Rupam has computed his gross total income of ₹5,60,000 for the Asessement Year 2021-22 which includes ₹4,70,000 on account of long-term capital gain from sale of equity shares which are taxable us 112A of the Income Tax
CS Executive · Tax Laws and Practice · PYQS · June 2021
Rupam has computed his gross total income of ₹5,60,000 for the Asessement Year 2021-22 which includes ₹4,70,000 on account of long-term capital gain from sale of equity shares which are taxable us 112A of the Income Tax Act. He paid ₹1,30,000 as premium of life insurance taken for his own life. Compute the amount of total income of Rupam if he is a senior citizen. (Assuming assessee has not opted for section 115BAC)
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax Act, 1961
Related Questions in this Topic
- How much is the fee for filing an application for advance ruling ?
- In addition to GAAR there also exists SAAR which specifically aim at certain arrangements of tax avoidance. What is the ...
- Form No. __________ is applicable to resident/non-resident who seeks advance ruling in respect of impermissible avoidanc...
- Under the scheme of Advance Ruling, the power of giving advance ruling has been entrusted by the __________ to an indepe...
- Deduction under section 80GG is allowed only to: