Dr. Kumar gifted a property fetching monthly rental income of ₹1,00,000 to his son's wife Divya on 31.05.2020 by executing a gift settlement deed. She paid municipal tax of ₹30,000 on 10.12.2020. Based on court decree ar
CS Executive · Tax Laws · PYQS · June 2021
Dr. Kumar gifted a property fetching monthly rental income of ₹1,00,000 to his son's wife Divya on 31.05.2020 by executing a gift settlement deed. She paid municipal tax of ₹30,000 on 10.12.2020. Based on court decree arrear rent of ₹4 lakhs was paid by ex-tenant to present owner Divya on 01.03.2021. How much of income of Divya would be clubbed in the hands of Dr. Kumar?
Answer & Explanation:
The official key records '*'. This question is excluded from automatic grading because the source does not supply an unambiguous valid choice. Official source note: None of the options are correct. Correct answer is ₹ 959000.
Topics: Income Tax
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