Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 23, 2024

40. Mr. X aged, 61 years, received dividend of * 12,00,000 from ABC Ltd. in P.Y. 2020-21. Interest on loan taken for the purpose of

image text in transcribed

40. Mr. X aged, 61 years, received dividend of * 12,00,000 from ABC Ltd. in P.Y. 2020-21. Interest on loan taken for the purpose of investment in ABC Ltd., is * 3,00,000. Income included in the hands of Mr. X for P.Y. 2020-21 would be

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Principles Volume 1

Authors: Jerry A. Weygandt, Paul D. Kimmel, Donald E. Kieso

11th Edition

1118751752, 978-1118751756

More Books

Students also viewed these Accounting questions

Question

★★★★★

Cecille Paper Company uses softwood and hardwood pulp as basic materials for producing converter-grade paper. Hardwood is 80% pulp fiber and 20% pulp binder, while softwood is 50% pulp fiber and 50%...

Answered: 1 week ago

Question

★★★★★

What tools can you use to identify the impact of various stakeholders on the firm and the impact of the firm on various stakeholders?

Answered: 1 week ago

Question

★★★★★

Is the proposed data collection tool appropriate for the people and conditions of the proposed research?

Answered: 1 week ago

Question

★★★★★

Model 99 Hotels is considering the construction of a new hotel for $80 million. The expected life of the hotel is 20 years with no residual value. The hotel is expected to earn revenues of $15...

Answered: 1 week ago

Question

★★★★★

The expectation theory describes that investor expectations alone can change the yield curve shape.

Answered: 1 week ago

Question

★★★★★

Steve Lee, the Engineering Manager, delegates tasks as a good manager should. However, Mark Hayes, the Engineering Director, has the bad habit of calling up Steve unexpectedly to get detailed reports...

Answered: 1 week ago

Question

★★★★★

PROBLEM 1 A four-bar mechanism is shown in its starting position in the figure above. You are to synthesize this mechanism for two positions such that tracer point P moves from coordinates 4.278 in.,...

Answered: 1 week ago

Question

★★★★★

A metal halide lamp has a correlate color temperature or effective blackbody temperature of 20103 K. Determine the emitted hemispherical power in a vacuum over the visible spectrum (0.4-0.7 m) and...

Answered: 1 week ago

Question

★★★★★

Based on the new case/reading, i.e., Finding Information for Industry Analysis (HBS, 2008), identify a minimum of five (5) sources of information which you would recommend to Eric Migicovsky (as of...

Answered: 1 week ago

Question

★★★★★

Audimax company is an electronics company specializing in the manufacture of home audio equipment . Historically, the company has used solely financial performance measures to asses the performance...

Answered: 1 week ago

Question

★★★★★

(20 points) Prismatic bars of various thin-walled cross-sections of uniform thickness t (shown below) are to be loaded in torsion. Calculate the torsion constant for each shape below, Ji (i = 0, 1,...

Answered: 1 week ago

Question

★★★★★

1. What should the city do prior to issuing personal protective equipment?

Answered: 1 week ago

Question

★★★★★

4. Based on what youve seen to this point, how comprehensive would you say that the companys safety program is? What additional steps should it take?

Answered: 1 week ago

Question

★★★★★

6. Do you agree that safety in the office is a matter of attitude? Why?

Answered: 1 week ago

Previous Question Next Question