Question
Mr. A has the following incomes during the year:
>Income from Salary: ₹4,00,000 Income from House Property (net after deductions): ₹1,00,000 Profit from Business: ₹2,00,000 Income from Capital Gains: ₹50,000 Income from Other Sources: ₹25,000 What is his total taxable income ?Solution
Total taxable income is sum of all heads: ₹4,00,000 + ₹1,00,000 + ₹2,00,000 + ₹50,000 + ₹25,000 = ₹7,75,000 However, if there are no losses or deductions, total is ₹7,75,000. But since no losses/deductions are mentioned, answer should be ₹7,75,000.
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