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.
Suggested Answer and Working Notes:
Correct Answer: Option (B)
₹ 5,200
Topics: Paper 3B: Goods and Services Tax
Related Questions in this Topic
- Who is liable to collect TCS (collection of tax at source) under section 52 of the CGST Act, 2017? Briefly explain the p...
- Answer the following questions, assuming that suppliers are registered under GST: (a) Bhagwati Roadlines is a registere...
- Determine the place of supply in each of the following independent circumstances: (i) Ms. Kavya, Delhi is a passenger t...
- Nakshatra Comforts Ltd. is engaged in providing various services in Delhi. It obtained registration under regular scheme...
- Stellar Orbit Appliances Pvt. Ltd., a registered person in Pune, Maharashtra, is engaged in supplying a bouquet of goods...