TAX Answers To Self-Assessment Questions 121011125803

CA AIAI IAIN Ans 1o Assessment uest|ons
Se|f Assessment Questlons

Sa|ar

Q.26. etermlne the taxab|e enslon for the A/Y 2012-13 on the
assumtlon that enslon becomes due on the |ast da of
month:-
(l) X retlres from the lndlan Economlc Sertlce on August 31,
2011 and receltes - 10,000 . m. as enslon.

(ll) X retlres froms- the lndlan Admlnlstratlte Sertlce on Ma
31,2010. He gets enslon of - 19,000 .m. u to ]une 30,
2011. Wlth effect from ]u| 1,2010 he gets 30 % of hls
enslon commuted for - 3,00,000.

(lll) X retlres from PQR (P.) Ltd. ln ec 2007 and receltes -
7,000 . m. u to |eb 28, 2012 uhen he dles.

(lt) X retlres from PQR (P.) Ltd. on March 31,2011. PQR (P.)
Ltd. as - 14,000 .m. as enslon but does not a an
gratult. On the request of X, PQR (P.) Ltd. as - 2,00,000
ln |leu of commutatlon of 20 % of enslon u.e.f. |eb 1,
2012.

What ul|| be taxab|e enslon, lf X under the clrcumstances
mentloned at (lt), receltes - 71,800 as gratult a|so?

Ans. (I) Unconnulod
(31.O8.2O11 lo 1.O3.2O12) 1O,OOO X 7 = 7O,OOO
(II) Unconnulod (1-4-2O11 lo 31-3-2O12)
ApiiI lo }uno 19,OOO X 3 = 57,OOO
}uIy lo Maich 19,OOO X 7O X 9 = 1,19,7OO
1OO 1,76,7OO
Connulod IuII Lxonpl

(III) Unconnulod 11 X 7,OOO = 77,OOO

(Iv) Unconnulod 14,OOO X 1O = 1,4O,OOO
14,OOO X 8O X 2 = 22,4OO
1OO 1,62,4OO
Connulod
Slop I 2O = 2,OO,OOO
1OO = 1O,OO,OOO

Slop II (if no gialuily) 1O,OO,OOO /2 = 5,OO,OOO oxonpl

Rocoivod = 2,OO,OOO
Lxonpl = 2,OO,OOO(oxonplion canl oxcood anounl iocoivod)
TaxalIo NiI

Thoiofoio in such laxalIo ponsion shaII lo 1,62,4OO - onIy.

Slop III (if gialuily aIso) 1O,OO,OOO/3 = 33,333 oxonpl
Rocoivod = 2,OO,OOO
Lxonpl = 33,333
TaxalIo 1,66,667
In such laxalIo ponsion shaII lo 1,62,4OO + 1,66,667 = 3,29,O67 -

Q.28. omute the amount of |eate sa|ar lnc|udlb|e ln gross sa|ar
ulth fo||oulng lnformatlon:

(l) Leates a||oued eter ear 30 das
(ll) Leates taken eter ear 5 das
(lll) Tota| ears of sertlce 30 ears
(lt) Sa|ar earned on an aterage ln |ast 10 months 6,000 .m.
(t) Leate sa|ar glten for 750 das 1,50,000
(200- x 30rs x 25das)

Ans. (i) 1,5O,OOO
(ii) 3,OO,OOO
(iii) 6,OOO X 1O = 6O,OOO
Oi
6,OOO X 3OO = 6O,OOO
3O
(iv) (3O days - 5 days)25 days X 3O yoais = 75O days
75O X 6,OOO = 1,5O,OOO
3O
Rocoivod = 1,5O,OOO
Loss = 6O,OOO
9O,OOO

Q.29. a|cu|ate the amount of |eate sa|ar taxab|e ln fo||oulng case:-
(a) Leates a||oued er ear 45 das
(b) Leates taken eter ear 20 das
(c) Number of ears uorked 10 ears 11
(d) Month| Sa|ar 9,000 .m.
(e) Leate sa|ar actua|| glten for 250 das 75,000
(300- x 10 ears x 25 das)

Ans. (i) 75,OOO
(ii) 3,OO,OOO
(iii) 9,OOO X 1O = 9O,OOO
(iv) AIIovod = 3O oi 45 days vhichovoi is Ioss i.o. 3O days
Takon = 2O days
Nol lakon= 1O days x 1O yoais = 1OO days
1OO days x 9,OOO / 3O =3O,OOO
Loasl of alovo is 3O,OOO vhich shaII lo oxonpl.
AcluaI Rocoivod = 75,OOO
Loss: Lxonpl = 3O,OOO
TaxalIo 45,OOO

