SlideShare a Scribd company logo
SCOPE OF TOTAL INCOME
Dr. R. PREMA
Assistant Professor in
Commerce
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
Particulars
₹ 4000 was past untaxed foreign income which was brought to India
during the previous year.
Profit earned from a business in Kanpur ₹ 10000
Computation of Total income of Mr. X for the Assessment Year 2021-22
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 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
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
Particulars
Income earned and received in Pakistan from bank deposit ₹ 5000.
Income accrued in India and received in Iran ₹ 10000
Computation of Total income of Mr. Mr. Devilal for the Assessment Year 2021-22
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
is rendered in Iran.
9000 9000 9000
Income from business (Controlled from India) in Pakistan ₹ 10000
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
3. Which of the following incomes are taxable when the residential status of Shri
Deepak is Resident, Not Ordinary Resident and Non Resident
Particulars
Dividend from Indian Company ₹ 10,000
Profit from business in Japan received in India ₹ 120,000
Profit from business in Pakistan deposited in a bank there. This business is
controlled from India ₹ 2,00,000
Profit from business in Indore(Controlled by London Head office) ₹
Interest received form non-resident Mr Rahim, on the loan provided to
for a business carried on in India ₹ 50,000
Particulars
Income was earned in America and received there, but brought in
India ₹80,000
Share of Income from Indian Partnership firm ₹1,50,000
Income from house property in India received in America
₹62,000
Interest on debentures of an Indian Company received in Dubai ₹
25,000
Capital Gain on sale of agricultural land situated at Ajmer ₹ 48,000
Computation of Total income of Mr. X for the Assessment Year 2021-22
Particulars
OR
₹
NOR
₹
NR
₹
Dividend from Indian Company ₹ 10,000 NT NT NT
Profit from business in Japan received in India ₹ 120,000 120000 120000 120000
Profit from business in Pakistan deposited in a bank there. This business is controlled from
India ₹ 2,00,000
200000 200000 NT
Profit from business in Indore(Controlled by London Head office) ₹ 1,10,000 110000 110000 110000
Interest received from non-resident Mr Rahim, on the loan provided to him for a business
carried on in India ₹ 50,000
50000 50000 50000
Income was earned in America and received there, but brought in India ₹80,000 80000 NT NT
Share of Income from Indian Partnership firm ₹1,50,000 NT NT NT
Income from house property in India received in America (computed) ₹62,000 62000 62000 62000
Interest on debentures of an Indian Company received in Dubai ₹ 25,000 25000 25000 25000
Capital Gain on sale of agricultural land situated at Ajmer ₹ 48,000 48000 48000 48000
Total Income
695000 615000 415000
4. Which of the following incomes are taxable when the residential status of Mr. X is
Resident, Not Ordinary Resident and Non Resident
Particulars
Interest on German Development Bonds ₹ 51,000 (1/3rd is received in
India)
Interest from Agriculture in Bangladesh, remitted to India ₹ 31,000
Income from property in Canada received in USA ₹ 1,10,000
Income earned from business in Kuwait, business is being controlled
Mumbai (₹ 25,000 is received in India) ₹ 65,000
Dividend from an Indian Company ₹ 15,000
4. Pawan a foreign national furnishes the following particulars of his income
relevant for the previous year 2020-2021. Which of the following incomes are
taxable when the residential status of Mr. X is Resident, Not Ordinary Resident
and Non Resident
Particulars
Royalty received in Singapore from Mr. Gul , a resident in India for Technical services
provided for a business carried on in Singapore ₹ 25,000
Profit from business in Chennai, this business in controlled from Singapore
₹ 1,25,000
Profit on sale of a building in India but received in Nepal ₹ 2,50,000
Income from agriculture in Punjab, received in Mumbai ₹ 30,000
Profit from business in Indonesia, this business is controlled from Delhi ( 60% of profit
deposited in a bank there and 40% is remitted to India ) ₹40,000
Interest received from Mr. Shyam, non resident on the loan provided to him
₹ 28,000
Computation of Total income of Mr. X for the Assessment Year 2021-22
Particulars
OR
₹
NOR
₹
NR
₹
Interest on German Development Bonds ₹ 51,000 (1/3rd is received in India) 17000 17000 17000
Interest on German Development Bonds ₹ 51,000 34000 NT NT
Interest from Agriculture in Bangladesh, remitted to India ₹ 31,000 31000 NT NT
Income from property in Canada received in USA ₹ 1,10,000 110000 NT NT
Income earned from business in Kuwait, business is being controlled from Mumbai (₹
is received in India) 25000 25000 25000
Income earned from business in Kuwait, business is being controlled from Mumbai (₹
is received in India) ₹ 65,000 40000 40000 NT
Dividend from an Indian Company ₹ 15,000 NT NT NT
Royalty received in Singapore from Mr. Gul , a resident in India for Technical services
provided for a business carried on in Singapore ₹ 25,000 25000 NT NT
Computation of Total income of Mr. X for the Assessment Year 2021-22
Particulars
OR
₹
NOR
₹
NR
₹
Profit from business in Chennai, this business in controlled from Singapore
₹ 1,25,000 125000 125000 125000
