Ws 1

APRIL 2014 60511/BYA5C

Time : Three hours Maximum : 75 marks

SECTION A — (10 × 2 = 20 marks)
Answer any TEN questions each in 30 words.
All questions carry equal marks.
1. Define – Assessee.
©v¨¥mkUS›¯Áº – Áøµ¯Ö.
2. What is income?
Á¸©õÚ® Gߣx GßÚ?
3. When an individual to become an ordinary Resident?
J¸ uÛ|£º G¨ö£õÊx \õuõµn Si²›ø© ö£ØÓÁµõP BP•i²®?
4. What do you mean by Foreign Income?
öÁÎ|õmk Á¸©õÚ® £ØÔ }º AÔÁx GßÚ?
5. What are provident funds?
÷\© |» {v Gߣx GßÚ?
6. What is meant by perquisites?
÷©À Buõ¯® Gߣx GßÚ?
7. What is Gratuity?
£oUöPõøh GßÓõÀ GßÚ?
8. What do you mean by municipal tax?
|Pµõm] Á› £ØÔ }º AÔÁx GßÚ?
9. Define – Business.
¯õ£õµ® – Áøµ¯Ö.
10. What is capital assets?
‰»uÚa ö\õzxUPÒ GßÓõÀ GßÚ?
11. What is Permanent Account Number?
{Ó¢uµ øÁ¨¦ Gs GßÓõÀ GßÚ?
12. What is C.B.D.T?
©zv¯ ÷|µi Á› Áõ›¯® GßÓõÀ GßÚ?
 Ws 1

SECTION B — (5 × 5 = 25 marks)

Answer any FIVE questions.

All questions carry equal marks.

13. Explain the agricultural Income.
ÂÁ\õ¯ Á¸©õÚ® – ÂÁ›.
14. Write a note on ‘Best judgement assessment’.
‘]Ó¢u wº¨¦ ©v¨¥k’ – SÔ¨¦ GÊxP.
15. Mr. Prabu went to Germany for diploma course on 5th August
2012 and came back to India on 25th February 2013. His family
(wife and children) remained in India. He had never been out of
India before. What is his residential status for the year ending
on 31st March 2013?
v¸. ¤µ¦ GߣÁº BPìm 5, 2012 AßÖ i¨Í÷©õ £i¨¤ØPõP
öáº©Û ö\ßÓõº. ¤ÓS AÁº ¤¨µÁ› 25, 2013 AßÖ C¢v¯õ
Á¢uøh¢uõº. AÁ¸øh¯ Sk®£® (©øÚ ©ØÖ® SÇ¢øuPÒ)
C¢v¯õÂÀ uõß C¸UQÓõºPÒ. AÁº CuØS •ß¦ C¢v¯õøÁ
Âmk öÁÎ÷¯ ö\ßÓx CÀø». Bsk •iÂÀ ©õºa 31, 2013.
AßÖ AÁ¸øh¯ Si²›ø© {ø»ø©ø¯ PõsP.
16. Mr. Ravinder is in receipt of annual salary of .2,00,000. He is
provided with a furnished accommodation at Gurgaon
(Population is 11 lakhs) for which his employer pays a rent of
.4,000 p.m. and deducts .1,000 p.m. for employee’s salary.
The cost of furnishing of the residence amounts of .30,000.
Calculate the value of perquisite if house is occupied for
9 months only.
v¸. µÃ¢uº GߣÁº Á¸h® \®£Í©õP .2,00,000 ö£ØÓõº.
AÁ¸US PºSÁõÛÀ (©UPÒ öuõøP 11 »m\®) AøÓP»ß EÒÍ
Si°¸¨¦ öPõkUP¨£mhvÀ AuØPõÚ ÁõhøP ©õu® .4,000 –
ø¯ AÁ¸øh¯ •u»õÎ ö\¾zvÚõº ©ØÖ® öuõÈ»õÎ
\®£Ízv¼¸¢x ©õu® .1,000 ¤izu® ö\´¯¨£mhx. ÃmiÀ
EÒÍ AøÓP»Ûß AhUPÂø» .30,000. Ãk 9 ©õu[PÒ ©mk®
E£÷¯õP¨£kzu¨£k® £m\zvÀ ÷©À Buõ¯zvß ©v¨ø£U PõsP.
17. MRV of the residential house is .24,000 and actual rent is
.2,500 p.m. During the previous year 2012–2013 house was
vacant for two months. The municipal Taxes are @ 10% of
M.R.V. During the year owner paid .30,000 as arrears of
municipal taxes. Interest on loan taken for the construction of
house payable to his employer is .16,000. Compute income
from house property.
2 60511/BYA5C
 Ws 1

