Section 10: Income included in gross income

10. Income included in gross income (1) Subject to the other provisions of this Act, the gross income of an individual shall include— (a) any advantage in money or in money’s worth which is— (i) salary, wages, leave pay, fee, overtime pay, perquisite, allowance, bonus, gratuity, commission or other reward or remuneration in respect of or in relation to the office or employment of that individual; I5 – 17 [Issue 6] Income Tax Act (ii) superannuation, compensation for loss of office, pension (including any pension in respect of which a deduction is allowed under section 23 or 62, as the case may be), retiring allowance, annuity or other reward in respect of or in relation to past employment or loss or reduction of future income of that individual, whether receivable by that individual or by any person who is or has been the spouse or dependant of that individual; (b) any gross income derived from any business; (c) any rent, royalty, premium or other income derived from property; (d) any dividend, interest, charges, annuity or pension, other than a pension referred to in paragraph (a) (ii); (e) basic retirement pension payable under the National Pensions Act; (f) any gross income, in money or money’s worth, derived from the sale of immovable property in the course of any business falling under paragraph (b); and (g) any other income derived from any other source. (2) For the purposes of subsection (1) (a), any advantage in money or money’s worth shall include— (a) any rent allowance, housing allowance, entertainment allowance, transport allowance, travelling allowance, travel grant, commuted travelling allowance or reimbursement of travelling expenses, petrol allowance, driver’s allowance or any other allowance or sum by whatever name called; (b) any reimbursement of the cost or payment of personal and private expenses of the employee by the employer; (c) any reimbursement of the cost or payment of passages, by sea, air or land between Mauritius and another country on behalf of the employee, his spouse and dependants; and (d) such fringe benefits as may be prescribed. (3) For the purpose of subsection (1) (b), the gross income derived from a business shall include— (a) any sum or benefit, in money or money’s worth, derived from the carrying on or carrying out of any undertaking or scheme entered into or devised for the purpose of making a profit, irrespective of the time at which the undertaking or scheme was entered into or devised; (b) any sum or benefit derived from the extraction, removal or sale of any mineral, tree or wood; (c) any sum or benefit, in money or money’s worth, derived from the sale of any immovable property or interest in immovable property, where the property was acquired in the course of a business the main purpose of which is the acquisition and sale of immovable property; [Issue 6] I5 – 18 Revised Laws of Mauritius (d) any increase in the value of trading stock on hand at the time of transfer by sale or otherwise of a business or on the reconstruction of a company; and (e) any subsidy derived in the carrying on of a business. [S. 10 amended by s. 9 (b) of Act 9 of 1997 w.e.f. 1 July 1997; repealed and replaced by s. 18 (d) of Act 15 of 2006 w.e.f. 1 July 2006; amended by s. 9 (b) of Act 10 of 2010 w.e.f. 1 January 2011; s. 8 (c) of Act 37 of 2011 w.e.f. 5 November 2011.] 10A. — [S. 10A inserted by s. 9 (c) of Act 10 of 2010 w.e.f. 1 January 2011; repealed by s. 8 (d) of Act 37 of 2011 w.e.f. 5 November 2011.]