Profit on sale of a building in India but received in Nepal ₹ 2,50,000 250000 250000 250000
Income from agriculture in Punjab, received in Mumbai ₹ 30,000 NT NT NT
Profit from business in Indonesia, this business is controlled from Delhi ( 60% of profit
deposited in a bank there and 40% is remitted to India ) ₹ 40,000 40000 40000 NT
Interest received from Mr. Shyam, non resident on the loan provided to him
₹ 28,000 28000 28000 28000
Total Income
725000 525000 445000
5. Pawan a foreign national furnishes the following particulars of his income relevant
for the previous year 2020-2021.
Particulars
Profit on sale of plant at London (one-half is received in India) ₹ 1,46,000
Profit on sale of plant at Delhi (one-half is received in London) ₹ 1,02,000
Salary from an Indian Company received in London (one-half is paid for rendering
services in India) ₹ 60,000
Income on U.K Development Bonds (Entire amount is received in London) ₹
Interest from property in London received there ₹ 30,000
Particulars
Profit from a business in Delhi managed form India ₹ 49,000
Income form Agriculture in London received there, half of which is used for meting hostel
expenses of Pawans son in England and remaining amount is later on remitted to India ₹
Dividend gross received in London on May 6, 2019 from a company registered in
but mainly operating in U.K ₹ 17,000
Rental Income from a Property in Nepal deposited by the tenant in a foreign branch
an Indian bank operating there ₹ 12,000
Gift from a relative in foreign currency (one-third of which is received in India and
remaining amount is used for meeting education expenses of Pawan’s son in USA)
₹3,70,000
Determine gross total income of pawan for the assessment year 2021-2022 if he is
Resident, Not Ordinary Resident and Non Resident
Computation of Total income of Mr. Pawan for the Assessment Year 2021-22
Particulars
OR
₹
NOR
₹
NR
₹
Profit on sale of plant at London (one-half is received in
India) ₹ 1,46,000
73000
73000
73000
-
73000
-
Profit on sale of plant at Delhi (one-half is received in
London) ₹ 1,02,000 102000 102000 102000
Salary from an Indian Company received in London (one-
half is paid for rendering services in India) ₹ 60,000 30000
30000
30000
-
30000
-
Income on U.K Development Bonds (Entire amount is
received in London) ₹ 40,000 40000 - -
Interest from property in London received there ₹ 30,000
30000 - -
Computation of Total income of Mr. X for the Assessment Year 2021-22
Particulars
OR
₹
NOR
₹
NR
₹
Profit from a business in Delhi managed form India ₹ 49,000 49000 49000 49000
Income form Agriculture in London received there, half of which is used
meting hostel expenses of Pawans son in England and remaining amount
later on remitted to India ₹ 25,000
25000 - -
Dividend gross received in London on May 6, 2019 from a company
registered in India but mainly operating in U.K ₹ 17,000 - - -
Rental Income from a Property in Nepal deposited by the tenant in a
foreign branch of an Indian bank operating there ₹ 12,000 12000 - -
Gift from a relative in foreign currency (one-third of which is
received in India and remaining amount is used for meeting
education expenses of Pawan’s son in USA) ₹3,70,000
- - -
Total Income 464000 254000 254000
6. Jairam a foreign national furnishes the following particulars of his income relevant
for the previous year 2020-2021.
Particulars
Income from property in New York received there ₹ 1,20,000
Income from business in Kolkata managed from Singapore ₹ 2,40,000
Profit on sale of machinery in California (one-half received in Kolkata) ₹ 90,000
Dividend (Gross) received in Thailand from a company registered in India but
operating in Thailand ₹ 15,000
Income from a house property in Dhaka deposited by the tenant there in a
branch of SBI ₹ 36,000
Particulars
Gift in foreign currency ₹3,50,000 from a relative (one-half received in India and the
balance used in New York).
Income from agriculture in Burma ₹ 45,000 received there. 1/3rd used while using visiting there
and 2/3rd remitted latter to Kolkata.
Income from profession (as a management consultant) in Philippines received there.
The profession set up in India ₹ 2,20,000
Compute his total income, if Jairam is
a) A Resident,
b) Not Ordinary Resident
c) Non Resident
Computation of Total income of Mr. Jairam for the Assessment Year 2021-22
Particulars
OR
₹
NOR
₹
NR
₹
Income from property in New York received there ₹
1,20,000 120000 - -
Income from business in Kolkata managed from Singapore
₹ 2,40,000 240000 240000 240000
Profit on sale of machinery in California (one-half received
in Kolkata) ₹ 90,000
45000
45000
45000
-
45000
-
Dividend (Gross) received in Thailand from a company
registered in India but mainly operating in Thailand ₹
15,000
- - -
Income from a house property in Dhaka deposited by the
tenant there in a foreign branch of SBI ₹ 36,000 36000 - -
Computation of Total income of Mr. Jairam for the Assessment Year 2021-22
Particulars
OR
₹
NOR
₹
NR
₹
Gift in foreign currency ₹3,50,000 from a relative (one-
received in India and the balance used in New York).
- - -
Income from agriculture in Burma ₹ 45,000 received there. 1/3rd
used while using visiting there and 2/3rd remitted latter to
Kolkata.
45000 - -
Income from profession (as a management consultant) in
Philippines received there. The profession set up in India
2,20,000
220000 220000 -
Total Income 751000 505000 285000
23

