# Section 28 - Charging Section (PGBP)
Section 28 lists incomes that are chargeable to tax under the head Profits and Gains of Business or Profession (PGBP).
## Incomes Taxable Under PGBP
1. Profits or gains of any business, profession or vocation carried on by the assessee.
2. Keyman Insurance Policy - Any sum received by an employer (being the assessee) under a Keyman Insurance Policy, including the bonus on such policy.
3. Gifts/Benefits/Perquisites arising from business or profession:
- Whether received in cash or in kind, or partly in cash/kind
- Whether convertible into money or not
4. Import-related Incentives (all four are taxable as PGBP):
- Profit on sale of Import Entitlement License
- Any Cash Assistance received
- Any Duty Drawback received
- Profit on sale of DEPB (Duty Entitlement Passbook Scheme) and DFRC (Duty Free Replenishment Certificate)
5. Non-Compete Fees received:
- For not carrying out any business, OR
- For not sharing any know-how, patent, copyright, etc.
6. FMV of stock-in-trade on the date it is converted into a capital asset.
7. Compensation received/receivable for termination or modification of terms & conditions of any contract relating to business — always PGBP, irrespective of whether revenue or capital in nature.
8. Partner's remuneration - Any interest, salary, bonus or commission received by a partner from a partnership firm, to the extent allowed to the firm under Section 40(b).
9. Income from specific services rendered by a trade, professional or similar association to its members.
## Important Amendment (FA 2024)
Income from the business of renting of house property shall be taxable under "Income from House Property" and NOT under PGBP.