Mr. Soloman, a resident in India, aged 70 and has the following income for the previous year 2017-18. (All the incomes given below are the computed income): (i) Pension from employer ₹ 2,30,000 (ii) Rental Income under H

CS Executive · Tax Laws and Practice · PYQS · June 2018
Mr. Soloman, a resident in India, aged 70 and has the following income for the previous year 2017-18. (All the incomes given below are the computed income): (i) Pension from employer ₹ 2,30,000 (ii) Rental Income under House Property ₹ 2,00,000 (iii) Agricultural income from a land in Jaipur ₹ 60,000 His total tax liability for A.Y. 2018-19 is:
(A) ₹ 14,420
(B) ₹ 3,240 after rebate u/s 87A
(C) ₹ 8,240
(D) Nil, because total income is less than ₹ 5,00,000
(E) ₹ 6,700 (round off)

Answer & Explanation:

Correct Answer: Option (E)

Official corrected answer: (E) ₹ 6,700 (round off). The official solution adds this fifth choice as an erratum to the printed question.

Topics: Income Tax Act, 1961

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