Income from Other Sources

Income from other sources is the fifth and residual head of income under the Income Tax Act 2025. It covers any income that does not fall under salary, house property, business or profession, or capital gains. Examples include interest earned on savings accounts, fixed deposits, recurring deposits, post office schemes, lottery winnings, puzzle winnings, card game winnings, and agricultural income above the exemption limit. The Income Tax Act 2025 (Section 56) specifically includes large gifts, deemed gifts at below-market prices, and certain immovable property transactions under this head. Deductions available include a standard deduction of ₹1,500 and any interest on loans taken to earn this income. Income under this head is taxed at your applicable slab rates.