Anand, a resident individual having computed for the previous year 1st April, 2017 to 31st March, 2018 his business loss at ₹60,000, short term capital gain on sale of gold of ₹40,000 long term capital gain on sale of ho

CS Executive · Tax Laws and Practice · PYQS · December 2018
Anand, a resident individual having computed for the previous year 1st April, 2017 to 31st March, 2018 his business loss at ₹60,000, short term capital gain on sale of gold of ₹40,000 long term capital gain on sale of house property of ₹3,60,000. The amount of total income to be declared in the return for the assessment year 2018-19 by Anand shall be ..........
(A) ₹4,00,000
(B) ₹3,40,000
(C) ₹4,00,000 and carry forward loss of ₹60,000
(D) None of the above

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Income Tax Act, 1961

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