Income of a trade or professional association, from specific service, performed for its members shall be:
A. exempt
B. taxable under the head business and profession
C. taxable under the head income from other sources
D. None of the above
Answer:B
Income of a trade or professional association, from specific service, performed for its members shall be:
A. exempt B. taxable under the head business and profession C. taxable under the head income from other sources D. None of the above