More Related Content

What's hot

Goodwill valuation in accounting for partnership
Goodwill valuation in accounting for partnershipGoodwill valuation in accounting for partnership
Goodwill valuation in accounting for partnership
Pankaj Saikia
 
Scope of total income and residential status
Scope of total income and residential statusScope of total income and residential status
Scope of total income and residential status
DVSResearchFoundatio
 
Income tax basic concepts
Income tax basic conceptsIncome tax basic concepts
Income tax basic concepts
Dr.Sangeetha R
 
Types of Assessees and Residential Status
Types of Assessees and Residential StatusTypes of Assessees and Residential Status
Types of Assessees and Residential Status
RajaKrishnan M
 
Residential status
Residential statusResidential status
Residential status
DR ANNIE STEPHEN
 
Branch accounting
Branch accounting Branch accounting
Branch accounting
Ravi kumar
 
Income tax-ppt
Income tax-pptIncome tax-ppt
Income tax-ppt
lkiju
 
Deduction from gross total income
Deduction from gross total incomeDeduction from gross total income
Deduction from gross total incomeanuja2
 
House Rent Allowance
House Rent AllowanceHouse Rent Allowance
House Rent Allowance
Tax 2win
 
Goodwill & its valuation
Goodwill & its valuationGoodwill & its valuation
Goodwill & its valuation
rahul aggarwal
 
SIP on Goods and Service Tax
SIP on Goods and Service TaxSIP on Goods and Service Tax
SIP on Goods and Service Tax
Lucky
 
Valuation of goodwill & shares with solution of problems
Valuation of goodwill & shares with solution of problemsValuation of goodwill & shares with solution of problems
Valuation of goodwill & shares with solution of problems
afukhan
 
Foreign exchange management act (FEMA), 1999
Foreign exchange management act (FEMA), 1999Foreign exchange management act (FEMA), 1999
Foreign exchange management act (FEMA), 1999
The Young Indian Economists
 
Accounting for Non Profit Organization Class 12- Part 1
Accounting for Non Profit Organization Class 12- Part 1Accounting for Non Profit Organization Class 12- Part 1
Accounting for Non Profit Organization Class 12- Part 1
Aarti Kudhail
 
GTC - India Income Tax
GTC - India Income TaxGTC - India Income Tax
GTC - India Income Tax
GTClub
 
Residential status
Residential statusResidential status
Residential statusPuneet Arora
 
Branch accounting
Branch accountingBranch accounting
Branch accounting
CMA Khursheed Ahmad Bhat
 
Capital gains ppt
Capital gains pptCapital gains ppt
Capital gains ppt
Paritosh chaudhary
 
UNIT-1-B-Residental-Status ganesh.pdf
UNIT-1-B-Residental-Status ganesh.pdfUNIT-1-B-Residental-Status ganesh.pdf
UNIT-1-B-Residental-Status ganesh.pdf
SRM Institute of Science and Technology
 

What's hot (20)

Goodwill valuation in accounting for partnership
Goodwill valuation in accounting for partnershipGoodwill valuation in accounting for partnership
Goodwill valuation in accounting for partnership
 
Scope of total income and residential status
Scope of total income and residential statusScope of total income and residential status
Scope of total income and residential status
 
Income tax basic concepts
Income tax basic conceptsIncome tax basic concepts
Income tax basic concepts
 
Types of Assessees and Residential Status
Types of Assessees and Residential StatusTypes of Assessees and Residential Status
Types of Assessees and Residential Status
 
Residential status
Residential statusResidential status
Residential status
 
Branch accounting
Branch accounting Branch accounting
Branch accounting
 
Income tax-ppt
Income tax-pptIncome tax-ppt
Income tax-ppt
 
Deduction from gross total income
Deduction from gross total incomeDeduction from gross total income
Deduction from gross total income
 
House Rent Allowance
House Rent AllowanceHouse Rent Allowance
House Rent Allowance
 
Goodwill & its valuation
Goodwill & its valuationGoodwill & its valuation
Goodwill & its valuation
 
SIP on Goods and Service Tax
SIP on Goods and Service TaxSIP on Goods and Service Tax
SIP on Goods and Service Tax
 
Valuation of goodwill & shares with solution of problems
Valuation of goodwill & shares with solution of problemsValuation of goodwill & shares with solution of problems
Valuation of goodwill & shares with solution of problems
 
Foreign exchange management act (FEMA), 1999
Foreign exchange management act (FEMA), 1999Foreign exchange management act (FEMA), 1999
Foreign exchange management act (FEMA), 1999
 
Accounting for Non Profit Organization Class 12- Part 1
Accounting for Non Profit Organization Class 12- Part 1Accounting for Non Profit Organization Class 12- Part 1
Accounting for Non Profit Organization Class 12- Part 1
 
GTC - India Income Tax
GTC - India Income TaxGTC - India Income Tax
GTC - India Income Tax
 
