Madhya Pradesh - 5000 Dividend from PJV Ltd an Indian Company- 4745
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter5: Income Statement: Reporting The Results Of Operating Activities
Section: Chapter Questions
Problem 21E
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Question
From the following information, furnished by Ms. Anucampa pertaining to the financial year ended as on 31st march 2022,
- Short term
capital gains on sale of shares in an Indian company received in Japan - 10000 - Dividend from a Chinese company received in China - 3000
- Agricultural income from land in Madhya Pradesh - 5000
- Dividend from PJV Ltd an Indian Company- 4745
- Gross Rent from a residential property located at Singapore, later on remitted to the saving account in Bank of Maharashtra, Mumbai using the approved channels - 600000
Compute the total income and give reason for considering/ not considering these specific
items for the relevant assessment year 2022-23, if she is
a. Resident and ordinary resident
b. Non resident
1) please first tell the formula and understanding of the question
2) second what are the steps to be followed to get the answer
3) please write the answer in 3 option and what can we clarify from this
option 1,2 and 3 is to be followed in A and B both
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