Answer to Question #151497 in Finance for ka

Question #151497
Miss Seema, is a resident individual, shares following information in relation to previous year
Salary Income (Net)
Business Income(Net)
Long term capital gain on sale of land and Loss from Gambling in a game
Amount in Rs 200000 350000 16000 30000

There are certain other types of losses -Unabsorbed Depreciation
Short term capital Loss
15000 10500

a. Define and Compute Gross Total income

b. Discuss the concept of carry forward of losses with reference to above context also, discuss the amount of Loss that can be carried forward in the said case. In case it’s any number 15000/10500/Nil give reason for the same.
Expert's answer
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