Mr. Ashutosh, aged 65 years and a resident in India, has a total income of 3,20,00,000, comprising long term capital gain taxable under section 112 @ 20% of 57,00,000, long term capital gains taxable under section 112A @10% of 65,00,000 and other income of 1,98,00,000. What would be his tax liability for A.Y. 2025-26. Assume that Mr. Ashutosh has not opted for the provisions of section 115BAC. (Assumed that all capital gains are done before 23.07.2024. (MTP 2 Marks, Oct'21)

Mr. Ashutosh, aged 65 years and a resident in India, has a total income of 3,20,00,000, comprising long term capital gain taxable under section 112 @ 20% of 57,00,000, long term capital gains taxable under section 112A @10% of 65,00,000 and other income of 1,98,00,000. What would be his tax liability for A.Y. 2025-26. Assume that Mr. Ashutosh has not opted for the provisions of section 115BAC. (Assumed that all capital gains are done before 23.07.2024. (MTP 2 Marks, Oct'21)

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