{"id":1122,"date":"2023-06-09T09:08:24","date_gmt":"2023-06-09T09:08:24","guid":{"rendered":"https:\/\/vibrantfinserv.com\/kb\/?p=1122"},"modified":"2024-06-07T08:55:39","modified_gmt":"2024-06-07T08:55:39","slug":"source-of-income-vs-head-of-income","status":"publish","type":"post","link":"https:\/\/vibrantfinserv.com\/kb\/source-of-income-vs-head-of-income\/","title":{"rendered":"What are the differences between the Source of Income vs Head of Income?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/vibrantfinserv.com\/kb\/source-of-income-vs-head-of-income\/#Source_of_Income_Vs_Head_of_Income\" >Source of Income Vs Head of Income<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/vibrantfinserv.com\/kb\/source-of-income-vs-head-of-income\/#Source_of_Income\" >Source of Income:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/vibrantfinserv.com\/kb\/source-of-income-vs-head-of-income\/#Head_of_Income\" >Head of Income:<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/vibrantfinserv.com\/kb\/source-of-income-vs-head-of-income\/#For_further_details_access_our_website_https_vibrantfinservcom\" >For further details access our website: https:\/\/vibrantfinserv.com<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"Source_of_Income_Vs_Head_of_Income\"><\/span><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-18 alignleft\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png\" alt=\"\" width=\"111\" height=\"53\" srcset=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ-300x143.png 300w, https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/05\/Logo-Vibrant-FinServ.png 482w\" sizes=\"auto, (max-width: 111px) 100vw, 111px\" \/><span style=\"color: #000000;\"><strong>Source of Income Vs Head of Income<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h2><\/h2>\n<h3 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Source_of_Income\"><\/span><span style=\"color: #000000;\"><strong>Source of Income:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h1 style=\"text-align: center;\"><span style=\"color: #000000;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" style=\"font-size: 16px;\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/64.Source-of-income-Vs-head-of-income.jpg\" alt=\"Source of income Vs head of income\" width=\"224\" height=\"188\" \/><\/span><\/h1>\n<p style=\"text-align: left;\"><span style=\"color: #000000;\">The source of income and the head of income both are two different concepts use in the computation of income tax for filling the Income Tax Return.<\/span><\/p>\n<p><span style=\"color: #000000;\">The source of income refers to the origin or the place from where the income is earn<\/span><\/p>\n<p><span style=\"color: #000000;\">For example, salary income is earned from an employer, business income is earned from a business, rental income is earned from a property, etc. <\/span><\/p>\n<p><span style=\"color: #000000;\">The source of income is use to determine the taxability of income under the Income Tax Act, as different sources of income may be subject to different tax rules and rates.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Head_of_Income\"><\/span><span style=\"color: #000000;\"><strong>Head of Income:<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #000000;\">But the head of income refers to the specific category or classification of income under which the income is tax. <\/span><\/p>\n<p><span style=\"color: #000000;\">There are five categories or heads of income under the Income Tax Act, which include: <\/span><\/p>\n<ol>\n<li><span style=\"color: #000000;\">Salary<\/span><\/li>\n<li><span style=\"color: #000000;\">House Property<\/span><\/li>\n<li><span style=\"color: #000000;\">Business or Profession<\/span><\/li>\n<li><span style=\"color: #000000;\">Capital Gains, and <\/span><\/li>\n<li><span style=\"color: #000000;\">Income from Other Sources.\u00a0 \u00a0<\/span><\/li>\n<\/ol>\n<p><span style=\"color: #000000;\">Each head of income has its own set of rules for calculating taxable income, allowable deductions, exemptions, and tax rates.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color: #000000;\">In summary, the source of income refers to the origin or place from where the income is earn, while the head of income refers to the specific category or classification of income under which the income is taxed. <\/span><\/p>\n<p><span style=\"color: #000000;\">Understanding the source and head of income is important for correctly computing and filing income tax returns.