The following incomes of the taxpayer shall be classified as income from business, namely: -

(a)   any profits and gains of a business carried on or carried on by the taxpayer at any time during the income year;

(b)   any income derived by any business or professional organization or by any such organization from rendering certain services to its members;

(c)   the fair market value of any benefit arising out of or in continuation of a person's past, present or potential future business relationship, whether or not convertible into cash;

(d)   any management fee incurred by any management company, including Mudaraba Management Company;

(e)   any amount due to the lessor bank, insurance or financial institution against the lease of any asset owned by himself or another to any other person,

(f)    realized gain from currency exchange subject to the Third Schedule;

(g)   any income received during the income year from a discontinued business.