Question

(i)Mr Kannan owns horses at Bangalore and Delhi. The horses run in races at the

Respective race courses. During the year 2019-20 Mr.Kannan submits the

following information.





1.Expenses on race horses at Bangalore 400000

2.Expenses on race horses at Delhi 600000

3.Stake money earned by horses at:

Bangalore 500000

Delhi 300000

4.Mr. Kannan received 126000 on betting during horse races at Bangalore.

5.Kannan also received 49000 as lottery winning and his winning from card

games were 20000 during the year.

Compute the income from other sources of Kannan for the AY2020-21.

(ii)From the following details, ascertain the taxable interest income of

Miss. Gayathiri for the previous year 2019-20.

Investment in tax free 10%Debenture in “X” Ltd. (Unlisted) 140000

Interest received on Debentures in “Y” Ltd (Listed) 45000​

Answer 1

Answer:

ananananananananananan