(1) Mr Shiva gifted a let out building which fetches rental income of rs 10500 per month to his son's wife on
1-11-2016 the muncipal tax of 6000 on the property was paid on 10-1-2017 the total income from all sources is 260000 except income from above said property so taxable amount
(1) 311450
(2)344000
(3),380000
(4) 333500
(2) Mr hussey for the previous year has business loss 130000, income from salary 240000, speculation gain 110000 his total income is
(1). 350000
(2) 220000
(3) 240000
(4) 110000
(3) Deduction us 80G on account of deductions is allowed to
(1) a business assessee only
(2)any assessee
(3) individual or huf only
(4)any resident assessee
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Replies (2)
| Originally posted by : Sanjay Jain | ||
 |
(1) Mr Shiva gifted a let out building which fetches rental income of rs 10500 per month to his son's wife on1-11-2016 the muncipal tax of 6000 on the property was paid on 10-1-2017 the total income from all sources is 260000 except income from above said property so taxable amount(1) 311450(2)344000(3),380000(4) 333500 | |
OPTION 2 IS CORRECT
| Originally posted by : Sanjay Jain | ||
|
(2) Mr hussey for the previous year has business loss 130000, income from salary 240000, speculation gain 110000 his total income is(1). 350000(2) 220000(3) 240000(4) 110000 |  |
OPTION 3 IS CORRECT AS SPECULATIVE LOSS CANT BE SET OFF WITH BUSINESS INCOME BUT BUSINESS LOSS CAN BE SET OFF WITH SPECULATIVE INCOME
AND ONE THING MORE BUSINESS LOSS CANT BE SET OFF WITH SALARY
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