Answer to Question #226279 in Accounting for Khursheed

Question

From the following particulars of Mr. P. K. Sharma, calculate total income and net tax liability for the A. Y. 2019-2020 :

(i) Rent from let out properties
20,000
(ii) Long term capital gains (completed)
30,000
(iii) Profit from own business
6,31,000
(iv) Income from lottery (gross)
1,00,000
(v) Net agricultural income
10,000

Answer 1

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