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Scope of Total Income - Problems and Solutions

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RajaKrishnan M

Scope of Total Income - Problems and Solutions

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SCOPE OF TOTAL INCOME Dr. NGPASC COIMBATORE | INDIA Dr. N.G.P. ARTS AND SCIENCE COLLEGE (An Autonomous Institution, Affiliated to Bharathiar University, Coimbatore) Approved by Government of Tamil Nadu and Accredited by NAAC with 'A' Grade (2nd Cycle) Dr. N.G.P.- Kalapatti Road, Coimbatore-641048, Tamil Nadu, India Web: www.drngpasc.ac.in | Email: info@drngpasc.ac.in | Phone: +91-422-2369100 RAJAKRISHNAN M Assistant Professor in Commerce CA
Dr. NGPASC COIMBATORE | INDIA Scope of Total Income 1. Which of the following incomes are taxable when the residential status of Mr. X is Resident, Not Ordinary Resident and Non Resident Particulars Income Accrued in Canada, received in India ₹ 2000 ₹ 5000 were earned in Africa and received there, but brought to India ₹ 5000 earned in India but received in Canada ₹ 10000 earned and received in Sri Lanka from a business controlled from India House Property Income (Computed from Srilanka) ₹ 2000
Dr. NGPASC COIMBATORE | INDIA Scope of Total Income Particulars ₹ 4000 was past untaxed foreign income which was brought to India during the previous year. Profit earned from a business in Kanpur ₹ 10000
Dr. NGPASC COIMBATORE | INDIA Scope of Total Income Computation of Total income of Mr. X for the Assessment Year 2020-21 Particulars OR ₹ NOR ₹ NR ₹ Income Accrued in Canada, received in India ₹ 2000 2000 2000 2000 ₹ 5000 were earned in Africa and received there, but brought to India 5000 NT NT ₹ 5000 earned in India but received in Canada 5000 5000 5000 ₹ 10000 earned and received in Sri Lanka from a business controlled from India 10000 10000 NT House Property Income (Computed from Srilanka) ₹ 2000 2000 NT NT ₹ 4000 was past untaxed foreign income which was brought to India during the previous year. NT NT NT Profit earned from a business in Kanpur ₹ 10000 10000 10000 10000 Total Income 34000 27000 17000
Dr. NGPASC COIMBATORE | INDIA Scope of Total Income 2. Which of the following incomes are taxable when the residential status of Mr. Devilal is Resident, Not Ordinary Resident and Non Resident Particulars Share of income from Joint Venture in India ₹ 10000 Dividend ₹ 10000 Income from agriculture in Pakistan ₹ 20000 Salary received in India ₹ 9000 (Computed) but services for the same is rendered in Iran. Income from business (Controlled from India) in Pakistan ₹ 10000 and income remitted to India
Dr. NGPASC COIMBATORE | INDIA Scope of Total Income Particulars Income earned and received in Pakistan from bank deposit ₹ 5000. Income accrued in India and received in Iran ₹ 10000
Dr. NGPASC COIMBATORE | INDIA Scope of Total Income Computation of Total income of Mr. Mr. Devilal for the Assessment Year 2020-21 Particulars OR ₹ NOR ₹ NR ₹ Share of income from Joint Venture in India ₹ 10000 10000 10000 10000 Dividend ₹ 10000 NT NT NT Income from agriculture in Pakistan ₹ 20000 20000 NT NT Salary received in India ₹ 9000 (Computed) but services for the same is rendered in Iran. 9000 9000 9000 Income from business (Controlled from India) in Pakistan ₹ 10000 and income remitted to India 10000 10000 NT Income earned and received in Pakistan from bank deposit ₹ 5000. 5000 NT NT Income accrued in India and received in Iran ₹ 10000 10000 10000 10000 Total Income 64000 39000 29000
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Scope of Total Income - Problems and Solutions

  • 1. SCOPE OF TOTAL INCOME Dr. NGPASC COIMBATORE | INDIA Dr. N.G.P. ARTS AND SCIENCE COLLEGE (An Autonomous Institution, Affiliated to Bharathiar University, Coimbatore) Approved by Government of Tamil Nadu and Accredited by NAAC with 'A' Grade (2nd Cycle) Dr. N.G.P.- Kalapatti Road, Coimbatore-641048, Tamil Nadu, India Web: www.drngpasc.ac.in | Email: info@drngpasc.ac.in | Phone: +91-422-2369100 RAJAKRISHNAN M Assistant Professor in Commerce CA
  • 2. Dr. NGPASC COIMBATORE | INDIA Scope of Total Income 1. Which of the following incomes are taxable when the residential status of Mr. X is Resident, Not Ordinary Resident and Non Resident Particulars Income Accrued in Canada, received in India ₹ 2000 ₹ 5000 were earned in Africa and received there, but brought to India ₹ 5000 earned in India but received in Canada ₹ 10000 earned and received in Sri Lanka from a business controlled from India House Property Income (Computed from Srilanka) ₹ 2000
  • 3. Dr. NGPASC COIMBATORE | INDIA Scope of Total Income Particulars ₹ 4000 was past untaxed foreign income which was brought to India during the previous year. Profit earned from a business in Kanpur ₹ 10000
  • 4. Dr. NGPASC COIMBATORE | INDIA Scope of Total Income Computation of Total income of Mr. X for the Assessment Year 2020-21 Particulars OR ₹ NOR ₹ NR ₹ Income Accrued in Canada, received in India ₹ 2000 2000 2000 2000 ₹ 5000 were earned in Africa and received there, but brought to India 5000 NT NT ₹ 5000 earned in India but received in Canada 5000 5000 5000 ₹ 10000 earned and received in Sri Lanka from a business controlled from India 10000 10000 NT House Property Income (Computed from Srilanka) ₹ 2000 2000 NT NT ₹ 4000 was past untaxed foreign income which was brought to India during the previous year. NT NT NT Profit earned from a business in Kanpur ₹ 10000 10000 10000 10000 Total Income 34000 27000 17000
  • 5. Dr. NGPASC COIMBATORE | INDIA Scope of Total Income 2. Which of the following incomes are taxable when the residential status of Mr. Devilal is Resident, Not Ordinary Resident and Non Resident Particulars Share of income from Joint Venture in India ₹ 10000 Dividend ₹ 10000 Income from agriculture in Pakistan ₹ 20000 Salary received in India ₹ 9000 (Computed) but services for the same is rendered in Iran. Income from business (Controlled from India) in Pakistan ₹ 10000 and income remitted to India
  • 6. Dr. NGPASC COIMBATORE | INDIA Scope of Total Income Particulars Income earned and received in Pakistan from bank deposit ₹ 5000. Income accrued in India and received in Iran ₹ 10000
  • 7. Dr. NGPASC COIMBATORE | INDIA Scope of Total Income Computation of Total income of Mr. Mr. Devilal for the Assessment Year 2020-21 Particulars OR ₹ NOR ₹ NR ₹ Share of income from Joint Venture in India ₹ 10000 10000 10000 10000 Dividend ₹ 10000 NT NT NT Income from agriculture in Pakistan ₹ 20000 20000 NT NT Salary received in India ₹ 9000 (Computed) but services for the same is rendered in Iran. 9000 9000 9000 Income from business (Controlled from India) in Pakistan ₹ 10000 and income remitted to India 10000 10000 NT Income earned and received in Pakistan from bank deposit ₹ 5000. 5000 NT NT Income accrued in India and received in Iran ₹ 10000 10000 10000 10000 Total Income 64000 39000 29000
  • 8. 8