10-mark question · Part C · Law of Taxation

The assessee is a retired employee and he is having income from salary (pension), income from house property, income from other sources. His taxable income for the financial year 2017-18 was Rs. 2,85,000/-. In the month of April 2018 he became a senior citizen. Since he has attained 60 years of age, and since the exempted income for a senior citizen is Rs. 3,00,000/-, he has filed a nil return. The assessing officer assessed the income and levied tax and interest. You as the consultant advise the assessee.

Appeared in

• Law of Taxation · July/August 2019 Mapped paper Download

Mapped topics

• Salary and income from house property — Unit II
• Residential status and scope of total income — Unit I
• Profits of business, capital gains and other sources — Unit II

Mapped case laws