How to add Other Incomes?

This guide will help you add your incomes from other sources such as interest, dividends and more in the save module.

What are Other Incomes?

Think of "other incomes" as your financial catch-all. It includes things like bank interest, investment returns, and even gifts you've received.

Adding Other Incomes

Adding other incomes in Quicko is as easy as 1-2-3! Here's how:

Head over to Save> Begin> Other incomes. Here you will have multiple other incomes to choose from.

1. Interest Income: Within interest incomes you can add interests received from the following sources,

   • Savings Account
   • Fixed Deposit
   • Employee Provident Fund
   • Recognized Provident Fund
   • IT Refund
   • Public Provident Fund
   • Any other interest incomes
     (If the total interest income from such sources exceeds INR 10,000, then the banks will deduct TDS @ 10%. But relax, this can be claimed under sections 80TTA/TTB!)

2. Dividend Incomes: Earned dividends from the stocks you hold? Add them in the respective quarter you received them in along with any related expense you made,

   • Quarter 1 - From 1st April 2023 to 15th Jun 2023
   • Quarter 2 - From 16th Jun 2023 to 15th Sept 2023
   • Quarter 3 - From 16th Sept 2023 to 15th Dec 2023
   • Quarter 4 - From 16th Dec 2023 to 31st Mar 2024

3. Gift Incomes : Received a windfall from a loved one? Report it here. Your gifts can fall under the following types,

   • Immovable Gifts
   • Movable Gifts
   • Monetary Gifts

4. Royalty Incomes : Earned royalties from your book or a brilliant invention? Add them here!

   • Royalty from Books
   • Royalty from Patents

5. Any Other : The following types of incomes can be added

   • Family Pension
   • Exempt Income
   • Agricultural Income
   • Other (Got an income source that doesn't fit the above? No problem! This category lets you include anything we might have missed.)

If you have already added other incomes but missed out on adding some details, worry not you can always go back and edit.

You have successfully added your other incomes, if you have added all your incomes, you can move on to claiming your deductions viewing your tax situation.