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i need exact answer , otherwise i will dislike tou by 2 times , please be careful,otherwise you may skip Mr. X provides the following
i need exact answer , otherwise i will dislike tou by 2 times , please be careful,otherwise you may skip
Mr. X provides the following information for the year ending 31.03.2020: Rent from vacant site let on lease 1,12,000 (ii) Rent from house property at Delhi 20,000 p.m. (111) Tumover from retail trade in grains (No books of account maintained) 24,37,500 (iv) Arrears of salary received from ex-employer 40,000 (v) Purchase of 10,000 shares (non listed) of X Co. Ltd., on 01.01.2017 1,00,000 He received a 1:1 bonus on 01.01.2019. Sale of 5,000 bonus shares in September, 2019 2,20,000 (vi) Received 1,50,000 on 12.02.2020 being amount due from Mr. A relating to goods supplied by Mr. X's father, which was written off as bad debt by his father in Assessment Year 2018-19 and allowed as deduction. Mr. X's father died in July 2018. (vi) Brought forward business loss relating to discontinued textile business of Mr. X relating to the Assessment Year 2018-19. 1,97,500 (viii) Brought forward depreciation relating to discontinued textile business of Mr. X. 1,50,000 (ix) Mr. X contributed 30,000 to Prime Minister's National Relief Fund and 40,000 to Charitable Trust enjoying exemption u/s 80G by cheque. Compute the Total Income and the Tax thereon of Mr.X for the Assessment Year 2020-21Step by Step Solution
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