The details of income/loss of Keshav engaged upto 30.10.2020 in salaried employment and thereafter in different businesses computed under various heads of income for the previous year 2020-21 are given hereunder: Particu
CS Executive · Tax Laws · PYQS · December 2021
The details of income/loss of Keshav engaged upto 30.10.2020 in salaried employment and thereafter in different businesses computed under various heads of income for the previous year 2020-21 are given hereunder: Particulars of Income/Loss. Amount (₹) Income from Salary 4,60,000 Loss from self-occupied house property 1,25,000 Loss from let-out house property 2,75,000 Loss from specified business u/s 35AD 80,000 Loss from Retail cloth business 1,70,000 Long term capital gain on sale of land 3,00,000 Income from other sources of Interest 1,20,000 The gross total income of Keshav for A.Y. 2021-22 after set off of the losses would be:
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax Act, 1961
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