Q.35. omute the exemtlon of |eate sa|ar ulth fo||oulng:-

(l) Leates a||oued eter ear 25 das
(ll) Actua|| taken er ear 5 das
(lll) Number of ears uorked 10 ears
(lt) Aterage sa|ar of |ast 10 months 75,000
(t) Leate sa|ar actua|| glten 5,00,000

Ans. (i) 5,OO,OOO
(ii) 3,OO,OOO
(iii) 75,OOO X 3OO / 3O = 7,5O,OOO
(iv) 25 days - 5 days = 2O days X 1O yoais = 2OO days
2OO days X 75,OOO/3O = 5,OO,OOO
Loasl of alovo 3,OO,OOO shaII lo oxonpl.

Q.27. Mr. A retlred from R Ltd. on 1-1-2012. He recelted enslon of
5,000 - .m. But on 1-2-12, he commuted 80% of hls enslon for
-1,60,000. He a|so recelted gratult of - 15,00,000. He uorked
ulth R Ltd. for 30 ears and 7 months. Hls sa|ar on 1-1-11
uas 10,000 - .m. but lt uas lncreased to 15,000 .m. u.e.f. 1-7-
2011. He a|so recelted 10% A of baslc sa|ar.

Ans. PcnsInn
Uncnmmutcd
5,OOO X 1 = 5,OOO
5,OOO X 2O x 2 = 1,OOO x 2 = 2,OOO
1OO 7,OOO
Cnmmutcd
(i) 8O = 1,6O,OOO
1OO = 1,6O,OOO X 1OO = 2,OO,OOO
8O
(ii) 2,OO,OOO/3 = 66,667
Rocoivod = 1,6O,OOO
Loss = 66,667 93,333
1,OO,333
GratuIty
(i) 15,OO,OOO
(ii) 1O,OO,OOO
(iii) 1,95,OOO 13,OOO X 15 X3O
3O(nolo)
Rocoivod = 15,OO,OOO
Loss: Lxonpl = 1,95,OOO
13,O5,OOO
Nolo:- 1.3.2O11 lo 31.12.2O11 1O,OOO X 4 = 4O,OOO
1.3.2O11 lo 3O.6.2O11 9O,OOO X 6 = 9O,OOO
1,3O,OOO/1O
13,OOO

Q.28. Mr. A ls uorklng ulth R Ltd. slnce |ast 20 ears on a baslc
sa|ar of - 50,000 .m. He and hls em|oer both contrlbute 13%
of sa|ar to the P|. lnterest credlted durlng the ear to the P|
A/c 16% uas 48,000. He retlred at the end of the ear and
recelted 2,00,000 out of hls oun contrlbutlon and the slml|ar
amount as em|oers contrlbutlon. Tota| lnterest on both
contrlbutlons uas - 1,00,000 .

lscuss the tax treatment ln a|| 3 tes of P|.

Ans. SII
(i) LnpIoyoos conliilulion (13 of 5,OOO) = 6,5OO p.n.
(ii) LnpIoyois conliilulion = NiI
(iii) Inloiosl = NiI
Duiing }ol TaxalIo 6,5OO p.n.
On Roliiononl= IuIIy Lxonpl
URII
(i) LnpIoyoos conliilulion (13 of 5,OOO)= 6,5OO p.n.
(ii) LnpIoyois conliilulion = NiI
(iii) Inloiosl = NiI

Duiing }ol TaxalIo 6,5OO p.n.
On Roliiononl
(i) LnpIoyoos conliilulion = Nol laxalIo
(ii) LnpIoyois conliilulion = 2,OO,OOO
(iii) Inloiosl on LnpIoyoos conll = 5O,OOO TaxalIo
u/h olhoi souico
(iv) Inloiosl on LnpIoyois conll = 5O,OOO TaxalIo
u/h SaIaiy
RII
(i) LnpIoyoos conliilulion = 6,5OO p.n.
(ii) LnpIoyois conliilulion = 5OO p.n.
(iii) Inloiosl = 19,5OO
(48,OOO X 6.5)
16
Duiing }ol TaxalIo 1,O3,5OO
On Roliiononl = IuIIy Lxonpl (locauso Iofl afloi 5 yoais)

Q.29. What ul|| be our ansuer ln case of RP| lf Mr. A had uorked
ulth R |td on| for 3 ears, but lnstead of ulthdraulng from P|
he shlfted the ba|ance RP| to K Ltd? And after uorklng ulth K
|td. for 4 ears, he took the ament.