Á]US® Ãmiß |Pµõm] ÁõhøP ©v¨¦ .24,000 ©ØÖ® \õuõµn

ÁõhøP ©õu® .2,500. •¢øu¯ Bsk 2012–13 À Ãk Cµsk
©õu[PÒ Põ¼¯õP C¸¢ux. |Pµõm] ÁõhøP ©v¨¤À, |Pµõm] Á›
10% BS®. |h¨¦ BsiÀ |Pµõm] Á› {¾øÁ .30,000 – I
•u»õÎ ö\¾zvÚõº. Ãk PmkÁuØPõP Áõ[Q¯ Phß «uõÚ Ámi
ö\¾zv¯x .16,000. Ãmka ö\õzv¼¸¢x Á¸©õÚzøu PõsP.

18. Following is the profit and loss account of Mr.Arun for the
previous year 2012-13.

Profit and Loss Account

. .
To salaries 25,650 By Cross Profit 80,000
To Rent 1,000 By Bank interest 450
To Commission on sales 100 By Bad debts 2,000
recovered (last year
allowed
To Income Tax 2,600 By Rent from house 4,800
property
To Entertainment expenses 600 By Interest on 2,000
commercial securities
To Commission paid to 25
collect interest on securities
To Embezzlement by 1,000
cashier
To Municipal tax of H.P. 600
To Bad Debts (allowed) 450
To Repairs to house 1,625
To Office Expenses 9,180
To Depreciation 5,000
To L.I.C. Premium 1,320
To Net profit 40,100
89,250 89,250

Depreciation on the assets is .4,500.

Compute the taxable business income for the assessment
year 2013-2014.

3 60511/BYA5C
 Ws 1

v¸. A¸oß, •¢øu¯ Bsk 2012–13 –UPõÚ »õ£ ©ØÖ© |mh

PnUS öPõkUP¨£mkÒÍx.

C»õ£ ©ØÖ® |mh PnUS

. .
\®£Í[PÒ 25,650 ö©õzu »õ£® 80,000
ÁõhøP 1,000 Á[Q Ámi 450
ÂØ£øÚ «uõÚ PÈÄ 100 ÁµõU Phß ö£ØÓx 2,000
(Ph¢u Bsk
AÝ©vzux)
Á¸©õÚ Á› 2,600 Ãmka ö\õzv¼¸¢x 4,800
ÁõhøP
ö£õÊx ÷£õUS ö\»ÄPÒ 600 ÁoP ¤øn¯[PÒ 2,000
«uõÚ Ámi
¤øn¯[PÒ «uõÚ Ámi 25
Á`¼¨£uØPõP ö\¾zv¯
PÈÄ
Põ\õͺ øP¯õhÀ 1,000
Ãmka ö\õzvØPõÚ |Pµõm] 600
Á›
ÁµõU Phß (AÝ©vzux) 450
ÃmiØPõÚ £Êx£õº¨¦ 1,625
A¾Á»P ö\»ÄPÒ 9,180
÷u´©õÚ® 5,000
B²Ò Põ¨¥mk ¤ŸÈ¯® 1,320
{Pµ »õ£® 40,100
89,250 89,250

ö\õzxUPÒ «uõÚ ÷u´©õÚ® .4,500.

Á›Âv¨£õsk 2013–2014 –UPõÚ Â¯õ£õµ Á¸©õÚzøuU PõsP.

19. Following are the incomes of Sri. Amarnath for the financial
year 2012-2013.
.
(a) Interest on saving Bank deposit in Allahabad Bank 1,200
Delhi
(b) Income from agriculture in Africa invested in Nepal 10,000
(c) Dividend received in UK from an American company, a 10,000
part of which Rs.2,000 remitted to India

