Incidence and Residence Problems
Incidence and Residence Problems
Incidence and Residence Problems
Compute Mr. Ram Lal's taxable income if he is (i) a resident, (ii) a not ordinarily resident, or (iii) a non-reside
inarily resident, or (iii) a non-resident.
The following are the incomes of Shree Deepak for the previous year 2019-20.:
Particulars Amount in Rs.
(i) Dividend from Indian Company ₹10,000.00
(ii) Profit
(iii) Profitfrom
frombusiness
businessininJapan received
Pakistan in India
deposited in a 1,20,000
bank
(iv) there.from
Profit
(v) Interest Thisbusiness
business
received frominis controlled
a Indore from
Mr.India
(Controlled
non-resident by
Abdul, 2,00,000
London
on Head
the loan Office)to him for a business carried on
provided 1,10,000
in India
(vi) Income was earned in America and received ₹50,000.00
there, but brought in India ₹80,000.00
(vii) Share of income from Indian partnership firm
viii) Income from house property in India received in 1,50,000
America (Computed)
(ix) Interest on debentures of an Indian company ₹62,000.00
received
(x) Capitalin Gain
Dubaion sale of agricultural land situated ₹25,000.00
at Ajmer ₹48,000.00