WK 9

NOVEMBER 2014 62123/BPH5C

Time : Three hours Maximum : 75 marks

PART A — (10  2 = 20 marks)

Answer ALL the questions each in 30 words.

1. Explain Assessment Year.

PnURmk Bsk & ÂÍUSP.

2. When an individual will be Non-Resident?

uÛ |£º G¨÷£õx Si°¸¨¦ {ø»²ÒÍ BQÓõº?

3. Define the term ‘Salary’.

"\®£Í®' GßÓ £uzvøÚ Áøμ¯ÖUP.

4. Give the meaning of Gross Annual Value.

ö©õzu Bsk ©v¨¦ Gߣuß ö£õ¸Ò u¸P.

5. Write the meaning of Business.

¯õ£õμ® Gߣuß ö£õ¸øÍ GÊxP.

6. What is Long-term Capital Gain?

}sh Põ» ‰»uÚ C»õ£® GßÓõÀ GßÚ?

7. Explain TDS.

TDS Gߣøu ÂÍUSP.

8. What do you understand by ‘Set off losses’?

"|mh[PøÍ \›PmkuÀ' Gߣx £ØÔ } AÔÁx ¯õx?

9. Give two examples of income from other sources’.

"Cuμ Cn[Pμ¸¢x ö£Ö® Á¸Áõ°ÚzvØS' Cμsk

GkzxUPõmkPÒ u¸P.
10. Compute expected rental value from the following :

Municipal rent& value Rs. 1,08,000

Fair rental value Rs. 1,20,000

Standard rent Rs. 1,02,000.

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¤ßÁ¸ÁÚÁØÔ¼¸¢x Gvº£õºUP¨£k® ÁõhøP ©v¨¤øÚ

PnUQkP.
|Pμõm] ÁõhøP ©v¨¦ ¹. 1,08,000
\›¯õÚ ÁõhøP ©v¨¦ ¹. 1,20,000
{ø» ÁõhøP ©v¨¦ ¹. 1,02,000.

PART B — (5  5 = 25 marks)

Answer any FIVE questions each in 200 words.

11. State the procedure followed in computing the total income of an

assessee.
Á›Âv¨¤ØS Em£m÷hõ›ß ö©õzu Á¸Áõ°øÚ PnUQk®
Âv•øÓPøÍ TÖP.

12. Mr. Sunil Rawat was born in India in the year 1978. From 1998
to 2008 he was in China, from 2009 to 31st March 2012 he was in
America. On 1st April 2012 he came to India and till date he is
staying in India. Identify his residential status from the
assessment year 2013-14.
v¸. _ÛÀ μõÁz GߣÁº C¢v¯õÂÀ 1978&® BsiÀ ¤Ó¢uÁº.
AÁº 1998 •uÀ 2008&® Bsk Áøμ ^Úõ¾®, 2009 •uÀ
31 ©õºa 2012 Áøμ Aö©›UPõÂÀ C¸¢uõº. AÁμx 2013&14&®
PnURmk BsiØPõÚ Si°¸¨¦ {ø»°øÚ PshÔP.

13. From the following calculate Gross Annual Value.

Particulars House I House II
MRV 60,000 1,12,000
FRV 68,000 1,17,000
SR 70,000 1,15,000
Unrealized rent (URR) for the PY 5,000 40,000
(Rule 4 satisfied)
Annual Rent 72,000 1,10,000
¤ßÁ¸® £μ[Pμ¸¢x ö©õzu Bsk ©v¨¤øÚ PnUQkP.
£μ[PÒ Ãk I Ãk II
MRV (|Pμõm] ©v¨¦) 60,000 1,12,000
FRV (\›¯õÚ ÁõhøP ©v¨¦) 68,000 1,17,000
SR ({ø» ÁõhøP) 70,000 1,15,000
ö£Ó•i¯õu ÁõhøP (URR) 5,000 40,000
(4 &Áx ÂvUS Em£mhx)
Á¸h ÁõhøP 72,000 1,10,000

