Mr. X, aged 61 years, earned dividend of 12,00,000 from ABC Ltd. in P.Y. 2024-25. Interest on loan taken for the purpose of investment in ABC Ltd.,…

CA Intermediate · Taxation · MTP · January 2026
Mr. X, aged 61 years, earned dividend of 12,00,000 from ABC Ltd. in P.Y. 2024-25. Interest on loan taken for the purpose of investment in ABC Ltd., is 3,00,000. Income included in the hands of Mr. X for P.Y. 2024-25 would be -
(A) ₹ 12,00,000
(B) ₹ 9,60,000
(C) ₹ 9,00,000
(D) ₹ 2,00,000

Suggested Answer and Working Notes:

Correct Answer: Option (B)

₹ 9,60,000

Topics: Paper 3B: Goods and Services Tax

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