Unit - II

1. Mr. Sreenivas submits the particulars of his income for the previous year ending March
31, 2022.
Dividends from X ltd, a foreign company (Gross) Rs.40000
Dividends from Y ltd, an Indian company (Gross) Rs.30000
Dividends from Cooperative society Rs.3000
Determine the chargeable income under the head other sources.
Answer : 73,000
2. Shri Venumadhav gives the following particulars of his income for the previous year
ending march 31, 2022 : winning from lottery on Jan 1, 2022 : net amount : Rs.49000.
winnings from card games Rs.16000. Determine the income chargeable for previous year
2021-2022.
Answer : 86,000

3. Shri Govindan provides the income for previous year ending march 31, 2022 : winning
from horse race on 3rd October 2021 : net amount : Rs.1,47,000 ; winning from lottery on
Nov 5, 2021 : Rs.15000.
Answer : 2,25,000

4. Mr.Mohan, a resident individual , furnishes the following particulars of his income for
the previous year ending march 31, 2022.
Dividends from Microsoft , a foreign company (gross) Rs.60,000.
Dividend from Telco(gross) Rs.7000
Dividends from units of UTI Rs.5000.
Answer : 72,000

5. Compute the income from other sources of Mr.Murugan for the assessment year 2022-23.
Dividend (gross)from Ashok Leyland ltd Rs.50000.
Interim Dividend from TVS ltd Rs.10000
Dividend from a co-op society Rs.10000
Dividend from a foreign company (net) Rs.52000.
Dividend from mutual funds Rs.6000.
Answer : 1,28,000

6. Mr. ‘K’ received the following incomes during 2021-22. Compute his incomes under the
head ‘income from other sources’ separately for each case:
Items in A:
(A) Winnings from Sikkim Lottery received Rs. 1,05,000.
(B) Winnings from Horse race (Amount won) Rs. 2,000
(C) Winnings from crossword puzzle Rs. 4,000.
Items in B:
 (A) Winnings from Lottery (Amount won) Rs.2,000.

(B)Winnings from horse race received Rs. 56,000.

Answer : 1,56,000

7. Mr. Rajesh furnished the following incomes during 2021-22. Compute taxable income
under ‘Other Sources’.
(A) Winning from Tamil Nadu State Lottery Rs. 1,80,000
(B) Winning from Horse races (Amount won) Rs. 1,500
(C) Winning from cross word puzzle Rs. 15,000
(D) Winning from Card games Rs.20,000
(E) Winnings from gambling and bettings Rs.25,000
(F) Loss from Card games Rs. 10,000.
(G) Expense on buying lottery tickers Rs. 500.
Answer : 2,41,500

8. From the following particulars, compute the income from the other sources for the A. Y.
22-23.
(A) Winnings from horse races Rs. 10,000
(B) Winnings from lottery tickets Rs. 50,000
(C) Amount spent on lottery tickets Rs. 5,000
(D) Dividend received (Net) TDS 10% Rs.81,000
Answer : 1,50,000

9. From the following compute the income from other sources for the assessment year
2022-2023.
(A) Dividend (Gross) Rs. 16,000
(B) Winnings from horse races Rs. 40,000
(C) Winnings from lottery tickets Rs. 1,00,000.
Answer : 1,56,000

10. Mr. A has the following income during the year ending 31/3/2022.
(A) Dividend declared by M.co. on 31/3/2022 – Rs.6,000.
(B) Dividend declared by Z.co. on 31/3/2022 – Rs.9,000.
(C) Interim dividend received on 1/5/2022 – Rs. 3,000
(D) He won gold worth Rs. 10,00,000 from Punjab state lottery.
(E) During March 2022 he earned Rs. 1,00,000 as prize money on horse races.
These horses are owned by him and expenditure incurred on maintenance of
 these horses amounted to Rs. 1,60,000. Compute the income from other
sources.
Answer : 10,18,000 C/F : 60,000

11. Mrs. X gives you the following particulars in respect of her income for the financial year
2021-2022. Compute her income under the hand income from other sources.

Interim Dividend 4000

Dividend from a company on equity shares
3000
Dividend on preference shares 4000
Director’s fees 1800
Ground rent 3000
Income from sub letting 6000
Dividend from foreign company (net)
5000
Interest on national defence gold bonds, 1980
3000
Answer : 26,800

The following income are received by Mr. S during the previous year 2021-2022(AY 2022-
2023)

Directors fees 6000

Income from agricultural land in Pakistan 40000
Interest on savings from Bank 1500
Interest on fixed deposit 1800
Winning from lottery (net) 33,000
Royalty on books 20000
(expenses for writing the book Rs.4000)
S had a land at Chennai , which was acquired by govt during 2015-2016 , along with
compensation , Rs.1,20,000 was paid as interest for late payment during 2020-21. Compute his
income from other sources.

Answer : 1,72,442

13. Mr. Chowdharys income details for 2021-2022 are as follows:

(1) Agricultural income from Sri Lanka Rs. 20,000

(2) Interest on POSB a/c Rs. 1,000
 (3) Interest on deposit Rs. 9,000
(4) Income from sub-letting Rs. 1,500
(5) Dividend from foreign company Rs. 15,000
(6) Horse race income (net) Rs. 53,500
Answer : 1,21,928