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Pls. Solve

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(Querist)
10 December 2010 Dear all

Pls. solve the below the sum:

Compute the total income of Mr. Budhiraja for the Assessment Year 2009-10 and Calculate his tax liability :

Income form Salary 1,20,000
Income from House property 40,000
Business loss 1,80,000
Short-term capital loss 60,000
Long-term capital gain 1,40,000

with thanks
k a k
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
10 December 2010 Computation of Income :

Income form Salary 1,20,000
Income from House property 40,000
Less: Business Loss -40000 0


Business loss 1,80,000
set off a/g HP 40,000
Set Off a/g LTCG 80,000 -40000


Long-term capital gain 1,40,000
Short-term capital loss -60,000
Business loss -80,000 0
---------
Gross Total Income 120000

40000 business loss will be c/fd
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Arun Iyer

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Arun Iyer (Querist)
10 December 2010 Thank you Sir
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