Mr. Veer, a resident individual aged 45 years, has a total income of 4,05,00,000 for A.Y. 2025-26. His income includes a computed salary of…
CA Final · Direct Tax Laws and International Taxation · MTP · May 2025
Mr. Veer, a resident individual aged 45 years, has a total income of 4,05,00,000 for A.Y. 2025-26. His income includes a computed salary of 1,80,00,000, long-term capital gains of 60,00,000 taxable at 20% under section 112, and - 45,00,000 under section 112A from a transfer on 23rd December 2024. He also earned short-term capital gains of 1,00,00,000 under section 111A from a transfer on 10th January 2025 and interest income of 20,00,000. What would be his tax liability for A.Y.2025-26, assume he has opt out for the default tax regime u/s 115BAC?
Suggested Answer and Working Notes:
Correct Answer: Option (C)
₹ 1,14,33,010
Topics: Assessment of Trusts and Institutions, Political Parties and Other Special Entities, Capital Gains
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