From the following information compute the total income of Mr. X for the assesmement year 11-12 and calculate his tax liability assuming he is not allowed any deduction under sections 80c to 80u.
Income from salary - 180000
Income from H.P - 40,000
Business Loss - (-)1,90,000
Loss from a specified business referred to under section 35AD – (-)60,000
Short term capital loss (-)60,000
Long term capital gain 2,40,000
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