FREE IGNOU BCOC-136 SOLVED ASSIGNMENT 2022-23
DOWNLOAD HERE IGNOU BCOC-136 ASSIGNMENT 2022-23 AND ALSO check out IGNOU BCOC-136 SOLVED ASSIGNMENT 2022-23 GUIDELINES. यहाँ BCOC-136 ASSIGNMENT 2022-23 डाउनलोड करें और इसके अलावा IGNOU BCOC-136 SOLVED ASSIGNMENT 2022-23 की GUIDELINES भी देखें ।
Below are the details of the IGNOU BCOC-136 SOLVED ASSIGNMENT 2022-23:
- Program: BCOC-136 (Bachelor of Arts – BA)
- Course Code: BCOC-136
- Session: July 2023 – January 2024
- Submission Dates:
- Assignment 2023-24: Last date for submission – 30th April 2024
- Assignment 2023-24: Last date for submission – 30th October 2024
Assignment Submission: Students are advised to submit the IGNOU BCOC-136 SOLVED ASSIGNMENT 2022-23 as per the specified schedule. The assignments must be submitted in soft copy/PDF format through the designated portal or email, as instructed by the university.
Guidelines for Preparing IGNOU BCOC-136 SOLVED ASSIGNMENT 2022-23: While preparing the IGNOU BCOC-136 SOLVED ASSIGNMENT 2022-23, students must adhere to the following guidelines:
FREE IGNOU BCOC-136 SOLVED ASSIGNMENT 2022-23 –
Q1: What do you understand by casual income? How are they treated under the Income Tax Act?
Casual income, in the context of taxation, refers to sporadic or irregular income that an individual receives from various sources, including activities such as lotteries, gambling, or chance-based ventures. It can also encompass income generated from activities that are not part of the individual’s regular trade or profession. The treatment of casual income under the Income Tax Act varies based on the nature of the income and the prevailing tax regulations.
Casual income is subject to taxation under the Income Tax Act, as it contributes to an individual’s total income for a specific financial year. It is categorized as “Income from Other Sources” in the tax framework, which is one of the five heads of income used for tax computation in India. The Income Tax Act mandates that any income, regardless of its source or frequency, should be declared and included in the individual’s total income while filing the income tax return.
The tax treatment of casual income depends on several factors, including the source of income, the amount received, and any exemptions or deductions available. For example, if an individual wins a significant amount in a lottery, the winnings are considered casual income and are subject to taxation as per the applicable rates for that financial year. Similarly, income earned from gambling activities or speculative ventures is also treated as casual income and is included in the individual’s total income.
In cases where the casual income arises from activities not related to the individual’s regular trade or profession, the Income Tax Act provides guidelines for the determination of tax liability. These guidelines are designed to prevent individuals from categorizing their regular income as casual income to avail certain tax benefits or deductions.
It’s important to note that while casual income is taxable, certain exemptions or deductions may be available under specific circumstances. Taxpayers can seek guidance from tax professionals or refer to the Income Tax Act and related notifications to understand the applicable rules and rates for casual income taxation.
In summary, casual income refers to occasional or irregular income received from various sources, and it is subject to taxation under the Income Tax Act. Taxpayers are required to declare and include casual income in their total income while filing their income tax return. The treatment of casual income depends on factors such as its source, amount, and available exemptions or deductions. Adhering to tax regulations and seeking professional advice can help taxpayers correctly determine their tax liability related to casual income and ensure compliance with the law.