Annamalai has income from business of ₹5,50,000 and loss from horse race of ₹60,000 of the previous year 2018-19. He has brought forward discontinued business loss of ₹1,10,000 of the assessment year 2010-11 and regular
CS Executive · Tax Laws and Practice · PYQS · December 2019
Annamalai has income from business of ₹5,50,000 and loss from horse race of ₹60,000 of the previous year 2018-19. He has brought forward discontinued business loss of ₹1,10,000 of the assessment year 2010-11 and regular business loss of ₹90,000 of assessment year 2017-18. His total income for the assessment year 2019-20 after set off of eligible losses would be :
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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