The following incomes are derived by Pranshul an individual for the financial year ended 31st March, 2021: Particulars Amount (₹) Agriculture income from Lands in Tanzania 3,50,000 Rent received from let out House Proper

Taxability of Total Income of Mr. Pranshul for AY 2021-22 Particular Amount in ₹ If Assessee is Resident If Assessee is Non-Resident Agriculture income from Lands in Tanzania 3,50,000 ₹3,50,000 Fully Taxable, as only agriculture income from land situated in India is exempt. Not Taxable, Since the income has accrued and arisen outside India. Rent received from let out House Property in Washington USA 4,90,000 Taxable ₹3,43,000 (after standard deduction @ 30%) as global income is taxable in the hands of Resident. Not Taxable, Since the income has accrued and arisen outside India. Pension received from the British Government 6,23,000 Taxable ₹5,73,000 (after deducting ₹50,000 as standard deduction), as global income is taxable in the hands of resident. Not Taxable, since the income has accrued and arisen outside India. Interest received from Govt. of India 30,000 ₹30,000 Fully Taxable, global income is taxable in the hands of Resident ₹30,000 Fully Taxable, Since the income has accrued and arisen in India. Dividend received from an Indian Co., ONGC Ltd. 15,000 ₹15,000 Fully Taxable, Since the income has accrued and arisen in India and w.e.f. 1.04.2020 (i.e. financial year 2020-21), dividend declared, distributed or paid by a domestic company shall be taxable in the hands of the recipient. (W.N. 1) ₹15,000 Fully Taxable, Since the income has accrued and arisen in India and w.e.f. 1.04.2020 (i.e. financial year 2020-21), dividend declared, distributed or paid by a domestic company shall be taxable in the hands of the recipient. (W.N. 1) Gross Total Income: For Resident: ₹3,50,000 + ₹3,43,000 + ₹5,73,000 + ₹30,000 + ₹15,000 = ₹13,11,000 For Non-Resident: ₹0 + ₹0 + ₹0 + ₹30,000 + ₹15,000 = ₹45,000 Working Note 1: Section 115-O relating to dividend distribution tax payable by the domestic company shall not be applicable on or after 1.04.2020. Hence w.e.f. 1.04.2020 (i.e. financial year 2020-21), dividend declared, distributed or paid by a domestic company shall be taxable in the hands of the recipient.