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14. From the following Profit & Loss Account calculate income from
business.
Profit and Loss a/c
Rs. Rs.
To Donations 8,000 By Gross profit 2,50,000
To Rent 40,000 By House Property Income 1,50,000
To Salary to By Income from other
employees 25,000 sources 2,00,000
To Depreciation 10,000
To Net Profit 5,17,000
6,00,000 6,00,000
(a) Depreciation to allowed as per income tax provision
Rs. 8,000
(b) Business income of Rs. 12,000 is not shown in the P & L a/c
(c) Rs. 8,000 of the rent is of personal nature.
¤ßÁ¸® C»õ£ |mh PnUQ¼¸¢x ¯õ£õμ Á¸Áõ°øÚ
PnUQkP.
C»õ£ |mh P/S
¹. ¹.
|ßöPõøh 8,000 ö©õzu C»õ£® 2,50,000
ÁõhøP 40,000 Ãmk ö\õzx Á¸Áõ´ 1,50,000
£o¯õÎß Cuμ CÚ[PÎß
\®£Í® 25,000 Á¸Áõ´ 2,00,000
÷u´©õÚ® 10,000
{Pμ C»õ£® 5,17,000
6,00,000 6,00,000
(A) Á¸©õÚ Á›°ß£i AÝ©vUP¨£mh ÷u´©õÚ® ¹. 8,000
(B) ¯õ£õμ Á¸©õÚ® ¹. 12,000 C»õ£ |mh PnUQÀ
Põmh£hÂÀø»
(C) ¹. 8,000 ©v¨¦ÒÍ ÁõhøP uÛ¨£mh C¯À¦ öPõshx.
15. What are not included in Capital Assets’?
‰¾uÚ ö\õzxPÎÀ ÷\ºUP¨£hõuøÁPÒ ¯õøÁ?
16. Calculate taxable capital gain. An asset was purchased in the
year 2006-2007 for Rs. 4,26,000. During the previous year it was
sold for Rs. 8,00,000. Expenses in connection with the transfer of
sale is Rs. 10,000. (CII 2006-07: 519; 2013-14:939)
‰»uÚ Á¸Áõ°øÚ PnUQkP.
2006&2007 B® BsiÀ Áõ[Q ö\õzx ©v¨¦ ¹. 4,26,000 ö\ßÓ
BsiÀ A¢u ö\õzx ¹. 8,00,000US ÂØP¨£mhx. ÂØ£øÚ
©õØÓ® öuõhº£õÚ ö\»ÄPÒ ¹. 10,000 (CII 2006-07: 519; 2013-
14:939)

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17. Mr. Saleem previous year’s Gross Total Income is Rs. 5,00,000.
He has made the following donations. Calculate the net income.
(a) National Foundation for communal harmony Rs. 10,000
(b) National Children’s Fund Rs. 20,000
(c) National Defence Fund Rs. 25,000
v¸. \½® GߣÁ›ß ö\ßÓ Bsiß ö©õzu Á¸©õÚ® ¹. 5,00,000.
AÁº RÌUPshÁõÖ |ßöPõøhPøÍ ÁÇ[QÚõº. AÁμx {Pμ
Á¸Áõ°øÚ PnUQkP.
(A) ÷u]¯ \©¯ |À¼nUP Aø©¨¦ ¹. 10,000
(B) ÷u]¯ SÇ¢øuPÒ {v ¹. 20,000
(C) ÷u]¯ £õxPõ¨¦ {v ¹. 25,000.
18. What are the losses which could be carried forward and set off?
\›UPmh¨£k® ©ØÖ® ÷©ö»kzx ö\À»¨£k® |mh[PÒ ¯õøÁ?
PART C — (2  15 = 30 marks)
Answer any TWO questions each in 500 words.
19. Explain in detail about which incomes are taxable for Ordinary
resident, Not Ordinary Resident and Non-Resident.
\õuõμn Si°¸¨¦ {ø» Eøh¯Áº, \õuõμn Si°¸¨¦
{ø»¯ØÓÁº ©ØÖ® Si°¸¨¦ {ø»¯ØÓÁº BQ÷¯õ›ß
Á¸©õÚzvß «uõÚ Á›PøÍ ÂÍUSP.
20. Calculate Gross Salary of Mr. H. Basha. a Government employee
employed in Mumbai with the following emoluments.
Basic Salary Rs. 16,000 per month
DA (forming part) Rs. 6,000 per month
CCA Rs. 1,400 per month
Deputation allowance Rs. 400 per month
Family allowance Rs. 650 per month
Holiday trip allowance Rs. 250 per month
HRA Rs.1,900 (Rs. 2,000
per month paid as rent)
EA Rs. 600 per month
Conveyance allowance Rs. 500 per month
(Actual amount spent
Rs. 4,500)
Academic research allowance Rs. 1,000 per month
(Actual amount spent
Rs. 25,000)

