Mr. Garg, aged 45 years and a resident in India, is having a total income of 5,70,000 comprising of long term capital gains taxable under section…

CA Intermediate · Taxation · RTP · May 2024
Mr. Garg, aged 45 years and a resident in India, is having a total income of 5,70,000 comprising of long term capital gains taxable under section 112 of 70,000, long term capital gains taxable under section 112A of 1,50,000, short term capital gains taxable under section 111A of 1,00,000 and other income of 2,50,000. Compute his tax liability for A.Y. 2024-25 under the default tax regime under section 115BAC.
(A) Nil
(B) ₹ 5,200
(C) ₹ 9,360
(D) ₹ 19,760

Suggested Answer and Working Notes:

Correct Answer: Option (B)

₹ 5,200

Topics: Paper 3B: Goods and Services Tax

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