Question: Mr. Dinesh Karthik, a resident individual aged 45, furnishes the following into (i) He is engaged in a business in which he manufactures wheat. The Profit and Loss account pertaining pertaining to the year ended: He is a partner in Badrinath & Co. He has received the following amounts from the firme 3,00.000 interest on capital at 15% 90,000 Salary is working partner (at 1% of firm's sales) this business (summarized form) is as under: To By Salaries 1. 20.000 Gross profit 12. 50,000 Bonus 48,000 Interest on Bank FD (Net of TDS 5.000) 45,000 Car expenses 50,000 Agriculture Income 60,000 Machinery repairs 2. 34,000 Pension from LIC Jeevandhara 24,000 Advance fax 70,000 Depreciation: Car 3.00.000 Machinery 1. 25,000 Net Profit 4. 32.000 13. 79.000 13, 79,000 Depreciation as per IT Rules 2,74,750. One-fifth of the car expenses are towards estimated personal use of the assessee. Gi) In March, 2009, he had sold a house at Chennai. Arrears of rent relating to this house amounting to 000 was received in February, 2020, (iv) Details of his Savings and Investments are as under: Life Insurance premium for policy in the name of his major son employed in LMN Ltd. at a salary of 6 lakh pa, sum assured * 4,00,000 50.000 Contribution to Pension Fund of National Housing Bank 70.000 Medical Insurance premium for his father aged 70, who is not dependent on him 20,000 (v) Rent received from vacant site 60,000 You are required to compute the total income of Mr. Dinesh Karthik for the assessment year and the tus payable by him