Residential status
Residential statusResidential status
Residential status
 
Branch accounting
Branch accountingBranch accounting
Branch accounting
 
Capital gains ppt
Capital gains pptCapital gains ppt
Capital gains ppt
 
UNIT-1-B-Residental-Status ganesh.pdf
UNIT-1-B-Residental-Status ganesh.pdfUNIT-1-B-Residental-Status ganesh.pdf
UNIT-1-B-Residental-Status ganesh.pdf
 
income tax
income taxincome tax
income tax
 

Similar to Scope of TI problems

RESIDENTIAL STATUS AND INCIDENCE OF TAX:
RESIDENTIAL STATUS AND INCIDENCE OF TAX:RESIDENTIAL STATUS AND INCIDENCE OF TAX:
RESIDENTIAL STATUS AND INCIDENCE OF TAX:
VNRacademy
 
RESIDENTIAL STATUS OF AOP, FIRM
RESIDENTIAL STATUS OF AOP, FIRM RESIDENTIAL STATUS OF AOP, FIRM
RESIDENTIAL STATUS OF AOP, FIRM
Dr.Sangeetha R
 
21913rtp may11 pcc_5
21913rtp may11 pcc_521913rtp may11 pcc_5
21913rtp may11 pcc_5Syed Faheem
 
Scope of Total Income
Scope of Total IncomeScope of Total Income
Scope of Total Income
Ganesha Moorthy K
 
21904rtp may2011 ipcc_4
21904rtp may2011 ipcc_421904rtp may2011 ipcc_4
21904rtp may2011 ipcc_4Syed Faheem
 
Scope of total income
Scope of total incomeScope of total income
Scope of total income
Dr. Ashish Tripathi
 
Taxation Assignment.pdf
Taxation Assignment.pdfTaxation Assignment.pdf
Taxation Assignment.pdf
Sunil385951
 
Chapter 2 residential status
Chapter 2   residential statusChapter 2   residential status
Chapter 2 residential status
Yogita Sharma
 
Mf0012 taxation management
Mf0012   taxation managementMf0012   taxation management
Mf0012 taxation management
smumbahelp
 
Mf0012 taxation management
Mf0012   taxation managementMf0012   taxation management
Mf0012 taxation management
smumbahelp
 
3.0 incidence of tax statements
3.0 incidence of tax   statements3.0 incidence of tax   statements
3.0 incidence of tax statementsRaghavendra Rd
 
Residential Status PPT.pdf
Residential Status PPT.pdfResidential Status PPT.pdf
Residential Status PPT.pdf
PRIYASAXENA74
 
Section 6 income tax act
Section 6 income tax actSection 6 income tax act
Section 6 income tax act
PriyaSaxena49
 
Classification of taxes ppt doms
Classification of taxes ppt domsClassification of taxes ppt doms
Classification of taxes ppt doms
Babasab Patil
 
Mf0012 taxation management
Mf0012 taxation managementMf0012 taxation management
Mf0012 taxation management
consult4solutions
 

Similar to Scope of TI problems (20)

RESIDENTIAL STATUS AND INCIDENCE OF TAX:
RESIDENTIAL STATUS AND INCIDENCE OF TAX:RESIDENTIAL STATUS AND INCIDENCE OF TAX:
RESIDENTIAL STATUS AND INCIDENCE OF TAX:
 
RESIDENTIAL STATUS OF AOP, FIRM
RESIDENTIAL STATUS OF AOP, FIRM RESIDENTIAL STATUS OF AOP, FIRM
RESIDENTIAL STATUS OF AOP, FIRM
 
Tax incidence 1
Tax incidence 1Tax incidence 1
Tax incidence 1
 
Tax incidence
Tax incidenceTax incidence
Tax incidence
 
21913rtp may11 pcc_5
21913rtp may11 pcc_521913rtp may11 pcc_5
21913rtp may11 pcc_5
 
Scope of Total Income
Scope of Total IncomeScope of Total Income
Scope of Total Income
 
21904rtp may2011 ipcc_4
21904rtp may2011 ipcc_421904rtp may2011 ipcc_4
21904rtp may2011 ipcc_4
 
Scope of total income
Scope of total incomeScope of total income
Scope of total income
 
Residential status
Residential statusResidential status
Residential status
 
Taxation Assignment.pdf
Taxation Assignment.pdfTaxation Assignment.pdf
Taxation Assignment.pdf
 
Chapter 2 residential status
Chapter 2   residential statusChapter 2   residential status
Chapter 2 residential status
 
Mf0012 taxation management
Mf0012   taxation managementMf0012   taxation management
Mf0012 taxation management
 
Mf0012 taxation management
Mf0012   taxation managementMf0012   taxation management
Mf0012 taxation management
 
3.0 incidence of tax statements
3.0 incidence of tax   statements3.0 incidence of tax   statements
3.0 incidence of tax statements
 
Residential Status PPT.pdf
Residential Status PPT.pdfResidential Status PPT.pdf
Residential Status PPT.pdf
 
Section 6 income tax act
Section 6 income tax actSection 6 income tax act
Section 6 income tax act
 
Lesson 13
Lesson 13Lesson 13
Lesson 13
 
Classification of taxes ppt doms
Classification of taxes ppt domsClassification of taxes ppt doms
Classification of taxes ppt doms
 
Perquisites
PerquisitesPerquisites
Perquisites
 
Mf0012 taxation management
Mf0012 taxation managementMf0012 taxation management
Mf0012 taxation management
 