Ans. In such caso, il shaII lo assunod lhal Mi. A Iofl lho jol of R Ild
afloi (3+4) 7 yoais and lhoio foi nolhing shaII lo laxalIo.

Q.30. urlng P/Y 10-11, em|oer had created URP|. Sa|ar of
em|oee uas 20,000 .m. urlng the ear em|oer
contrlbuted 15% of sa|ar of em|oee as em|oers
contrlbutlon and credlted 26,000 lnterest 13%. But from 1-4-
11, URP| uas conterted lnto RP|. Em|oee uas not ald an
amount, rather the tota| ba|ance of URP| uas transferred to
RP|.

What ul|| be the tax treatment?

Ans. LnpIoyois conliilulion in oxcoss of 12
of saIaiy of onpIoyoi (2,4O,OOO X 3/15) 48,OOO

Inloiosl ciodilod in oxcoss of 9.5
(26,OOO/13 x 13 -9.5) 7,OOO
TolaI Anounl laxalIo in lho yoai
of liansfoi i.o. p/y 11-12 55,OOO

Q.38. Mr. A retlred on 1-6-2011 after 25 ears and 6 months sertlce.

omute lncome under head sa|ar:

(l) Baslc sa|ar 30,000 .m., A 20%
(ll) Recelted Gratult of - 8,00,000
(lll) Leate sa|ar accumu|ated durlng ]ob - 4,00,000. But he had
a|so exemted - 50,000 uhl|e retlrlng from the retlous
em|oer. Eter ear he uas a||oued 40 das |eates and
he had taken 5 das |eate er ear.
(lt) On retlrement he uas a||oued enslon of 40% of hls baslc
sa|ar. But he got 80% of hls enslon commuted on 1-1-
2012 for - 2,40,000.
(t) urlng ]ob hls em|oer created P| uhlch uas not
recognlsed b the lncome tax deartment. He recelted hls
oun contrlbutlon 80,000 , 70,000 em|oers contrlbutlon,
lnterest 13% on oun contrlbutlon 26,000 and same
lnterest on em|oers contrlbutlon.

Ans. CnmputatInn nf Incnmc undcr hcad sa!ary tn Mr. A

asic SaIaiy (3O,OOO X 2) 6O,OOO
DA (2O of 6O,OOO) 12,OOO
Loavo SaIaiy |Nolo 4j 1,5O,OOO
Ionsion |Nolo 5j 2,31,2OO
II |Nolo 2j 96,OOO
Cialuily |Nolo 1j 4,25,OOO
9,74,2OO

Nntc:-
1. Cialuily :- Nol Covoiod
(i) 8,OO,OOO
(ii) 1O,OO,OOO
(iii) 3O,OOO/3O X 25 X 15 = 3,75,OOO
Rocoivod = 8,OO,OOO
Loss = 3,75,OOO
4,25,OOO

2. II
(i) LnpIoyoos conliilulion = NiI
(ii) LnpIoyois conliilulion = 7O,OOO
(iii) Inloiosl LnpIoyois = 26,OOO
96,OOO

3. PcnsInn

Unconnulod
1.6.2O11 lo 31.12.2O11 = 7X12,OOO = 84,OOO
1.1.2O12 lo 31.3.2O12 = 12,OOOX2O/1OOX3 = 7,2OO
91,2OO
Connulod

8O- 2,4O,OOO
1OO - 2,4O,OOO / 8O X 1OO = 3,OO,OOO
3,OO,OOO / 3 = 1,OO,OOO
Rocoivod = 2,4O,OOO
Loss = 1,OO,OOO
1,4O,OOO
91,2OO
2,31,2OO
4. Lcavc 5a!ary
(i) 4,OO,OOO
(ii) 3,OO,OOO - 5O,OOO = 2,5O,OOO
(iii) 3O,OOO / 3O X 3OO = 3,OO,OOO
(iv) 3O days - 5 days = 25 days
25 yoais x25 days x3O,OOO / 3O = 6,25,OOO
Loasl of alovo 2,5O,OOO shaII lo oxonpl.

Q.31. Mr. X ls stalng ln hls ulfes house and therefore not alng
an rent to her. But hls em|oer ald hlm HRA of 2,000 .m.
Hls baslc sa|ar uas 10,000 .m. and 10% A uhlch uas not
under contract. But from 1-1-12 hls ulfe demanded rent because
he uas not cooklng ue||. Therefore he |eft her house and took
house on rent. He ald 6,000 .m. rent. a|cu|ate taxab|e HRA.

