Mrs. Radha Chandra, aged 65 years a Resident and ordinary resident in India during the financial year 2024-25. She is Indian classical singer and composer who performs concerts in India and Country P. She visits Country

Computation of Total Income and net tax liability of Mrs. Radha Chandak for the A.Y. 2025-26 paying tax by opting out of section 115BAC of the Income Tax Act Particulars Amount (₹) Amount (₹) Profits and Gains from Business or Profession: Income from concerts held in India 15,00,000 Income from concerts held in Country P [GBP 7,000 x 120] 8,40,000 Total Income from Business or Profession 23,40,000 Income from Other Sources Dividend Income from Indian Company (Gross up) [45000/90 x 100] 50,000 Agricultural Income from Country Q (Taxable since Agricultural income received from outside India) [JPY 13,09,000 - 1,53,000 = 11,56,000 x 1/1.70] 6,80,000 Interest from IDBI bank fixed deposits 2,00,000 Interest from IDBI savings bank account 15,000 Total Income from other sources 9,45,000 Gross Total Income 32,85,000 Less: Deduction under section 80C (1,50,000) Deposit in PPF 1,50,000 Five-year fixed deposit (But restricted to ₹1,50,000, being the maximum limit) 3,00,000 Less: Deduction under section 80D (50,000) Medical insurance premium to insure of her health 22,000 Medical insurance premium to insure her of spouse health (But restricted to ₹50,000, being the maximum allowable for senior citizens) 32,000 Less: Deduction under section 80TTB (50,000) Interest on Bank FD 2,00,000 Interest on Saving Bank Account (But restricted to ₹50,000, being the maximum limit) 15,000 Total Income 30,35,000 Computation of Tax Liability for A.Y. 2025-26 Particulars Amount (₹) Amount (₹) Tax on total income as per normal slab 7,20,500 Income-tax upto 3,00,000 Nil Next 2,00,000 @ 5% 10,000 Next 5,00,000 @ 20% 1,00,000 Remaining 20,35,000 @ 30% 6,10,500 Add: Health and Education Cess @ 4% 28,820 Tax on Total Income 7,49,320 Average rate of tax in India (i.e., ₹7,49,320/ ₹30,35,000 x 100) 24.689% Double tax Relief u/s 91 pertaining to Country P: Indian Tax Rate @ 24.689% Or Tax rate in country P @ 28.571% (2,000/7,000 x 100) Whichever is lower (Relief u/s 91 = 8,40,000 x 24.689%) (2,07,388) Double tax Relief u/s 91 pertaining to Country Q: Indian Tax Rate @ 24.689% Or Tax rate in country Q @ 18% Whichever is lower (Relief u/s 91 = 6,80,000 X 18%) (1,22,400) Net Tax Liability after Relief u/s 91 (7,49,320 - 2,07,388 - 1,22,400) 4,19,532 Net tax liability (rounded off) 4,19,530