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v¸. H. £õåõ J¸ Aμ_ A¾Á»º •®ø£°À RÌPsh

ö£ÖuÀPÐhß ÷Áø» ö\´QÓõº. AÁ›ß ö©õzu \®£Í
Á¸Áõ°øÚ PnUQkP.
Ai¨£øh \®£Í® ¹. 16,000 (J¸ ©õuzvØS)
£g\¨£i (£[÷PØS®) ¹. 6,000 (J¸ ©õuzvØS)
CCA |Pμ Dmk¨£i ¹. 1,400 (J¸ ©õuzvØS)
©õØÖ £o £i ¹. 400 (J¸ ©õuzvØS)
Sk®£ £i ¹. 650 (J¸ ©õuzvØS)
Âk•øÓ £¯n£i ¹. 250 (J¸ ©õuzvØS)
Ãmk ÁõhøP £i ¹.1,900 (©õuzvØS ¹. 2,000
ÁõhøP ö\¾zv¯x)
ö£õÊx ÷£õUS £i ¹. 600 (J¸ ©õuzvØS)
÷£õUSÁμzx¨£i ¹. 500 (J¸ ©õuzvØS
Esø©¯õÚ ö\»Ä
¹. 45,000)
PÀ B´Ä¨£i ¹. 1,000 (J¸ ©õuzvØS)
Esø©¯õÚ ö\»Ä
¹. 25,000)

21. Calculate income from profession from the following receipts and
payment given by Mr. Aravind.
Receipts Rs. Payments Rs.
To Balance b/d 1,20,000 By Car expenses 24,000
To Fee from client : By Office expenses 6,000
2012-13 25,000 By Salary to staff 7,000
2013-14 30,000 By Interest on loan 1,000
2014-15 32,000 By Income tax 1,500
To Present from client 20,000 By Income tax penalty 600
To Winning from lottery 24,000 By Wealth tax 250
By Purchase cost 5,000
By Balance c/d 2,05,650
2,51,000 2,51,000
(a) Depreciation of Rs. 2,500 is to be provided.
(b) Consider Rs. 1,500 as opening stock and Rs. 1,000 as
closing stock.
(c) Car is 60% used for official purposes.
(d) Income from other sources Rs. 30,000.

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v¸. Aμ¢u öPõkzxÒÍ ö£ÖuÀ ö\¾zxuÀPμ¸¢x AÁ›ß

öuõÈÀ Á¸Áõ°øÚ PnUQkP.
ö£ÖuÀPÒ ¹. ö\¾zuÀPÒ ¹.
C¸¨¦ R/öPõ 1,20,000 Põº ö\»ÄPÒ 24,000
£¯nõͺ Pmhn® : A¾Á»P ö\»ÄPÒ 6,000
2012-13 25,000 £o¯õÍ›ß \®£Í® 7,000
2013-14 30,000 Phß «x Ámi 1,000
2014-15 32,000 Á¸©õÚ Á› 1,500
£¯nõ롧 AߣΨ¦PÒ 20,000 Á¸©õÚ Á› A£μõu® 600
»õmh›°ß ‰»® Á¸Áõ´ 24,000 ö\õzx Á› 250
öPõÒ•uÀ AhUPa ö\»Ä 5,000
C¸¨¦ R/C 2,05,650
2,51,000 2,51,000
(A) ÷u´©õÚ® ¹. 2,500 JxUP¨£h ÷Ásk®.
(B) B쮣 \μUQ¸¨¦ ¹. 1,500 ©ØÖ® CÖv \μUQ¸¨¦ ¹. 1,000
GÚ öPõÒP.
(C) A¾Á»P ö\»ÂØPõP Põøμ 60% £¯ß£kzvÚõº.
(D) Cuμ CÚ[Pμ¸¢x ö£ØÓ Á¸©õÚ® ¹. 30,000.

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