The Net Taxable Income of Mr. Sagar Dharahas (aged 25 years) is 37,25,000. This Incomeincludes two components (i) Income from Lotteries { 6,00,000 and (ii) remaining balance is RegularIncome. Find out the total Income Tax Liability of Mr. Sagar Dharahas if he is a Resident Indian forthe Assessment Year 2020-21 (Financial Year 2019-20). (Ignore TDS)7 9,67,200.00O 9,76,200.00O 9,03,000.00O 9,30,000.00

In India from A.Y 2020.21 i.e F.Y 2019-20 two alternatives are given for…

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des two comp me. Find out t Assessment Y«

SWFT Individual Income Taxes

43rd Edition

ISBN:9780357391365

Author:YOUNG

Publisher:YOUNG

Chapter12: Alternative Minimum Tax

Section: Chapter Questions

Problem 30P

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Question

The Net Taxable Income of Mr. Sagar Dharahas (aged 25 years) is 37,25,000. This Income
includes two components (i) Income from Lotteries { 6,00,000 and (ii) remaining balance is Regular
Income. Find out the total Income Tax Liability of Mr. Sagar Dharahas if he is a Resident Indian for
the Assessment Year 2020-21 (Financial Year 2019-20). (Ignore TDS)
7 9,67,200.00
O 9,76,200.00
O 9,03,000.00
O 9,30,000.00

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