Examples of Income, Profits and Gains not Taxable under the Particular Heads, Rather Treated as Income form Other Sources
1. Not taxable under salaries:
(a) Director’s fees.
(b) Examinership fee received by a lecturer from a university,
(c) Tips received by waiters and other servants. (d) Annuities granted by a life insurance company.
Not taxable under income from property:
2. (a) Ground rent.
(b) Rental income from building kept on lease together with plant
and machinery.
(c) Rent income derived by subletting a building or land by a tenant.
(d) Mining rent and royalty.
3. Not taxable under income from business:
(a) Remuneration received by a professional man as an examiner.
(b) Income of non-professional writer to a newspaper for serial rights in a story.
(c) Professional dues realized after discontinuance of business.
(d) Casual income, ie prize on prize bond, or Dfa Ho winnings from a raffle,
lottery or cross word puzzle.
4. Not taxable under capital gain:
Income or profits on sale or transfer of assets used for business in respect of which depreciation is allowable under third schedule.
