Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

State how the following incomes are to be assessed n the hands of an assessee who is a. Resident s6 6 b. Non-resident and c.

image text in transcribed

State how the following incomes are to be assessed n the hands of an assessee who is a. Resident s6 6 b. Non-resident and c. Non resident 1. Salary received during the year for employment outside india from government of india Rs. 50000 2. Profits earned in UK and received in India rs. 35000 3. Salary drawn for employment in Singapore office of an indian company for two months Rs. 7500 4. Dividend received from an Indian company Rs. 8000 5. Profit earned from business transaction outside india and kept in Punjab national bank rs, 25000 + Particulars of income Resident Not ordinarily resident Non resident 50000 50000 35000 35000 Nil Nil Income accruing or arising in india. But received 50000 outside india Profit earned in UK and received in india 35000 Salary drawn for employment in Singapore from an 7500 Indian company Profit earned from business transaction outside india 25000 and kept in Punjab national bank 117500 Note: dividend from a domestic company is exempt in all cases. Nil Nil 85000 85000 Hlustration From the following particulars submitted by mis rabeeha as regards her income in the previous year 2018-19 compute her gross total income if she is a c. Resident and ordinary resident b. Resident but not ordinary resident and Non resident 1. Income from agriculture in srilanka received in Srilanka and remitted to india.Rs. 25000 2. Pension from an Indian employer received abroad Rs. 12000 3. Past untaxed profits brought to india Rs. 50000 4. Rental income from the property in Nepal received outside india Rs. 17000 5. Annual value of a single self occupied property in india Rs. 3600

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Intermediate Accounting

Authors: J. David Spiceland, James Sepe, Mark Nelson

6th edition

978-0077400163

Students also viewed these Accounting questions