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Mr. Chatterji derives income from estates in coffee, rubber and tea. He is also a nursery wherein he grows plant and sells for the previous year ending 31st march 2019. From the following particular of income from estates and sale of plant, computer the taxable income for the assessment year 2019-20. (i) manufacturer of rubber 8,00,000 (ii) manufacturer of coffee grow 2,00,000 And cured (iii) manufacturer of tea 4,00,000 (iv) sale of plant from nursery 1,50,000?
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Mr. Chatterji derives income from estates in coffee, rubber and tea. H...
Calculation of Taxable Income for Assessment Year 2019-20

Income from Estates:
- Manufacturer of rubber: ₹8,00,000
- Manufacturer of coffee: ₹2,00,000 (grown and cured)
- Manufacturer of tea: ₹4,00,000

Sale of Plant from Nursery:
- ₹1,50,000

Total Income:
- Income from estates: ₹8,00,000 + ₹2,00,000 + ₹4,00,000 = ₹14,00,000
- Sale of plant from nursery: ₹1,50,000
- Total income: ₹14,00,000 + ₹1,50,000 = ₹15,50,000

Deductions:
- Deduction under Section 24(a) of the Income Tax Act for income from house property (assuming no other deductions are available): ₹0

Net Taxable Income:
- Net taxable income: Total income - deductions = ₹15,50,000 - ₹0 = ₹15,50,000

Tax Calculation:
- As per the income tax slab rates for the assessment year 2019-20:
- Up to ₹2,50,000: Nil
- ₹2,50,001 to ₹5,00,000: 5% of taxable income
- ₹5,00,001 to ₹10,00,000: 20% of taxable income
- Above ₹10,00,000: 30% of taxable income

Taxable Income Breakdown:
- Up to ₹2,50,000: Nil
- ₹2,50,001 to ₹5,00,000: ₹5,00,000 - ₹2,50,001 = ₹2,49,999 * 5% = ₹12,499.95
- ₹5,00,001 to ₹10,00,000: Nil
- Above ₹10,00,000: Nil

Total Tax:
- Total tax: ₹12,499.95

Conclusion:
The taxable income for the assessment year 2019-20 is ₹15,50,000 and the total tax payable is ₹12,499.95.
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Mr. Chatterji derives income from estates in coffee, rubber and tea. He is also a nursery wherein he grows plant and sells for the previous year ending 31st march 2019. From the following particular of income from estates and sale of plant, computer the taxable income for the assessment year 2019-20. (i) manufacturer of rubber 8,00,000 (ii) manufacturer of coffee grow 2,00,000 And cured (iii) manufacturer of tea 4,00,000 (iv) sale of plant from nursery 1,50,000?
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Mr. Chatterji derives income from estates in coffee, rubber and tea. He is also a nursery wherein he grows plant and sells for the previous year ending 31st march 2019. From the following particular of income from estates and sale of plant, computer the taxable income for the assessment year 2019-20. (i) manufacturer of rubber 8,00,000 (ii) manufacturer of coffee grow 2,00,000 And cured (iii) manufacturer of tea 4,00,000 (iv) sale of plant from nursery 1,50,000? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about Mr. Chatterji derives income from estates in coffee, rubber and tea. He is also a nursery wherein he grows plant and sells for the previous year ending 31st march 2019. From the following particular of income from estates and sale of plant, computer the taxable income for the assessment year 2019-20. (i) manufacturer of rubber 8,00,000 (ii) manufacturer of coffee grow 2,00,000 And cured (iii) manufacturer of tea 4,00,000 (iv) sale of plant from nursery 1,50,000? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mr. Chatterji derives income from estates in coffee, rubber and tea. He is also a nursery wherein he grows plant and sells for the previous year ending 31st march 2019. From the following particular of income from estates and sale of plant, computer the taxable income for the assessment year 2019-20. (i) manufacturer of rubber 8,00,000 (ii) manufacturer of coffee grow 2,00,000 And cured (iii) manufacturer of tea 4,00,000 (iv) sale of plant from nursery 1,50,000?.
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