4 60511/BYA5C
 Ws 1

(d) Pension received in Belgium for services rendered in 20,000

India with a limited company

You are required to compute his gross total income for the
assessment year 2013-2014 if he is a
(i) Resident.
(ii) not ordinarily resident.
(iii) Non–Resident.
{v°¯À Bsk 2012–13 UPõÚ v¸. A©º|õzvß Á¸©õÚ®
¤ßÁ¸©õÖ.
.
(A) A»Põ£õz Á[Q, öhÀ¼–°À ÷\ª¨¦ Á[Q øÁ¨¦–ÂÀ 1,200
C¸¢x Ámi
(B) B¨¤›UPõÂÀ C¸¢x Qøhzu ÂÁ\õ¯ Á¸©õÚzøu 10,000
÷|£õÎÀ •u½k ö\´¯¨£mhx
(C) C[Q»õ¢vÀ EÒÍ Aö©›UP {ÖÁÚzv¼¸¢x 10,000
ö£Ó¨£mh £[Põuõ¯® AvÀ ¹.2,000 C¢v¯õÂØS
Aݨ£¨£mhx
(D) C¢v¯õÂÀ EÒÍ J¸ ö£õxzxøÓ {ÖÁÚzvØPõP 20,000
£o¯õØÔ¯uØS ö£Àâ¯zvÀ ö£ØÓ K´Åv¯®
©v¨¥mk BshõÚ 2013—2014 US CÁµx Jmk ö©õzu
Á¸©õÚzøu ¤ßÁ¸® {ø»PÎÀ PnUQhÄ®.
(i) Si²›ø©²øh¯Áº.
(ii) \õuõµn Si²›ø©¯ØÓÁº ©ØÖ®
(iii) Si²›ø© AØÓÁº.
SECTION C — (3 × 10 = 30 marks)
Answer any THREE questions.
All questions carry equal marks.
20. Explain the exempled income U/S 10.
¤›Ä 10–ß RÌ Á›Â»UQØPõÚ Á¸©õÚzøu ÂÍUSP.
21. Discuss the powers and functions of Commissioner of Income
Tax.
Á¸©õÚ Á› Bøn¯›ß AvPõµ[PÒ ©ØÖ® £oPøÍ ÂÁõv.
22. From the following information, compute the taxable income
under the head salaries of Sri Raman, who is working as a
driver in a transport company.
(a) Salary 8,000 p.m.
(b) Arrears of salary 4,000
(c) D.A. 2,000 p.m.
5 60511/BYA5C
 Ws 1

(d) Employer is paying insurance premium of 10,000 p.a. on

Raman’s life.
(e) Bonus received 15,000
(f) Education allowance for grand child 400 p.m.
(g) Cash gift 10,000
(h) City Compensatory allowance 1,000 p.m.
(i) Medical expenses paid by employer 6,000
(j) He contributes 15% of his salary to a recognized provident
fund and his employer contributes the same.
(k) He is given lunch allowance @ 100 per day for 250 days
during the previous year 2012-13.
(l) He is provided with a mobile, bill of which is paid by
company 6,000.
v¸. µõ©ß ÷£õUSÁµzx {ÖÁÚzvÀ Kmk|µõP £o ¦›QÓõº.
RÌUPõq® uPÁÀPμ¸¢x, \®£Í Á¸©õÚzvß RÌ
Á¸©õÚzvØPõÚ Á›ø¯U PõsP.
(A) \®£Í® ©õu® 8,000
(B) \®£Í {¾øÁ 4,000
(C) APÂø»¨£i ©õu® 2,000
(D) µõ©Ûß B²ÒUS AÁ¸øh¯ •u»õÎ Põ¨¥mk ¤›ª¯©õP
Á¸hzvØS 10,000 ö\¾zxQÓõº.
(E) ö£ØÓ ÷£õÚì 15,000
(F) ÷£µUSÇ¢øuPÐUPõÚ PÀ¨ £i ©õu® 400
(G) öµõUP öÁS©v 10,000
(H) |Pµ Dmk £i ©õu® 1,000
(I) •u»õÎ ö\¾zv¯ ©¸zxÁ ö\»ÄPÒ 6,000
(J) µõ©ß AÁ¸øh \®£ÍzvÀ 15% ÷\©|»{vUS £[PÎUQÓõº
©ØÖ® AÁ¸øh¯ •u»õβ® \© AÍÄ ö\¾zxQÓõº.
(K) •¢øu¯ Bsk 2012–13 –À AÁ¸US ©v¯ EnÄ £i¯õP
J¸ |õÒ JßÖUS 100 Ãu®, 250 |õmPÐUS
öPõkUP¨£mhx.
(JÍ) AÁ¸US Aø»÷£] öPõkUP¨£mhx, AuØPõÚ Pmhnzøu
6,000I {ÖÁÚ® ö\¾zvÂmhx.

6 60511/BYA5C
 Ws 1

23. Compute income from House property from the particulars given
below for the assessment year 2013-14.

Municipal rental value 24,000 p.a.

