# Section 56 — Income from Other Sources: Charging Section
## When is an Income Taxable Under This Head?
An income is taxable under "Income from Other Sources" (IFOS) only if:
1. It is not taxable under any other head (Salary / House Property / PGBP / Capital Gains), AND
2. It is not exempt under the Income Tax Act, 1961.
Thus, IFOS is the residuary head of income.
## Specific Items Taxable Under IFOS [Section 56(2)]
| S. No. | Income |
|---|---|
| (i) | Dividend income |
| (ii) | Income from units of UTI / Mutual Funds |
| (iii) | Interest income (not falling under PGBP) |
| (iv) | Interest on compensation / enhanced compensation |
| (v) | Advance money forfeited on or after 1.4.2014 |
| (vi) | Income from letting/renting of plant, machinery, furniture (if not PGBP) |
| (vii) | Salary income of MP / MLA |
| (viii) | Family pension |
| (ix) | Amount received under Life Insurance Policy (other than Keyman Insurance) |
| (x) | Money/property received without consideration or for inadequate consideration in excess of ₹ 50,000 [Section 56(2)(x)] |
| (xi) | Casual income (lotteries, races, etc.) |
| (xii) | Winnings from Online Games |
| (xiii) | Undisclosed income u/s 68, 69, 69A, 69B, 69C, 69D |
| (xiv) | Any other income not taxable under other heads and not exempt |
## Important Notes
- Salary of MP/MLA is taxable under IFOS, NOT under "Salaries" (because there is no employer-employee relationship).
- Family pension differs from regular pension (regular pension to employee = Salary head; family pension to legal heir = IFOS).