Determine the total income of Shri kaushal Kumar from the following particulars for the year ending on 31st March 2022.
| RS | ||
| 1 | Interest received on 7% bonds of UP Govt. | 5,000 |
| 2 | Income from house property | 24,000 |
| 3 | Dividend received on preference shares of Indian company | 10,000 |
| 4 | LTC Loss (Related to the year 2019-20) | 7,000 |
| 5 | LTC Gain | 5,000 |
| 6 | STC Gain | 6,000 |
| 7 | STC Loss | 2,000 |
To determine the total income of Shri Kaushal Kumar for the year ending on 31st March 2022, we need to consider various elements of income tax and compute his total income accordingly. The elements of income tax include income from various sources such as interest, house property, capital gains, dividends, and losses. Let's calculate each component and then sum them up to find the total income:
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