More from premarhea

Alignment.pdf
Alignment.pdfAlignment.pdf
Alignment.pdf
premarhea
 
MS Office 2013.pdf
MS Office 2013.pdfMS Office 2013.pdf
MS Office 2013.pdf
premarhea
 
Business Application Software.pdf
Business Application Software.pdfBusiness Application Software.pdf
Business Application Software.pdf
premarhea
 
Business income
Business incomeBusiness income
Business income
premarhea
 
Forms of organisation non-corporate enterprises
Forms of organisation   non-corporate enterprisesForms of organisation   non-corporate enterprises
Forms of organisation non-corporate enterprises
premarhea
 
Professional income
Professional incomeProfessional income
Professional income
premarhea
 
Professional income
Professional incomeProfessional income
Professional income
premarhea
 
Business income
Business incomeBusiness income
Business income
premarhea
 
Forms of organisation - non-corporate enterprises
Forms of organisation - non-corporate enterprisesForms of organisation - non-corporate enterprises
Forms of organisation - non-corporate enterprises
premarhea
 
Nature of business
Nature of businessNature of business
Nature of business
premarhea
 
Residential status problems
Residential status   problemsResidential status   problems
Residential status problems
premarhea
 
Residential status
Residential statusResidential status
Residential status
premarhea
 
Residential status
Residential statusResidential status
Residential status
premarhea
 
Residential status
Residential statusResidential status
Residential status
premarhea
 
Introduction to tax
Introduction to taxIntroduction to tax
Introduction to tax
premarhea
 
Unit v
Unit vUnit v
Unit v
premarhea
 
Capital Structure
Capital StructureCapital Structure
Capital Structure
premarhea
 
Capital budgeting
Capital budgetingCapital budgeting
Capital budgeting
premarhea
 
Indirect tax unit 4
Indirect tax   unit 4Indirect tax   unit 4
Indirect tax unit 4
premarhea
 
Cyber law - Security aspects and Intellectual Property rights
Cyber law - Security aspects and Intellectual Property rights Cyber law - Security aspects and Intellectual Property rights
Cyber law - Security aspects and Intellectual Property rights
premarhea
 

More from premarhea (20)

Alignment.pdf
Alignment.pdfAlignment.pdf
Alignment.pdf
 
MS Office 2013.pdf
MS Office 2013.pdfMS Office 2013.pdf
MS Office 2013.pdf
 
Business Application Software.pdf
Business Application Software.pdfBusiness Application Software.pdf
Business Application Software.pdf
 
Business income
Business incomeBusiness income
Business income
 
Forms of organisation non-corporate enterprises
Forms of organisation   non-corporate enterprisesForms of organisation   non-corporate enterprises
Forms of organisation non-corporate enterprises
 
Professional income
Professional incomeProfessional income
Professional income
 
Professional income
Professional incomeProfessional income
Professional income
 
Business income
Business incomeBusiness income
Business income
 
Forms of organisation - non-corporate enterprises
Forms of organisation - non-corporate enterprisesForms of organisation - non-corporate enterprises
Forms of organisation - non-corporate enterprises
 
Nature of business
Nature of businessNature of business
Nature of business
 
Residential status problems
Residential status   problemsResidential status   problems
Residential status problems
 
Residential status
Residential statusResidential status
Residential status
 
Residential status
Residential statusResidential status
Residential status
 
Residential status
Residential statusResidential status
Residential status
 
Introduction to tax
Introduction to taxIntroduction to tax
Introduction to tax
 
Unit v
Unit vUnit v
Unit v
 
Capital Structure
Capital StructureCapital Structure
Capital Structure
 
Capital budgeting
Capital budgetingCapital budgeting
Capital budgeting
 
Indirect tax unit 4
Indirect tax   unit 4Indirect tax   unit 4
Indirect tax unit 4
 
Cyber law - Security aspects and Intellectual Property rights
Cyber law - Security aspects and Intellectual Property rights Cyber law - Security aspects and Intellectual Property rights
Cyber law - Security aspects and Intellectual Property rights
 

Recently uploaded

Home assignment II on Spectroscopy 2024 Answers.pdf
Home assignment II on Spectroscopy 2024 Answers.pdfHome assignment II on Spectroscopy 2024 Answers.pdf
Home assignment II on Spectroscopy 2024 Answers.pdf
Tamralipta Mahavidyalaya
 
Additional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdfAdditional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdf
joachimlavalley1
 
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup   New Member Orientation and Q&A (May 2024).pdfWelcome to TechSoup   New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
TechSoup
 
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
siemaillard
 
Thesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.pptThesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.ppt
EverAndrsGuerraGuerr
 
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXXPhrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
MIRIAMSALINAS13
 
ESC Beyond Borders _From EU to You_ InfoPack general.pdf
ESC Beyond Borders _From EU to You_ InfoPack general.pdfESC Beyond Borders _From EU to You_ InfoPack general.pdf
ESC Beyond Borders _From EU to You_ InfoPack general.pdf
Fundacja Rozwoju Społeczeństwa Przedsiębiorczego
 
Language Across the Curriculm LAC B.Ed.
Language Across the  Curriculm LAC B.Ed.Language Across the  Curriculm LAC B.Ed.
Language Across the Curriculm LAC B.Ed.
Atul Kumar Singh
 
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
MysoreMuleSoftMeetup
 
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
EugeneSaldivar
 
Overview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with MechanismOverview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with Mechanism
DeeptiGupta154
 
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptx
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxStudents, digital devices and success - Andreas Schleicher - 27 May 2024..pptx
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptx
EduSkills OECD
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Thiyagu K
 
Polish students' mobility in the Czech Republic
Polish students' mobility in the Czech RepublicPolish students' mobility in the Czech Republic
Polish students' mobility in the Czech Republic
Anna Sz.
 
