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The document presents various financial figures, including defaults and incomes related to agricultural and business sectors. It defines 'assessee' under the Income-tax Act, 1961, detailing who is liable for tax and the conditions under which income from nurseries is considered tax-exempt. Key figures include defaults of 1,91,36,000 and 2,27,48,700, along with specific income amounts for individuals and sectors.

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25 views1 page

DT Module Answers

The document presents various financial figures, including defaults and incomes related to agricultural and business sectors. It defines 'assessee' under the Income-tax Act, 1961, detailing who is liable for tax and the conditions under which income from nurseries is considered tax-exempt. Key figures include defaults of 1,91,36,000 and 2,27,48,700, along with specific income amounts for individuals and sectors.

Uploaded by

ishanmutha
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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1.

15,600
2. Nil
3. Default 1,91,36,000
Old 1,93,57,000
4. 70,55,750
5. 14,69,000
6. a. 3,04,200
b. 3,01,600
c. 2,91,200
7. 1,76,800
8. Agri 7.8 lakh
Business 4.2 lakh
9. Default 60,27,840
Old 61,71,360
10. Default 2,27,48,700
Old 2,48,68,870
11. 14,19,600
12. Raja 2.5lakh
Shyam 8 lakh
13. Income 25.25 lakh
14. income derived from saplings or seedlings grown in a nursery shall
be deemed to be agricultural income and exempt from tax, whether or not
the basic operations were carried out on land.
15. assessee means a person by whom any tax or any other sum of money is
payable under the Income-tax Act, 1961. In addition, the term includes –
Every person in respect of whom any proceeding under the Act has been
taken for the assessment of his income; or the income of any other
person in respect of which he is assessable; or the loss sustained by him
or by such other person; or the amount of refund due to him or to such
other person.
 Every person who is deemed to be an assessee under any provision of
the Act;
 Every person who is deemed to be an assessee in default under any provision
of the Act

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