A.Y 2021-22

Around 5,46,000 rupees will be total income.
Interest income will not be taxable in India as the income is not accrued in India

1) 6.5% gold bonds,1977 are excluded from the definition of capital assets. So I don't think it can be taxed under capital gains. Not sure if such income is taxable under any other head. 2) I think even foreign income (interest in this case) would be taxable in the hands of residents. 3) Arrears of rent is taxable subject to deduction of 30% Correct me if anything is wrong.

All reason given by CMA poornima madhava are correct but I didn't get my answer .
golds bonds are under sec 2(14) are excluded as capital asset then such income is subject to tax or not

your taxable income would be 

 

Foreign interest income ($2000 x INR 50 Assumed)                 1.0 lac

house property income (4.32+.90 lacs) -30%                         3.654 lac

capital gain bond                                                                       exempt

 

Total income taxable                                                                  4.654 lac

 

 

 

Total income₹ 5.95lacs
income from house property =₹4.32lacs+₹63k=₹4.95lacs
income from other sources=₹1acs(assuming rate of exchange @ ₹50)
bond income exempt

Originally posted by : shrawan choudhary
	Total income₹ 5.95lacsincome from house property =₹4.32lacs+₹63k=₹4.95lacsincome from other sources=₹1acs(assuming rate of exchange @ ₹50)bond income exempt

Correct, I considered  30% deduction u/s 24 as it was not cleared in question. otherwise calculation is ok.  

Considered,sir

Originally posted by : shrawan choudhary
	Considered,sir

Than taxable income will be 5.95 lac as per your calculations

Ok sir