Mr Rajesh submits the following particulars find out incom from other ...
Income from Other Sources of Mr. Rajesh
Agriculture Income
- Land situated in Nepal
- Amount: Rs. 76,200
Interest on Foreign Securities
- Gross amount: Rs. 2,35,150
Lottery Winning
- Won lottery of Rs. 7 lakh of Maharashtra government
- Received amount after tax deduction at sources: Rs. 2,10,000
Bank Deposit
- Deposited Rs. 5,00,000
- Bank: Bank of India
- Interest rate: 6.5% p.a.
Total Income from Other Sources: Rs. 5,21,350
Explanation:
Mr. Rajesh has four sources of income from other sources. Firstly, he has agriculture income from land situated in Nepal, which is Rs. 76,200. Secondly, he has earned interest on foreign securities, which is Rs. 2,35,150. Thirdly, he has won a lottery of Rs. 7 lakh from the Maharashtra government, and after tax deduction at sources, he received Rs. 2,10,000. Finally, he deposited Rs. 5,00,000 in Bank of India with an interest rate of 6.5% p.a.
Therefore, the total income from other sources of Mr. Rajesh is Rs. 5,21,350.