Ratan Lal, aged 55 years, resident in India having during the previous year 2019-20 income of winnings from races: ₹20,000 (expenditure incurred: ₹200), Short Term Capital Gain: ₹1,75,000 (applicable STT paid) Interest o
CS Executive · Tax Laws and Practice · PYQS · December 2020
Ratan Lal, aged 55 years, resident in India having during the previous year 2019-20 income of winnings from races: ₹20,000 (expenditure incurred: ₹200), Short Term Capital Gain: ₹1,75,000 (applicable STT paid) Interest on Bank Fixed Deposits: ₹2,31,000 and had made contribution in public provident fund: ₹1,14,000. Total income of Ratan Lal for assessment year 2020-21 shall be ______.
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Computation of Total Income
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