Section 9 : Computation of income earned from investment

1)  the profits and benefits derived by any person from investment in any income year shall be the income earned by that person from investment in that year.

2)  The following amounts received by any person in any income year shall be included in computing the profits and benefits derived by that person from investment in that income year:

a) Dividend, interest derived from that investment, payment for natural resources, rent, royalty, profit from investment insurance, profit from interest in a retirement fund which has not got approval pursuant to Sub-section (1) of Section 63 or retirement payment made from the approved retirement fund,

b) Net profits derived from the disposal of nonbusiness taxable property of the investment of that person, computed pursuant to Chapter 8,

c) If, in disposing of the depreciable property of the investment made by that person, the incomings to be received exceed the remaining value comprising the outgoings made for the property of the group of depreciable property pursuant to clause (a) of sub-section (2) of Section 4 of Schedule II, the excess amount,

d) Gift received by that person in respect of investment,

e) Retirement payment made in respect of that investment and retirement contribution, including the amount deposited in the retirement fund for that person,

f) Amounts received for having accepted any restriction in respect of investment and

g) Other amounts required to be included pursuant to Chapter 6 or 7 or Section 56.

3) Notwithstanding anything contained in sub-section (2), the following matters shall not be included in computing profits and benefits derived by any person from investment:

a) The amounts deductible under Sections 10, 54 and 69 and payment from which tax is withheld finally, and

b) The amounts to be included in computing income by that person from employment or business.