Unit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdfUnit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdf
Thiyagu K
 
Cambridge International AS A Level Biology Coursebook - EBook (MaryFosbery J...
Cambridge International AS  A Level Biology Coursebook - EBook (MaryFosbery J...Cambridge International AS  A Level Biology Coursebook - EBook (MaryFosbery J...
Cambridge International AS A Level Biology Coursebook - EBook (MaryFosbery J...
AzmatAli747758
 
Introduction to Quality Improvement Essentials
Introduction to Quality Improvement EssentialsIntroduction to Quality Improvement Essentials
Introduction to Quality Improvement Essentials
Excellence Foundation for South Sudan
 
The geography of Taylor Swift - some ideas
The geography of Taylor Swift - some ideasThe geography of Taylor Swift - some ideas
The geography of Taylor Swift - some ideas
GeoBlogs
 
GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...
GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...
GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...
Nguyen Thanh Tu Collection
 
Chapter 3 - Islamic Banking Products and Services.pptx
Chapter 3 - Islamic Banking Products and Services.pptxChapter 3 - Islamic Banking Products and Services.pptx
Chapter 3 - Islamic Banking Products and Services.pptx
Mohd Adib Abd Muin, Senior Lecturer at Universiti Utara Malaysia
 

Recently uploaded (20)

Home assignment II on Spectroscopy 2024 Answers.pdf
Home assignment II on Spectroscopy 2024 Answers.pdfHome assignment II on Spectroscopy 2024 Answers.pdf
Home assignment II on Spectroscopy 2024 Answers.pdf
 
Additional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdfAdditional Benefits for Employee Website.pdf
Additional Benefits for Employee Website.pdf
 
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup   New Member Orientation and Q&A (May 2024).pdfWelcome to TechSoup   New Member Orientation and Q&A (May 2024).pdf
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdf
 
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
aaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
 
Thesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.pptThesis Statement for students diagnonsed withADHD.ppt
Thesis Statement for students diagnonsed withADHD.ppt
 
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXXPhrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
Phrasal Verbs.XXXXXXXXXXXXXXXXXXXXXXXXXX
 
ESC Beyond Borders _From EU to You_ InfoPack general.pdf
ESC Beyond Borders _From EU to You_ InfoPack general.pdfESC Beyond Borders _From EU to You_ InfoPack general.pdf
ESC Beyond Borders _From EU to You_ InfoPack general.pdf
 
Language Across the Curriculm LAC B.Ed.
Language Across the  Curriculm LAC B.Ed.Language Across the  Curriculm LAC B.Ed.
Language Across the Curriculm LAC B.Ed.
 
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
Mule 4.6 & Java 17 Upgrade | MuleSoft Mysore Meetup #46
 
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...TESDA TM1 REVIEWER  FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
TESDA TM1 REVIEWER FOR NATIONAL ASSESSMENT WRITTEN AND ORAL QUESTIONS WITH A...
 
Overview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with MechanismOverview on Edible Vaccine: Pros & Cons with Mechanism
Overview on Edible Vaccine: Pros & Cons with Mechanism
 
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptx
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptxStudents, digital devices and success - Andreas Schleicher - 27 May 2024..pptx
Students, digital devices and success - Andreas Schleicher - 27 May 2024..pptx
 
Unit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdfUnit 2- Research Aptitude (UGC NET Paper I).pdf
Unit 2- Research Aptitude (UGC NET Paper I).pdf
 
Polish students' mobility in the Czech Republic
Polish students' mobility in the Czech RepublicPolish students' mobility in the Czech Republic
Polish students' mobility in the Czech Republic
 
Unit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdfUnit 8 - Information and Communication Technology (Paper I).pdf
Unit 8 - Information and Communication Technology (Paper I).pdf
 
Cambridge International AS A Level Biology Coursebook - EBook (MaryFosbery J...
Cambridge International AS  A Level Biology Coursebook - EBook (MaryFosbery J...Cambridge International AS  A Level Biology Coursebook - EBook (MaryFosbery J...
Cambridge International AS A Level Biology Coursebook - EBook (MaryFosbery J...
 
Introduction to Quality Improvement Essentials
Introduction to Quality Improvement EssentialsIntroduction to Quality Improvement Essentials
Introduction to Quality Improvement Essentials
 
The geography of Taylor Swift - some ideas
The geography of Taylor Swift - some ideasThe geography of Taylor Swift - some ideas
The geography of Taylor Swift - some ideas
 
GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...
GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...
GIÁO ÁN DẠY THÊM (KẾ HOẠCH BÀI BUỔI 2) - TIẾNG ANH 8 GLOBAL SUCCESS (2 CỘT) N...
 
