Mr. Ajay (age 40) resident of India earned agricultural income of ₹ 1 lakh from land situated in Sri Lanka. His total income in India amounts to ₹7 lakhs. The tax liability would be:
A. ₹ 77,250
B. ₹ 75,400
C. ₹ 74,675
D. ₹ 56,650
Answer:B
Mr. Ajay (age 40) resident of India earned agricultural income of ₹ 1 lakh from land situated in Sri Lanka. His total income in India amounts to ₹7 lakhs. The tax liability would be:
A. ₹ 77,250 B. ₹ 75,400 C. ₹ 74,675 D. ₹ 56,650