Question

Set of or Carry Forward Losses
S/519
6000
3000
000
int
f) Long term capital loss
15000
g) Short term capital gain
20000
Compute the gross total income of Mr. Maruti for the A.Y.2019-20.
(KUD 2018)
2) From the following particulars of income and loss, compute gross total
income of Mr. Vijaya Kumar after set off of losses for the assessment year
2019-2020
i) Loss from self occupied property Rs. 40000
ii) Income from letout property Rs. 35000
iii) Gross salary Rs. 60000
iv) Profit from speculative business Rs. 100000
v) Loss from speculative business Rs. 80000
vi) Short term capital gain Rs. 50000
vii) Short term capital loss Rs. 60000
viii) Long term capital gain Rs. 45000
Ans : Gross Total Income = 70000
(RCU 2018)
a) Income from House Property​

Answer 1

Explanation:

Set of or Carry Forward Losses

S/519

6000

3000

000

int

f) Long term capital loss

15000

g) Short term capital gain

20000

Compute the gross total income of Mr. Maruti for the A.Y.2019-20.

(KUD 2018)

2) From the following particulars of income and loss, compute gross total

income of Mr. Vijaya Kumar after set off of losses for the assessment year

2019-2020

i) Loss from self occupied property Rs. 40000

ii) Income from letout property Rs. 35000

iii) Gross salary Rs. 60000

iv) Profit from speculative business Rs. 100000

v) Loss from speculative business Rs. 80000

vi) Short term capital gain Rs. 50000

vii) Short term capital loss Rs. 60000

viii) Long term capital gain Rs. 45000

Ans : Gross Total Income = 70000

(RCU 2018)

a) Income from House Property