Question 6: Mr. Raghuveer, a resident individual aged 35 years, furnished the following information from his Profil and Loss Account for the year ended 315 March 2019: (i) The net profit was 6,50,000. (ii ) The following incomes were credited in the Profit & Loss Account: (a) Interest on government securities 25,000 (b) Dividend from a foreign company 18,000. (c) Gold coins worth 55,000 received as gift from him father. (ii) Depreciation debited in the books of account was 85,000. Depreciation allowed as per Income-tax Act, 1961 was 96,000. (iv) Interest on loan amounting to * 68,000 was paid in respect of capital borrowed for the purchase of the new asset which has not been put to use till 31" March, 2019. (v) General expenses included: (a) An expenditure of $20,500 which was paid by a bearer cheque. (b) Compensation of * 4,500 paid to an employee while terminating his services in business unit. Additional Information: He contributed the following amounts by cheque: (c) *45,000 in Sukanya Samridhi Scheme in the name of his minor daughter Alpa. (d) *20,000 to the Swachh Bharat Kosh set up by the Central Government. (e) 28,000 towards premium for health insurance and * 2,500 on account of preventive health check up for self and his wife. (1) * 35,000 on account of medical expenses of his father aged 82 years (no insurance scheme had been availed on the health of his father). You are required to compute the total income of Mr. Raghuveer for the Assessment Year 2019-20. [Nov 2016