form the following particular of mr. gopi.calculate his tax liability. Salary 1, 2000 Business income Rent from house property 30,000 Dividend income 15,200 Bank intrest. - 8,800 90,000 Income of a minor son 50.000 30,000 10,000 Long term capital gain Donation to national de Rend (NDF)
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Tax liability - Nil
Given the salary and other income sources of Mr. Gopi, we need to calculate the Tax liability on the total income earned by him from all sources. To calculate his tax liability first, we need to find his total income:-
Total income of Mr. Gopi = salary + business income + Rent from house property + Income from dividend + bank interest + Income from minor son + Capital gain - donation to NDF
= 12,000 + 90,000 + 30,000 + 15,200 + 8,800 + 50,000 + 30,000 - 10,000
= ₹2,26,000
Since Mr. Gopi's total annual income is less than ₹2,50,000, he doesn't need to pay any tax. Thus, his tax liability will be Nil.
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