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Explain the tax treatment of income from undisclosed sources

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Reference no: EM133127017

1. Explain the tax treatment of income from undisclosed sources of income. [Hint: Your answer should also include how the tax treatment of all other types of income is different from undisclosed incomes. Using an example would be a better solution]

2. Enumerate the items of deductions allowable in computing income from other sources.

Reference no: EM133127017

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