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Commerce · Q193

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 193

Q193

Assume that Arjun has earned an income of Rs. 4 lakh by way of lumpsum consideration for copyright of book from a publisher in Country Y, with which India does not have a DTAA. The same has been taxed at a flat rate of 5% in Country Y. In India, his gross total income is Rs. 7 lakh. The double taxation relief available is

A.
Rs. 20,000
B.
Rs. 5,000
C.
Rs. 12,000
D.
Rs. 1,932
Answer

Answer: Option D

Solution

Answer: Option D
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