1. This document appears to be an exam for Income Tax-I. It contains 7 questions and is divided into Section A and Section B.
2. Section A contains 10 short questions worth 2 marks each. Section B contains 4 long form questions worth 10 marks each that students must attempt 4 of.
3. The questions cover topics like residential status, income clubbing, capital gains calculation, deductions and exemptions, and computing total income from various sources.
1. This document appears to be an exam for Income Tax-I. It contains 7 questions and is divided into Section A and Section B.
2. Section A contains 10 short questions worth 2 marks each. Section B contains 4 long form questions worth 10 marks each that students must attempt 4 of.
3. The questions cover topics like residential status, income clubbing, capital gains calculation, deductions and exemptions, and computing total income from various sources.
1. This document appears to be an exam for Income Tax-I. It contains 7 questions and is divided into Section A and Section B.
2. Section A contains 10 short questions worth 2 marks each. Section B contains 4 long form questions worth 10 marks each that students must attempt 4 of.
3. The questions cover topics like residential status, income clubbing, capital gains calculation, deductions and exemptions, and computing total income from various sources.
1. This document appears to be an exam for Income Tax-I. It contains 7 questions and is divided into Section A and Section B.
2. Section A contains 10 short questions worth 2 marks each. Section B contains 4 long form questions worth 10 marks each that students must attempt 4 of.
3. The questions cover topics like residential status, income clubbing, capital gains calculation, deductions and exemptions, and computing total income from various sources.
B.COM (2011 & Onwards) (Sem.–5) 20866 20866 20866 20866 20866 20866 20866 20866 20866 INCOME TAX–I Subject Code : BCOP-502 Paper ID : [B1151] 20866 20866 20866 20866 20866 20866 20866 20866 20866 Time : 3 Hrs. Max. Marks : 60
INSTRUCTION TO CANDIDATES : 20866 20866 20866 20866 20866 20866 20866 20866 20866 1. SECTION-A is COMPULSORY consisting of TEN questions carrying T WO marks each. 2. SECTION-B contains SIX questions carrying T EN marks each and a student has to attempt any FOUR questions. 20866 20866 20866 20866 20866 20866 20866 20866 20866
SECTION-B 20866 20866 20866 20866 20866 20866 20866 20866 20866 2. How would you determine the residential status of an individual? 3. Under what circumstances income of other person can be clubbed with the income of the 20866 20866 assessee? 20866 20866 20866 20866 20866 20866 20866
a) Additional Depreciation b) Provisions related to preliminary expenses 20866 20866 20866 20866 20866 20866 20866 20866 20866 5. Discuss in detail the provisions regarding rebates and reliefs. 6. The following are the particulars about sale of assets of Mr. X during the year 2013-14. 20866 20866 20866 20866 Jewellery20866 Rs. 20866 Plot Rs. 20866 Gold Rs.20866 20866
Sale Price 5,00,000 17,24,000 3,00,000
20866 20866 Expenses 20866 on sale 20866 50,000 20866 24,000 20866 20866 – 20866 20866
capital gain if C.I.I for 2013-14 is 939. 20866 m He has purchased a house for Rs. 12,00,000 on 1-3-2014. Calculate the amount of taxable
o 20866 20866 20866
.r c 7. Following are the particulars of incomes and expenses of Mr. Y for the year ended 31st March, 2014 :
m 20866 20866 20866 20866 20866 20866 20866 20866 20866
p e (a) He is getting a basic salary of 40,000 p.m. He also gets dearness allowance @ 10,000
o p.m. He and his employer contribute 10% of his salary to the provident fund. (b) He 20866 a is getting Entertainment allowance of Rs. 5,000
.r c 20866 20866 20866 20866 20866 p.m. He has 20866been provided 20866with a 20866
p 1.2 lt capacity car with a driver, the running and maintenance expenses whereof are
20866 20866 20866
b r 20866 20866 20866
p e met by the employer. The car is used by him both for the official and personal purpose. 20866
(c) He owns two houses, one of which is let out at a rent of Rs. 400 p.m. and other 20866 20866
a (whose annual value is Rs. 1,000) remained vacant throughout the year on account of
rp 20866 20866 his 20866 employment at20866 Ambala where he has taken 20866 a house on rent. 20866 20866 The two houses 20866 are 20866 subject to Municipal taxes of Rs. 600 and 100 respectively.
20866 20866 12,000. He 20866 Development Bonds. has also received 20866 b (d) During the year Mr. Y has received dividends from a foreign company amounting to Rs.20866 Rs. 2,000 20866 interest 20866 received on 20866 National 20866
(e) He earned Rs. 8,070 from his fixed bank deposits.
20866 20866 (f) He 20866 deposited Rs.20866 20866 14,000 in National Saving20866 20866 Scheme, 1992 and 10,000 20866 in Public 20866
Provident Fund A/c.
Compute the total income of Mr. Y. 20866 20866 20866 20866 20866 20866 20866 20866 20866
