What are the 7 sources of income?
Here are 7 Income streams for millionaires.
- Earned Income. Earned Income is the money that you earn by doing something or by spending your time e.g. the money that you make in your job, the salary you get by working for someone else.
- Profit Income.
- Interest Income.
- Dividend Income.
- Rental Income.
- Capital Gains.
- Royalty Income.
What are the five sources of income?
There are 5 sources stipulated under the Income Tax Act, 1961, like salary, business or profession, house property, capital gains and other sources. While the nature of income is quite evident for the four sources of income, income under other sources consists of income from residual sources.
How do I find other sources of income?
Multiple Income Streams: 10 Ways to Earn Extra Income
- Taking Paid Surveys at Home: Try Swagbucks.
- eBay Store.
- Start an Online Business.
- Website Design.
- Graphic Artist.
- Virtual Assistant.
- Freelance writer.
What are the different types of income?
There are three types of income- earned, portfolio and passive. There is also a small subset of passive income called non-passive income. Earned income is income that is a direct result of your labor.