Question

mr. dsouza who is 67 years old has a taxable income rs. 4,20,000. Compute his income tax​

Answer 1

Answer:

ACIT v. Mehul J. Somaiya

ITAT ‘B’ Bench, Mumbai

Before N.V. Vasudevan (JM) & D.K. Rao (AM)

ITA No. 7118/Mum./2006

AY 2002-03; Decided on 10/12/2008

Counsel for revenue/assessee: G. Gurusamy / C.N. Vaze

S. 145 of the Income-tax Act, 1961 — Method of accounting — Assessee having more than one source of income under the head ‘Business income’ — Whether the assessee has the option to follow different method of accounting in respect of each of the different sources of income under the head — Held, Yes.