Ayaan, aged 75 years and a resident in India, has a total income of ₹2,60,00,000, comprising long term capital gain taxable under section 112 of ₹35,00,000, long term capital gain taxable under section 112A of ₹30,00,000
CS Executive · Tax Laws · PYQS · December 2022
Ayaan, aged 75 years and a resident in India, has a total income of ₹2,60,00,000, comprising long term capital gain taxable under section 112 of ₹35,00,000, long term capital gain taxable under section 112A of ₹30,00,000 and other income of ₹1,95,00,000. What would be his tax liability for A.Y. 2022-23. Assume that Ayaan has not opted for the provisions of section 115BAC:
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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