INCOME TAX Calculation of Gross Total Income Practical Question and Answers: Mr. Eric has the following...

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INCOME TAX Calculation of Gross Total Income Practical Question and Answers: Mr. Eric has the following incomes during the year 2016-17. 1. Income from salary in India from an American Company 2. Dividend from an Indian Company received in Australia (entire amount received and spent in Australia) 3. Income from house property in India received in London 4. Dividend from a foreign company received in Australia and de deposited in a bank there 5. Income from business in Mumbai, managed from America 6. Income from business in America 7. Income earned in England and received there, but brought into India 8. Her uncle sent a bank draft from France as a gift on his marriage Compute the gross total income, if Mr. Eric is: a. Resident and Ordinarily Resident; b. Resident but Not Ordinarily Resident; c. Non-resident Rs. 600000 200000 40000 20000 150000 15000 30000 25000 INCOME TAX Calculation of Gross Total Income Practical Question and Answers: Mr. Eric has the following incomes during the year 2016-17. 1. Income from salary in India from an American Company 2. Dividend from an Indian Company received in Australia (entire amount received and spent in Australia) 3. Income from house property in India received in London 4. Dividend from a foreign company received in Australia and de deposited in a bank there 5. Income from business in Mumbai, managed from America 6. Income from business in America 7. Income earned in England and received there, but brought into India 8. Her uncle sent a bank draft from France as a gift on his marriage Compute the gross total income, if Mr. Eric is: a. Resident and Ordinarily Resident; b. Resident but Not Ordinarily Resident; c. Non-resident Rs. 600000 200000 40000 20000 150000 15000 30000 25000

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