Ans. Iion 1-4-11 lo 31-12-11

TaxalIo HRA 2,OOO X 9 = 18,OOO
No Lxonplion is givon foi lhoso nonlhs duiing vhich no ionl
vas paid.

Iion 1-1-12 lo 31-3-12
(i) 2,OOO
(ii) 6,OOO - 1O of 1O,OOO = 5,OOO
(iii) 4O of 1O,OOO = 4,OOO
Rocoivod = 2,OOO
Loss = 2,OOO
NiI

TolaI TaxalIo HRA 18,OOO

Q.32. omute the exemtlon atal|ab|e u/s 10(13A) ln fo||oulng
cases:

Name of em|oee A B E
P|ace of Resldence e|hl Nolda Bomba Patna Banga|ore

Sa|ar .m. 4,000 6,000 8,000 3,000 5,000
HRA .m. 1,500 1,200 5,000 1,000 1,500
Rent ald .m. Nl| 1,000 6,000 800 400

Ans. (A) NiI

() (i) 1,2OO
(ii) 1,OOO
1O of 6,OOO = 6OO
4OO
(iii) 4O of 6,OOO =2,4OO
Loasl of alovo is 4OO. Thoiofoio - 4OO shaII lo oxonpl.

(C) (i) 5,OOO
(ii) 6,OOO
1O of 8,OOO = 8OO
5,2OO
(iii) 5O of 8,OOO = 4,OOO

Loasl of alovo is 4OOO. Thoiofoio - 4OOO shaII lo oxonpl.

(D) (i) 1,OOO
(ii) 8OO
1O of 3,OOO = 3OO
5OO
(iii) 4O of 3,OOO = 1,2OO

Loasl of alovo is 5OO. Thoiofoio - 5OO shaII lo oxonpl.

(L) (i) 1,5OO
(ii) 4OO - 5OO = NiI
(iii) 4O of 5,OOO = 2,OOO

Loasl of alovo is NiI. Thoiofoio nolhing shaII lo oxonpl.

Q.39. omute the lncome under head sa|ar ulth the fo||oulng
lnformatlon:-
[[
(l) Baslc Sa|ar 10,000 .m.
(ll) A 40% of baslc
(lll) Em|oees contrlbutlon 2,000 .m.
(lt) Transort A||ouance 1,200 .m. (sent 700 .m.)
(t) hl|dren educatlon a||ouance 150.m.each for 3 chl|dren
(Nl| sent, bache nlkamme)
(tl) onteance a||ouance 1,000 .m.(sent 600 .m.)
(tll) Trlba| Area A||ouance 900 .m.
(tlll) A||ouance for research 800 .m. (nothlng sent)
(lx) HRA 3,000 .m.(rent ald 2,500
.m. ln de|hl offlce ln gurgaon)
(x) lt comensator a||ouance 200 .m.
(xl) Tax ald on em|oment 5,000(lnc|udlng 3,000 of
ast ears)

Ans. CnmputatInn nf Incnmc undcr hcad 5a!ary

asic SaIaiy 1O,OOO
DA |4O of 1O,OOOj 4,OOO
LnpIoyoos conliilulion NiI
Tianspoil AIIovanco |1,2OO - 8OOj 4OO
ChiIdion oducalion aIIovanco
| 15O-1OO X 2 + 15O X 1j 25O
Convoyanco aIIovanco |1,OOO - 6OOj 4OO

TiilaI Aioa aIIovanco |9OO-2OOj 7OO
AIIovanco foi iosoaich 8OO
HRA |Nolo j 1,5OO
Cily conponsaloiy aIIovanco 2OO
Cioss SaIaiy 18,25O

18,25O X 12 = 2,19,OOO
Loss dod. u/s 16 = 5,OOO
2,14,OOO

Nntc:- HRA
(i) 3,OOO
(ii) 2,5OO - 1O of 1O,OOO = 1,5OO
(iii) 5O of 1O,OOO = 5,OOO
Rocoivod = 3,OOO
Loss = 1,5OO
1,5OO

Q.37. A. A]a ]aln has glten hls em|oee tuo houses, one ln e|hl
S other ln Gurgaon, NR, |RV of the house of e|hl ls 10,000
.m. uhl|e |ease rent of house ln gurgaon 18,000 .m.
Pou|atlon of gurgaon ls more than 1cr. Sa|ar of em|oee ls
1,00,000 .m.