Chapter 3 - Islamic Banking Products and Services.pptx
Chapter 3 - Islamic Banking Products and Services.pptxChapter 3 - Islamic Banking Products and Services.pptx
Chapter 3 - Islamic Banking Products and Services.pptx
 

Scope of TI problems

  • 1. SCOPE OF TOTAL INCOME Dr. R. PREMA Assistant Professor in Commerce
  • 2. 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. 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. Computation of Total income of Mr. X for the Assessment Year 2021-22 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 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. 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. Particulars Income earned and received in Pakistan from bank deposit ₹ 5000. Income accrued in India and received in Iran ₹ 10000
  • 7. Computation of Total income of Mr. Mr. Devilal for the Assessment Year 2021-22 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 is rendered in Iran. 9000 9000 9000 Income from business (Controlled from India) in Pakistan ₹ 10000 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. 3. Which of the following incomes are taxable when the residential status of Shri Deepak is Resident, Not Ordinary Resident and Non Resident Particulars Dividend from Indian Company ₹ 10,000 Profit from business in Japan received in India ₹ 120,000 Profit from business in Pakistan deposited in a bank there. This business is controlled from India ₹ 2,00,000 Profit from business in Indore(Controlled by London Head office) ₹ Interest received form non-resident Mr Rahim, on the loan provided to for a business carried on in India ₹ 50,000
  • 9. Particulars Income was earned in America and received there, but brought in India ₹80,000 Share of Income from Indian Partnership firm ₹1,50,000 Income from house property in India received in America ₹62,000 Interest on debentures of an Indian Company received in Dubai ₹ 25,000 Capital Gain on sale of agricultural land situated at Ajmer ₹ 48,000
  • 10. Computation of Total income of Mr. X for the Assessment Year 2021-22 Particulars OR ₹ NOR ₹ NR ₹ Dividend from Indian Company ₹ 10,000 NT NT NT Profit from business in Japan received in India ₹ 120,000 120000 120000 120000 Profit from business in Pakistan deposited in a bank there. This business is controlled from India ₹ 2,00,000 200000 200000 NT Profit from business in Indore(Controlled by London Head office) ₹ 1,10,000 110000 110000 110000 Interest received from non-resident Mr Rahim, on the loan provided to him for a business carried on in India ₹ 50,000 50000 50000 50000 Income was earned in America and received there, but brought in India ₹80,000 80000 NT NT Share of Income from Indian Partnership firm ₹1,50,000 NT NT NT Income from house property in India received in America (computed) ₹62,000 62000 62000 62000 Interest on debentures of an Indian Company received in Dubai ₹ 25,000 25000 25000 25000 Capital Gain on sale of agricultural land situated at Ajmer ₹ 48,000 48000 48000 48000 Total Income 695000 615000 415000
  • 11. 4. Which of the following incomes are taxable when the residential status of Mr. X is Resident, Not Ordinary Resident and Non Resident Particulars Interest on German Development Bonds ₹ 51,000 (1/3rd is received in India) Interest from Agriculture in Bangladesh, remitted to India ₹ 31,000 Income from property in Canada received in USA ₹ 1,10,000 Income earned from business in Kuwait, business is being controlled Mumbai (₹ 25,000 is received in India) ₹ 65,000 Dividend from an Indian Company ₹ 15,000 4. Pawan a foreign national furnishes the following particulars of his income relevant for the previous year 2020-2021. Which of the following incomes are taxable when the residential status of Mr. X is Resident, Not Ordinary Resident and Non Resident
  • 12. Particulars Royalty received in Singapore from Mr. Gul , a resident in India for Technical services provided for a business carried on in Singapore ₹ 25,000 Profit from business in Chennai, this business in controlled from Singapore ₹ 1,25,000 Profit on sale of a building in India but received in Nepal ₹ 2,50,000 Income from agriculture in Punjab, received in Mumbai ₹ 30,000 Profit from business in Indonesia, this business is controlled from Delhi ( 60% of profit deposited in a bank there and 40% is remitted to India ) ₹40,000 Interest received from Mr. Shyam, non resident on the loan provided to him ₹ 28,000
  • 13. Computation of Total income of Mr. X for the Assessment Year 2021-22 Particulars OR ₹ NOR ₹ NR ₹ Interest on German Development Bonds ₹ 51,000 (1/3rd is received in India) 17000 17000 17000 Interest on German Development Bonds ₹ 51,000 34000 NT NT Interest from Agriculture in Bangladesh, remitted to India ₹ 31,000 31000 NT NT Income from property in Canada received in USA ₹ 1,10,000 110000 NT NT Income earned from business in Kuwait, business is being controlled from Mumbai (₹ is received in India) 25000 25000 25000 Income earned from business in Kuwait, business is being controlled from Mumbai (₹ is received in India) ₹ 65,000 40000 40000 NT Dividend from an Indian Company ₹ 15,000 NT NT NT Royalty received in Singapore from Mr. Gul , a resident in India for Technical services provided for a business carried on in Singapore ₹ 25,000 25000 NT NT
