Question

Mr. Ramakant provides you the following information for the financial year 2018-19.
1. Salary @ Rs. 6,000 p.m.
2. Bonus for the year Rs. 2,000 was declared.
3. Honorarium for playing cricket from Mulund Gymkhana Rs. 5,000/-
4. Received an award of Man of the Match of Rs. 5000/-
5. Arjun Award of Rs. 10,000 instituted in the public interest by Govt. of Maharashtra for
showing proficiency in sports.
6. He owns the following securities on 1-4-2018.
a. 15% Mumbai Port Trust Bonds Rs. 15000/- (Interest payable annually)
b. 10% Bonds of Narmada Cement Ltd. Rs.7,500/-
7. Interest on-
a. Fixed Deposit with state Bank of India Rs. 12,800/-
b. Interest Accrued on Indira Vikas Patra Rs. 11,200/-
Compute Mr. Ramakant's total income for the assessment year 2019-20.​

Answer 1

Answer:

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Explanation:

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