INCIDENCE OF TAX

(AY 2023-2024)

1) The following are the particulars of income of Ram for the previous year 2022-23

Rent from property in Delhi received in USA 80,000

Income from business in USA controlled from Delhi 1,20,000

Income from a business in Bangalore controlled rom USA 1,80,000

Rent from a property in USA received there but subsequently remitted in 60,000
India

Interest from deposits with an Indian company received in USA 20,000

Profits for the year 2021-22 of a business in USA remitted to India during 75,000
the PY 2022-23 (Not taxed earlier)

Gifts received from his parents (i.e., relative) 45,000

Interest from Indian company received in London 1,20,000

Pension from former employer in India received in USA 1,80,000

Profits earned from a business in Paris which is controlled in India, 2,00,000

half of the profits being received in India

Income from agriculture in Bhutan and remitted in India 1,25,000

Income from property in England received there 4,00,000

Past foreign income bought to India 10,000

Gift of money received by X, outside India on 5-8-2022 from Y,

a resident in India 1,20,000

Compute his income for the AY 2023-24 if he is:

i. Resident and ordinarily resident in India
ii. Not ordinarily resident in India
iii. Non - Resident in India
2) From the following particulars. Determine the income of X for the AY 2023-24

a) Capital gain on a sale of property in Pune (amount is received in USA) 17,10,000

b) Income from business in Pune controlled from USA 21,50,000

c) Income from business in USA controlled from Pune (amount received in 15,90,000
USA)

d) Rent from commercial property in UK received in USA but later remitted to 28,80,000
India

e) Consultancy fees received from an Indian company (for a project in UK) 9,50,000

(amount is deposited in his Canara Bank account, Pune branch but withdrawn by
him in USA)

f) Interest from deposits with an Indian company received in USA 2,30,000

g) Profits for the year 2020-21 of a business in USA remitted to India during PY 7,70,000
2022-23

h) Gift received from parents of Mrs. X (relative) 10,00,000

i) Royalty received from the Government of West Bengal 3,00,000

Determine his GTI for the PY 2022-23 if he is (i) ROR (ii) RNOR (iii) NR

3) Mr. Riaz, an Indian citizen carries on business. His stay in India over the past 10 years is as follows

2022-23 100 days

2021-22 80 days
2020-21 165 days
2019-20 100 days
2018-19 90 days
2017-18 150 days
2016-17 200 days
2015-16 250 days
2014-15 100 days
2013-14 70 days
 2012-13 65 days
2011-12 40 days

His incomes are:

(i) Profits from his own business, head office in Chennai Rs. 12,00,000
(ii) Interest from France Co received there Rs. 10,000
(iii) Pension from France Govt received there Rs. 50,000
(iv) Profits from his branch in Malaysia deposited in the bank there Rs. 5,00,000
(v) Remitted to India, business profits in Sri Lanka of year 2018-19 Rs. 2,00,000
(vi) Winnings at casino in Malaysia Rs. 1,00,000, 50% received in India.
Determine his GTI for the PY 2022-23.

4) Roy, a foreign national furnishes the following particulars. of his income relevant for the PY
2022-23.
Profit on sale of plant at London (1/3 is received in India) 1,50,000

Profit on sale of plant at Delhi (1/4 is received in London) 1,00,000

Salary from Indian Co, received in London (1/5 is paid for rendering service in 60,000
India)

Interest on UK development Bonds (entire amt is received in London) 40,000

Income from agriculture in London received there 50,000

Dividend received in London on May 6th 2022 from a Co registered in India but 17,000
operating in UK

Profit from business in Delhi, managed from India 50,000

Gift in foreign currency received on Sept 20th 2022 from a friend 9,00,000

Interest on German Development bonds (2/5th is received in India) 60,000

Income from property in Canada received outside India (₹76,000 is used in 86,000
Canada for meeting educational expenses of X’s daughter in USA and ₹10,000
later remitted to India

Profit of a sole proprietary business situated in Dubai, received in Mauritius 4,50,000

(business is entirely controlled from India)

Loss from business situated in Singapore (-)2,00,000

 Speculation profit earned and received in India on April 1,2023 4,00,000

Profit on sale of a house property situated in UK (50% is received in Chennai 1,77,000

and 50% is received in UK)

Income from a profession set up in Bangalore (Consultancy is provided in UK 8,32,000

and amount is received in UK)

Honorarium received from Govt of India (Rs.15,000 incurred in travelling Rs.100,000

expense in this connection)

Determine GTI for the PY 2022-23 if he is (i) ROR (ii) RNOR (iii) NR

5) From the following information compute total income of Ms. Nisha for AY 2023-24
(HOMEWORK)
(i) Technical fee received from Govt of India for services rendered in Pakistan Rs. 25,000
(ii) Business profits of Rs. 25,000 earned in Japan, 50% received in India
(iii) Profits from business in Delhi, but entire control is from New York Rs. 10,000
(iv) Losses from business in Mumbai Rs. 50,000
(v) Profits received from business in Bangladesh, business controlled from Bangalore Rs.
20,000
(vi) Salary received from UNO Rs. 25,000
(vii) Dividends received from Wipro Rs. 5,000
(viii) Interest received from Infosys bonds Rs. 10,000
(ix) Profits from business in Pune received in Paris Rs. 15,000
(x) Technical fees received in China for services rendered there Rs. 8,000
(xi) Royalty received Rs. 10,000 for the purpose of a profession carried on by Nisha in India
(xii) Agricultural income from Sri Lanka not remitted to India Rs. 6,00,000

6) Compute the taxable income of George, a non-resident for the PY 2022-23 (HOMEWORK)
(i) Income from operations confined to the purchase of goods in India for the purpose of export
Rs. 40,000
(ii) Income from operations confined to shooting of a cinematography film in India. G is an
Indian citizen Rs. 1,00,000
(iii) Income from salary received in India for services rendered outside India Rs. 60,000.