Question

Red holds 40% of shares in a Company. Mrs. Red (a CS) is employed in the company as a Company Secretary and is getting salary of Rs. 15,000 per month. Compute total income and tax payable by Red and Mars. Red for the Assessment Year 2020-21 assuming other income of Red is Rs. 2,00,000 from a business and dividend income from company is Rs. 3,00,000.

Answer 1

Answer:

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