Amarnath, is 61 years old man, has earned business income (computed) of Rs 2,50,000, Dividend income of Rs 1,20,000 during the P.Y. 2021-22. He also has interest on Fixed Deposit of Rs 60,000 with banks. He invested an amount of Rs 1,90,000 in Public Provident Fund account. What is the total income of Mr. A for the A.Y. 2022-23, assuming that he does not opt for section 115BAC?

Amarnath, is 61 years old man, has earned business income (computed) of Rs 2,50,000, Dividend income of Rs 1,20,000 during the P.Y. 2021-22. He also has interest on Fixed Deposit of Rs 60,000 with banks. He invested an amount of Rs 1,90,000 in Public Provident Fund account. What is the total income of Mr. A for the A.Y. 2022-23, assuming that he does not opt for section 115BAC?

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter11: Stockholders' Equity

Section: Chapter Questions

Problem 11.10P

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