  • 14. Computation of Total income of Mr. X for the Assessment Year 2021-22 Particulars OR ₹ NOR ₹ NR ₹ Profit from business in Chennai, this business in controlled from Singapore ₹ 1,25,000 125000 125000 125000 Profit on sale of a building in India but received in Nepal ₹ 2,50,000 250000 250000 250000 Income from agriculture in Punjab, received in Mumbai ₹ 30,000 NT NT NT Profit from business in Indonesia, this business is controlled from Delhi ( 60% of profit deposited in a bank there and 40% is remitted to India ) ₹ 40,000 40000 40000 NT Interest received from Mr. Shyam, non resident on the loan provided to him ₹ 28,000 28000 28000 28000 Total Income 725000 525000 445000
  • 15. 5. Pawan a foreign national furnishes the following particulars of his income relevant for the previous year 2020-2021. Particulars Profit on sale of plant at London (one-half is received in India) ₹ 1,46,000 Profit on sale of plant at Delhi (one-half is received in London) ₹ 1,02,000 Salary from an Indian Company received in London (one-half is paid for rendering services in India) ₹ 60,000 Income on U.K Development Bonds (Entire amount is received in London) ₹ Interest from property in London received there ₹ 30,000
  • 16. Particulars Profit from a business in Delhi managed form India ₹ 49,000 Income form Agriculture in London received there, half of which is used for meting hostel expenses of Pawans son in England and remaining amount is later on remitted to India ₹ Dividend gross received in London on May 6, 2019 from a company registered in but mainly operating in U.K ₹ 17,000 Rental Income from a Property in Nepal deposited by the tenant in a foreign branch an Indian bank operating there ₹ 12,000 Gift from a relative in foreign currency (one-third of which is received in India and remaining amount is used for meeting education expenses of Pawan’s son in USA) ₹3,70,000 Determine gross total income of pawan for the assessment year 2021-2022 if he is Resident, Not Ordinary Resident and Non Resident
  • 17. Computation of Total income of Mr. Pawan for the Assessment Year 2021-22 Particulars OR ₹ NOR ₹ NR ₹ Profit on sale of plant at London (one-half is received in India) ₹ 1,46,000 73000 73000 73000 - 73000 - Profit on sale of plant at Delhi (one-half is received in London) ₹ 1,02,000 102000 102000 102000 Salary from an Indian Company received in London (one- half is paid for rendering services in India) ₹ 60,000 30000 30000 30000 - 30000 - Income on U.K Development Bonds (Entire amount is received in London) ₹ 40,000 40000 - - Interest from property in London received there ₹ 30,000 30000 - -
  • 18. Computation of Total income of Mr. X for the Assessment Year 2021-22 Particulars OR ₹ NOR ₹ NR ₹ Profit from a business in Delhi managed form India ₹ 49,000 49000 49000 49000 Income form Agriculture in London received there, half of which is used meting hostel expenses of Pawans son in England and remaining amount later on remitted to India ₹ 25,000 25000 - - Dividend gross received in London on May 6, 2019 from a company registered in India but mainly operating in U.K ₹ 17,000 - - - Rental Income from a Property in Nepal deposited by the tenant in a foreign branch of an Indian bank operating there ₹ 12,000 12000 - - Gift from a relative in foreign currency (one-third of which is received in India and remaining amount is used for meeting education expenses of Pawan’s son in USA) ₹3,70,000 - - - Total Income 464000 254000 254000
  • 19. 6. Jairam a foreign national furnishes the following particulars of his income relevant for the previous year 2020-2021. Particulars Income from property in New York received there ₹ 1,20,000 Income from business in Kolkata managed from Singapore ₹ 2,40,000 Profit on sale of machinery in California (one-half received in Kolkata) ₹ 90,000 Dividend (Gross) received in Thailand from a company registered in India but operating in Thailand ₹ 15,000 Income from a house property in Dhaka deposited by the tenant there in a branch of SBI ₹ 36,000
  • 20. Particulars Gift in foreign currency ₹3,50,000 from a relative (one-half received in India and the balance used in New York). Income from agriculture in Burma ₹ 45,000 received there. 1/3rd used while using visiting there and 2/3rd remitted latter to Kolkata. Income from profession (as a management consultant) in Philippines received there. The profession set up in India ₹ 2,20,000 Compute his total income, if Jairam is a) A Resident, b) Not Ordinary Resident c) Non Resident
  • 21. Computation of Total income of Mr. Jairam for the Assessment Year 2021-22 Particulars OR ₹ NOR ₹ NR ₹ Income from property in New York received there ₹ 1,20,000 120000 - - Income from business in Kolkata managed from Singapore ₹ 2,40,000 240000 240000 240000 Profit on sale of machinery in California (one-half received in Kolkata) ₹ 90,000 45000 45000 45000 - 45000 - Dividend (Gross) received in Thailand from a company registered in India but mainly operating in Thailand ₹ 15,000 - - - Income from a house property in Dhaka deposited by the tenant there in a foreign branch of SBI ₹ 36,000 36000 - -
  • 22. Computation of Total income of Mr. Jairam for the Assessment Year 2021-22 Particulars OR ₹ NOR ₹ NR ₹ Gift in foreign currency ₹3,50,000 from a relative (one- received in India and the balance used in New York). - - - Income from agriculture in Burma ₹ 45,000 received there. 1/3rd used while using visiting there and 2/3rd remitted latter to Kolkata. 45000 - - Income from profession (as a management consultant) in Philippines received there. The profession set up in India 2,20,000 220000 220000 - Total Income 751000 505000 285000
  • 23. 23