From the following particulars of Mr. P. K. Sharma, calculate total income
and net tax liability for the A. Y. 2019-2020 :
Rs.
(i) Rent from let out properties 20,000
(ii) Long term capital gains (completed) 30,000
(iii) Profit from own business 6,31,000
(iv) Income from lottery (gross) 1,00,000
(v) Net agricultural income 10,000
1
Expert's answer
2021-08-17T10:22:49-0400
Solution:
Total income and tax liability have been calculated as below:
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