Question

Mr.Gopi (59 yrs), who has furnished the following information, compute tax liability if he

(i) Non-Resident (ii) Resident:- 8

TQ 2. Mr. Shyam, a property dealer, sells a commercial plot of land on 1.03.2021 for 3

Rs.100Lakhs which was acquired by him on 1.08.2018 for Rs.25,00,000 for selling of offices

constructed therein. He had incurred land development charge of Rs.10,00,000 on

1.10.2018.He incurred Rs.50,000 for selling the plot of land. Compute CG for AY 21-22.

TQ 3 Mr.Parth is a citizen of Uganda. He has come to India for the first time on 01.07.2016. 8

Determine his residential status for various years if the particulars of his arrival and departure

are as given below:-

Date of Arrival Date of Departure

01.07.2016 07.09.2016

01.01.2017 08.03.2017

11.07.2017 20.09.2017

10.02.2018 09.05.2018

01.01.2019 20.05.2019

11.03.2020 21.06.2020

27.03.2021

TQ 4. When is an individual regarded as Resident but not Ordinarily Resident? 6

TQ 5. Mr. Pawan sells his Residential house on 1.04.2021 for Rs.86,70,000, which was acquired

by him on 1.10.2019 for Rs.30,00,000.The expenses on transfer were Rs.70,000.Compute 3

Capital gain for AY 2021-22 ?

TQ 6. Mr. Kalicharan, a businessman, had acquired a sculptures for Rs.8,36,600 and a drawing

for Rs.20,000 in the year 2004-05.He sold the sculptures for Rs.9,00,000 to a university and the

drawing for Rs.15,000 to a National Museum on 25.12.2020.Compute CG for AY 2021-22? 3

1. Income from House-property(net) Rs. 80,000

2. Income from Business/Profession Rs.50,000

3. Long term capital Gain 3,30,000

4. Long term Capital Gain (U/S 112A ) 6,00,000

5. Short term Capital Gain 20,000

6. ST-111A for 2,00,000

7. Lottery income 2,00,000

8. Other income 10,000

9. Deduction allowed u/s (80C-80U) 2,00,000​

Answer 1

Answer:

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