Gopal derived the following income for year 2020: (i) Interest income from loan to his company XYZ Pte Ltd. The company's financial year ended on 30 June 2020. (ii) Business income from his sole proprietorship business, Gopal and Sons. The financial year of his sole proprietorship business ended on 30 June 2020. (iii) Rental income from his property at 116 Race Course Road. (iv) Salary from XYZ Pte Ltd. For Year of Assessment 2021, the basis period of Gopal's various income should be Question 4 options: A) 1 January to 31 December 2020 for all his income sources. B) 1 July 2019 to 30 June 2020 for business income and 1 January to 31 December 2020 for interest income, rental income and salary. C) 1 January to 30 June 2020 for interest and business income and 1 January to 31 December 2020 for rental and salary.
Gopal derived the following income for year 2020:
(i) Interest income from loan to his company XYZ Pte Ltd. The company's financial year ended on 30 June 2020.
(ii) Business income from his sole proprietorship business, Gopal and Sons. The financial year of his sole proprietorship business ended on 30 June 2020.
(iii) Rental income from his property at 116 Race Course Road.
(iv) Salary from XYZ Pte Ltd.
For Year of Assessment 2021, the basis period of Gopal's various income should be
Question 4 options:
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