Report No. 12
F-Income from other sources
58. Income from other sources.-
(1) Income of every kind shall be chargeable to income-tax under the head "Income from other sources" if it is not chargeable to income-tax under any of the heads specified in section 14, items A to E [Section 6, clauses (i) to (iv) and (vi)].
[Section 2(1)]
(2) In particular, and without prejudice to the generality of the provisions of sub-section (I), the following income shall be chargeable to income-tax under the, head "Income from other sources", namely:-
(i) dividends;
[Section 12(1A)]
(ii) income from machinery, plant or furniture belonging to the assessee and let on hire, if the income is not chargeable to income-tax under the head "Profits and gains of business, profession or vocation";
(iii) where an assessee lets on hire machinery, plant or furniture belonging to him and also - buildings, and the letting of the buildings is inseparable from the letting of the said machinery, plant or furniture, the income from such letting of the buildings, if it is not chargeable to income-tax: under the head "Profits and gains of business, profession or vocation."
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