Question

Q. No. 4
₹
Compute income from other sources from particulars given below:
10,000
1. Interest on deposits with a company
2. University remuneration for working as examiner
6,000
3. Royalty for writing books
60,000
He claims to have spent 20,000 on writing these books
4 Dividend declared by R. Co. on 1-3-2019 but paid on 1-5-2019
6,000
5. Interim dividend paid on 1-5-2018
3,000
6. Stake money on race horses
1,50,000
Horses are maintained by him and expenses on
maintenance of these horses are
2,40,000
7. Family pension received
36,000
[Hints : General Incomes u/s 56(1) 80,000 Specific incomes u/s 56(2) NIL Exp. on horses to be
c/f 90,000 Income from other sources * 80,000​

Answer 1

Answer:

answer I don't know

Explanation:

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Answer 2

Answer:

General incomes=Rs.80000

Specific incomes=Rs.9000

income from other sources = Rs. 80000

Explanation:

General income:

1.Interest on deposit with co =10000

2.University rem as examiner= 6000

3. Royalty 60000-20000(expense)=40000

4.family pension received 36000-12000=24000

(1/3% of 36000 is 12000

12000 or 15000 w.e is less is deductable)

Specific income:

dividend by Rco =6000

interim dividend =3000

stake money on horse race is Rs 150000

expenses on maintenance us Rs 240000

loss to be carried forward is Rs.90000