 1961?

• A. Section 2(31)
• B. Section 2(24)
• C. Section 2(9)
• D. Section 3

Answer 1

Answer: (B)

Section 2(24)

Answer 2

Section 2(24) of the Income Tax Act, 1961 defines “income” for tax purposes, detailing various types of income included under this term.