cluubing provisions

itika mehra (articled assistant) (202 Points)

10 November 2010  

Hey i have a doubt in this que. i am unable to get solution to this question please give me proper soltuion to this question.

Que.

The following details are furnished in respect of Mr. Balyaan and his family members.Determine the Gross total income:

  Particulars
 Mr.Balyaan
 Mrs.Balyaan
 Minor child
  income as child artist in films     65000
  Business income (own) (45000)    
 

Salary income from Balyaan Ltd.(in which Mr.balyaan holds 25%voting power)

@ 3000p.m.

   50000  
  Commision from B&Co.   25000  
  Interest income 9000 6000 5000

Share of profit from firm B&Co.

(40%)

80000


nil

(10%)

20000

 

Note:

(1)Mrs.Balyaan possesses B.Com Degree and works as accountant of Balyaan Ltd.

(2)Mrs. Balyaan does not render any services to M/s.B& Co.

(3)
Interst income received by Mrs. Balyaan is from an investment of rs. 40000 gifted br Mr.Balyaan and rs.40000 invested from her own source.