Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 2. during the p.y.2023-24, mr. rohan has rs.80 lak

2. During the P.Y.2023-24, Mr. Rohan has Rs.80 lakhs of short-term capital gains taxable u/s...

90.2K

Verified Solution

Question

Accounting

2. During the P.Y.2023-24, Mr. Rohan has Rs.80 lakhs of short-term capital gains taxable u/s 111A, Rs.70 lakhs of long-term capital gains taxable u/s 112A and business income of Rs.2.90 crores. Which of the following statements is correct?
(a) Surcharge@25% is leviable on income-tax computed on total income of Rs.4.40 crores
(b) Surcharge@15% is leviable on income-tax computed on total income of Rs.4.40 crore
(c) Surcharge@15% is leviable in respect of income-tax computed on capital gains of Rs.1.50 crore, in respect of business income of Rs.2.90 crores, surcharge is leviable@25% on income-tax
(d) Surcharge@ 15% is leviable in respect of income-tax computed on capital gains of Rs.1.50 crore, in respect of business Income of Rs 2.90 crores, surcharge is leviable 37 on income tax

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Calculate the pH of a 0.45M solution of Benzonic Acid. (Use the quadratic equation to solve).

Chemistry
Q

PLEASE ANSWERS 1-3 QUESTIONS AND ILL LIKE AND COMMENT 1. Which of the following biomes is...

Biology
Q

A highly debated subject in policy recently has been how to handle medical pricing (or medical...

Economics
Q

A function from X domain to Y range is a relation that matches each element...

Geometry
Q

Assume that the mortgage is a 20 year adjustable rate mortgage a Use the table...

Basic Math
Q

Write the sum as a product cos 18 7v cos 11 7v Note coefficients inside...

Calculus
Q

Evaluate the integral S 2x 2 3x 1 dx

Calculus
Q

Exercise 24-1 Your answer is partially correct. Try again. Linkin Corporation is considering...

Accounting
Q

Stevenson Company is divided into two operating disors: Battery and Small Motors. The company allocates...

Accounting
Q

Two independent companies, Denver and Bristol, each own a warehouse, and they agree to an...

Accounting
Q

80 percent collected in the month of sale. 10 percent collected in the first month...

Accounting
Q

Archer Hardware is adding a new product line that will require an investment of $1,540,000....

Accounting