<\/span><\/p>\n<p>To know further about <span style=\"color: #000000;\">Source of Income Vs Head of Income refer below links:<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><strong><span style=\"color: #000000;\">For more information visit this site:<\/span> <a href=\"https:\/\/www.incometax.gov.in\">https:\/\/www.incometax.gov.in<\/a><\/strong><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/vibrantfinserv.com\/kb\/wp-content\/uploads\/2023\/06\/64.jpg\" width=\"192\" height=\"161\" \/><\/p>\n<h4 style=\"text-align: center;\"><span class=\"ez-toc-section\" id=\"For_further_details_access_our_website_https_vibrantfinservcom\"><\/span><strong><span style=\"color: #000000;\">For further details access our website:<\/span> <a href=\"https:\/\/vibrantfinserv.com\/\">https:\/\/vibrantfinserv.com<\/a><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Source of Income Vs Head of Income Source of Income: The source of income and the head of income both are two different concepts use in the computation of income tax for filling the Income Tax Return. The source of income refers to the origin or the place from where the income is earn For\u2026 <span class=\"read-more\"><a href=\"https:\/\/vibrantfinserv.com\/kb\/source-of-income-vs-head-of-income\/\">Read More &raquo;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":5680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1459,7],"tags":[52215,52209,52246,52241,52218,52238,52253,52263,52233,52258,52228,52221,52224,52213,52204,52207,52211,52249,40503,32622,19431,1562,52242,40220,41029,52254,52234,52264,19513,52259,4808,52225,52229,1567,52222,20641,2039,52250,2275,40561,52212,40866,52223,52247,52208,52243,52219,52239,52255,52235,52265,52260,52216,52226,52214,52203,52230,10729,2274,20964,52205,52251,4681,38047,47581,52248,52245,52220,52240,52210,52257,52266,52237,52262,52227,52217,52232,30915,40568,52206,21014,39494,20333,52244,20331,52256,46903,52236,52261,41707,21159,1438,52231,10398,7584,22598,30503,22907,52252,2276,44343],"class_list":["post-1122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-account-finance","category-bookkeeping-and-accounting","tag-earningclarifications","tag-earningclassifications","tag-earningcomparison","tag-earningcontrasts","tag-earningdemarcations","tag-earningdifferences","tag-earningdiscrepancies","tag-earningdisparities","tag-earningdistinctions","tag-earningdiversities","tag-earningexamples","tag-earningexplained","tag-earningillustration","tag-earningmodels","tag-earningsclassification","tag-earningsources","tag-earningtypes","tag-earningvariations","tag-economicunderstanding","tag-financialclarification","tag-financialcomparison","tag-financialconcepts","tag-financialcontrasts","tag-financialdefinitions","tag-financialdifferences","tag-financialdiscrepancies","tag-financialdiscriminations","tag-financialdisparities","tag-financialdistinctions","tag-financialdiversities","tag-financialeducation","tag-financialexamples","tag-financialillustrations","tag-financialliteracy","tag-financialterminologies","tag-financialterminology","tag-financialterms","tag-financialvariations","tag-headofincome","tag-incomeanalysis","tag-incomebreakdown","tag-incomecategories","tag-incomeclarifications","tag-incomecomparison","tag-incomecomprehension","tag-incomecontrasts","tag-incomedemystification","tag-incomedifferences","tag-incomediscrepancies","tag-incomediscriminations","tag-incomedisparities","tag-incomediversities","tag-incomeelucidation","tag-incomeexamination","tag-incomeexplanation","tag-incomehead","tag-incomeillustrations","tag-incomesource","tag-incomesources","tag-incomestreams","tag-incomestructure","tag-incomevariations","tag-moneymatters","tag-revenueallocation","tag-revenuebreakdown","tag-revenuecomparison","tag-revenuecontrasts","tag-revenuedetails","tag-revenuedifferences","tag-revenuedifferentiation","tag-revenuediscrepancies","tag-revenuedisparities","tag-revenuedistinctions","tag-revenuediversities","tag-revenueexamples","tag-revenueexploration","tag-revenueillustrations","tag-revenueinsights","tag-revenuesources","tag-revenuevariations","tag-taxationbasics","tag-taxationbreakdown","tag-taxationcomparison","tag-taxationcontrasts","tag-taxationdifferences","tag-taxationdiscrepancies","tag-taxationdisparities","tag-taxationdistinctions","tag-taxationdiversities","tag-taxationexamples","tag-taxationframework","tag-taxationguidelines","tag-taxationillustrations","tag-taxationinsights","tag-taxationlaws","tag-taxationprinciples","tag-taxationstructure","tag-taxationunderstanding","tag-taxationvariations","tag-taxcomputation","tag-taxonomy"],"yoast_head":"<!-- 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