Shivsagar (age 64) is a retired pensioner with pension of ₹3,20,000 received during the previous year 2020-21. He has lottery winning of ₹6 lakhs on 23.03.2021. Compute his income tax liability for the assessment year 20
CS Executive · Tax Laws · PYQS · June 2021
Shivsagar (age 64) is a retired pensioner with pension of ₹3,20,000 received during the previous year 2020-21. He has lottery winning of ₹6 lakhs on 23.03.2021. Compute his income tax liability for the assessment year 2021-22.
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
Related Questions in this Topic
- What is the base financial year for calculation for Cost Inflation Index under Income Tax Act 1961?
- During the Financial Year 2023-24 Mr. K won a lottery for ₹ 5,00,000, from this lottery income he deposited ₹ 1,50,000 i...
- Political parties are required to submit their Income Tax Return under which Form?
- The amount specified in the notice of demand under the Income Tax Act is required to be paid within __________ days, oth...
- The assessee who is not satisfied with the order of the assessing officer can: