Question

The particulars of income of Smt. Rani (age 62 years) for the previous year ended 31st
March, 2020 are as under:
₹
(1) Taxable income from the house property
27,000
(2) Profits and gains of business
9,80,000
(3) Capital gains in respect of Short-term Capital Assets
5.000
(4) Capital loss in respect of Long-term Capital Assets being Buildings
20,000
Find out the tax liability for the Assessment Year 2020-21.​

Answer 1

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