Answers!
HI Gurusant
According to us,the answer is 70700 and not 85200 as calculated below
PARTICULARS
Taxable
Amt
Director Fee from Company
10000
Interest on Bank Deposit
3000
Income form Undisclosed Sources
12000
Winning from Lotteries
24500
Royalty on Book
8000
Less Allowed Expenses
1000
Net amt taxable
7000
Lectures in function
5000
Interest on loan to relative
7000
Interest on tax free debentures
0
Dividend on shares
0
Interest on Post office savings bank
0
Interest on Govt Securities
2200
TOTAL INCOME FROM OTHER SOURCES
70700
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Answer the question...
HI Gurusant
According to us,the answer is 70700 and not 85200 as calculated below
| PARTICULARS |
Taxable Amt |
|
| Director Fee from Company | 10000 | |
| Interest on Bank Deposit | 3000 | |
| Income form Undisclosed Sources | 12000 | |
| Winning from Lotteries | 24500 | |
| Royalty on Book | 8000 | |
| Less Allowed Expenses | 1000 | |
| Net amt taxable | 7000 | |
| Lectures in function | 5000 | |
| Interest on loan to relative | 7000 | |
| Interest on tax free debentures | 0 | |
| Dividend on shares | 0 | |
| Interest on Post office savings bank | 0 | |
| Interest on Govt Securities | 2200 | |
| TOTAL INCOME FROM OTHER SOURCES | 70700 |
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