Accountancy, asked by saptarshi261297, 4 months ago

Q.1 The following are the particulars of income of Sri Arun Singh for the previous year

2019-20:

(a) Profit of Rs. 50,000 from a business in Nepal deposited in a bank therein. The business is

controlled from India.

(b) Income from house property in London but received in India Rs. 1,00,000.

(c) Income from agriculture in Bangladesh received therein Rs. 75,000.

(d) Income of Rs. 60,000 from a business in Sri Lanka received in India. The business is

controlled from Sri Lanka.

(e) Rs. 80,000 brought into India out of the past untaxed profit earned in USA​

Answers

Answered by SameerAnsari0786
0

Answer:

If Shri Arun Singh is Resident and Ordinarily Resident

a) Profit of from a business in Nepal ,the

   business is  controlled from India.                                            50000

b) Income from house property in London

   but received in India                                                                100000

c) Income from agriculture in Bangladesh

   received therein                                                                       75000

d) Income of from a business in Sri Lanka

   received in India. The business is  controlled

   from Sri Lanka.                                                                         60000

e) Brought into India out of the past

   untaxed profit earned in USA​                                                 80000

    Total Taxable                                                                         365000

If Shri Arun Singh is Resident but not Ordinarily Resident

a) Profit of from a business in Nepal ,the

   business is  controlled from India.                                            50000

b) Income from house property in London

   but received in India                                                                100000

c) Income from agriculture in Bangladesh

   received therein                                                                    Not Taxable

d) Income of from a business in Sri Lanka

   received in India. The business is  controlled

   from Sri Lanka.                                                                      Not Taxable

e) Brought into India out of the past

   untaxed profit earned in USA​                                                 80000

    Total Taxable                                                                         230000

If Shri Arun Singh is Non- Resident

a) Profit of from a business in Nepal ,the

   business is  controlled from India.                                         Not Taxable

b) Income from house property in London

   but received in India                                                                100000

c) Income from agriculture in Bangladesh

   received therein                                                                    Not Taxable

d) Income of from a business in Sri Lanka

   received in India. The business is  controlled

   from Sri Lanka.                                                                      Not Taxable

e) Brought into India out of the past

   untaxed profit earned in USA​                                              Not Taxable

    Total Taxable                                                                         100000

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