Imp: i have to submit the test paper as soon as possible.
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 August 2013
Mr. Madhur submits the following information for previous year 2012-13 relevant to the assessment year
2013-14:
1. Profit from Business A situated in Delhi 2,50,000
2. Profit from Business B situated in Bombay 80,000
3. Loss from Business C carried in New York (the business is controlled from India
but profits are not received in India) 40,000
4. Unabsorbed depreciation of business C 35,000
5. Income from house property situated in India 15,000
6. Income from house property situated in London (rent received in London) 20,000
Find out the Gross Total Income of Madhur for the Assessment Year 2013-14.
2013-14:
1. Profit from Business A situated in Delhi 2,50,000
2. Profit from Business B situated in Bombay 80,000
3. Loss from Business C carried in New York (the business is controlled from India
but profits are not received in India) 40,000
4. Unabsorbed depreciation of business C 35,000
5. Income from house property situated in India 15,000
6. Income from house property situated in London (rent received in London) 20,000
Find out the Gross Total Income of Madhur for the Assessment Year 2013-14.
CA PARTH SHAH
(Expert)
15 December 2014
Assuming Mr Madhur is resident, total taxable income of Mr Madhur for AY 13-14 is Rs 250000+80000-40000-35000+15000+20000=Rs 2,90,000
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