The following four Cases make different assumptions with respect to the amounts of income and deductions of Mr. John for the current year in India:

Case I Case II Case III Case IV

Employment Income 35,000 33,000 16,000 28,000

Income (Loss) From Business (10,000) (39,000) 22,000 15,000

Income (Loss) From Property 12,000 14,000 (21,000) (36,000)

Taxable Capital Gains 42,000 36,000 32,000 21,000

Allowable Capital Losses (18,000) (42,000) (69,000) (27,000)

Subdivision e Deductions (80C) (4,000) (7,000) (5,000) (11,000)

a. Required For each Case, calculate Mr. Johns Net Income for tax purposes.

b. Indicate the amount and type of any loss carry overs that would be available at the end of the current year.