How are the following treated while estimating national income?
(i) S Services of owner occupied houses.
(ii) Profit earned by foreign banks in India.
(iii) Rent received by Indian residents of building rented out to the foreign embassies in India.
(iv) Sale of an old car.
(v) Windfall gains.
(i) SImputed rent of owner occupied houses will be included in national income.
(ii) Profit earned by foreign banks in India will not be included in India's national income.
(iii) It will be included in national income.
(iv) Sale of an old car will not be included in national income since the car does not form part of current production. It was treated as a part of national product in the year it was produced.
(v) Windfall gains (like gains from lottery, war, etc.) will not be included in national income since there is no corresponding addition in the flow of goods and services.