Actual Rent received 30,000 p.a.
Municipal Taxes 2,400 p.a.
Data of Completion 31.3.2009
Data of letting 1.4.2009
Fire insurance premium (due) 400 p.a.
Ground rent (due) 600 p.a.
Interest an loan taken to constant the house
2006-07 to 2011-12 @ 15,000 p.a. 2012–13 .10,000
Interest un delayed payment of Interest 1,000
RÌUPõq® uPÁÀPμ¸¢x Á›Âv¨£õsk 2013&14 UPõÚ Ãmka
ö\õzv¼¸¢x Á¸©õÚzøu PõsP.
.
|Pµõm] ÁõhøP ©v¨¦ 24,000 (Á¸h®)
ÁõhøP ö£ØÓx 30,000 (Á¸h®)
|Pµõm] Á› 2,400 (Á¸h®)
•iUP¨£mh ÷uv 31.03.2009
ÁõhøPUS Âh¨£mh ÷uv 1.04.2009
ö|¸¨¦U Põ¨¥mk ¤Ÿª¯® (öPõk£h ÷Ási¯x) 400 (Á¸h®)
{» ÁõhøP (öPõk£h ÷Ási¯x) 600 (Á¸h®)
Ãk PmkÁuØS Gkzu Phß «uõÚ Ámi 2006&07 to
2011&12 @ .15,000 Á¸h® 2012&13 .10,000
uõ©u©õP Ámi ö\¾zv¯uØPõÚ Ámi 1,000

24. From the following statement, compute the income from

profession of Dr. S.K. Samy if accounts are maintained on
mercantile system :
Rs. Rs.
To Dispensary rent 36,000 By visiting fees 45,000
To Electricity and water charges 6,000 By Consultation fees 1,25,000
To Telephone expenses 6,000 By Sales of medicines 72,000
To Salary to nurse and compounder 36,000 By Dividends 5,000
To Depreciation on surgical equipment 6,000
To Purchase of medicines 36,000

7 60511/BYA5C
 Ws 1

Rs. Rs.
To Depreciation on X-ray machine 4,000
To Income tax 5,500
To Donation to Rama Krishna mission 4,000
To Motor car expenses 9,600
To Depreciation on Car 4,800
To Net income 93,100
2,47,000 2,47,000
Additional information :
(a) Electricity and water charges include domestic bill of
.2,500.
(b) Half of motor car expenses are for professional use.
(c) Telephone expenses include 40% for personal use.
(d) Opening stock of medicines was .6,000 and closing stock
was .4,000.
RÌUPõq® uPÁÀPμ¸¢x Dr. K. \õª°ß öuõÈÀ Á¸©õÚzøuU
PõsP. ¯õ£õµ •øÓ°À PnUS øP¯õͨ£kQÓx.
. .
©¸¢uP ÁõhøP £õºøÁU Pmhn®
36,000 45,000
ªß\õµ® ©ØÖ® uspº Pmhn® 6,000 ©¸zxÁ Pmhn® 1,25,000
öuõø»÷£] Pmhn® 6,000 ©¸¢x ÂØ£øÚ 72,000
ö\¼¯º ©ØÖ® P®£Äshº&UPõÚ \®£Í® 36,000 £[Põuõ¯® 5,000
B¨£÷µåß P¸ÂPÐUPõÚ ÷u´©õÚ® 6,000
©¸¢xPÒ öPõÒ•uÀ ö\´ux 36,000
X-ray C¯¢vµ® «uõÚ ÷u´©õÚ® 4,000
Á¸©õÚ Á› 5,500
µõ©Q¸èn ªåß&US AÎzu |ßöPõøh 4,000
÷©õmhõº Põº ö\»ÄPÒ 9,600
Põº&UPõÚ ÷u´©õÚ® 4,800
{Pµ Á¸©õÚ® 93,100
2,47,000 2,47,000
Cuµ uPÁÀPÒ :
(A) ªß ©ØÖ® uspº Pmhn® EÒPmhnzvÀ Ah[Q¯x
.2,500
(B) ÷©õmhõº Põº ö\»ÄPÎÀ £õv öuõȾUPõÚ E£÷¯õP®
BS®.
(C) öuõø»÷£] ö\»ÄPÎÀ 40% ö\õ¢u E£÷¯õP® BS®.
(D) ©¸¢vß Bµ®£ \µUQ¸¨¦ .6,000 ©ØÖ® CÖv \µUQ¸¨¦
.4,000 BS®.
—————————

8 60511/BYA5C