Ans. c!hI Gurgann
15 of 1,OO,OOO = 15,OOO (i) 18,OOO p.n.
15,OOO X 12 = 1,8O,OOO (ii) 15 of 1,OO,OOO
15,OOO X 12 = 1,8O,OOO

1,8O,OOO + 1,8O,OOO = 3,6O,OOO

Q.36. Em|oer has rotlded em|oee ulth a car. The exenses of
the car are as fo||ous:-
Petro| 4,000 .m.,ar Hlre charges 10,000.m.,rlter sa|ar
8,000 .m.

(A)ar ls used on| for offlcla| urose

(B)On| for ersona| uroses

()20% for offlcla| and 80% ersona| urose


Ans.
(A) NiI
() (4,OOO + 1O,OOO + 8,OOO) 22,OOO X 12 = 2,64,OOO
(C) (1,8OO + 9OO = 2,7OO) 2,7OO X 12 = 32,4OO

Q.36. (A) What ul|| be our ansuer ln the abote case lf the car ls
ouned b the em|oee?
Ans.
(A) NiI
() (4,OOO + 8,OOO) 12,OOO X 12 = 1,44,OOO
(C) 4,OOO + 8,OOO = 12,OOO
2,4OO oi 1,8OO + 9OO = 2,7OO
(12,OOO - 2,7OO = 9,3OO) 9,3OO X 12 = 1,11,6OO

Q.40. a|cu|ate lncome under head sa|ar from the fo||oulng:-

(l) Baslc sa|ar 50,000 .m.
(ll) Em|oer gate house from 1-10-11, |RV -10,000 .m.
Realrs b em|oer 1,000.m. A rotlded rent of uhlch
uas 200.m. Em|oer charged for a|| these 300 .m.
(lll) Em|oer gate hlm |oan of - 30,000 on 1-1-2012. He
reald 10,000 - on 28-3-2011. SBl lnterest on 1-1-2012
uas 10% and on 1-4-2011 12% em|oer charged 3%.
(lt) He urchased a |ato from hls em|oer for - 6,000. The
|ato uas urchased b em|oer for - 50,000 and used
lt for 30 months.
(t) On Va|entlne a em|oer glfted f|ouers of - 7,000 and
cash of - 5,000.
(tl) Eter month em|oer rotldes free mea| on uorklng
das, cost of uhlch ls - 1,500 .m.(assume eter month 25
uorklng das).
(tll) Re-lmbursement of 19,000 for medlca| treatment of
faml| member of em|oee.
(tlll)Em|oee uent to neu tea|and on ho|ldas b buslness
c|ass fare of uhlch uas - 20,000 a|though econom c|ass
fare uas on| 5,000.

(lx) |ree educatlon uas glten to 3 chl|dren of em|oee ln the
schoo| of em|oer. |rom outslders schoo| charges 1,300
.m. uhl|e from em|oees on| 200.m. uere charged.
(x) Em|oer rotlded hlm a]ero ulth drlter, uhlch can be
used for offlce as ue|| as for home. ost of etro| uas
not born b em|oer.

Ans. Incono u/h SaIaiy

(i) asic SaIaiy (5O,OOO X 12) 6,OO,OOO
(ii) Inloiosl fioo Ioan
(3O,OOO x(12-3) X 2/12) 4,5OO
(2O,OOOx (12-3) X 1/12) 1,5OO 6,OOO
(iii) Laplop liansfoi (Nolo 1) 6,5OO
(iv) Cifls (cash 5,OOO + (7,OOO-5,OOO)IIovoi) 7,OOO
(v) VaIuo of fioo noaI
(1,5OO-25 X 5O) X 12Monlhs 3,OOO
(vi) Ro-inluisononl of nodicaI lioalnonl
(19,OOO - 15,OOO) 4,OOO
(vii) Tiip lo Nov ZoaIand (Nolo 2) 2O,OOO
(viii) Iioo oducalion (1,3OO-1,OOO-2OO)X12X3 3,6OO
(ix) VaIualion of noloi cai (9OO+9OO)X12 21,6OO
(x) Ronl fioo Acconnodalion (Nolo 3) 43,8OO
Incono u/h SaIaiy 7,1O,1OO

Nntc:-

1. W.D.V. of Iaplop liansfoi
VaIuo of Iaplop puichasod 5O,OOO
Loss Dop. 5O foi conpIolo 12 nonlhs 25,OOO
25,OOO
Loss Dop. 5O foi conpIolo 12 nonlhs 12,5OO
12,5OO
Loss anounl iocovoiod fion lho onpIoyoo 6,OOO
TolaI vaIuo 6,5OO

2. Tiip lo Nov ZoaIand shaII lo laxalIo as vhoIo no
oxonplion is givon locauso il is nol a lax vilhin India.

3. Conpulalion of saIaiy

asic saIaiy (5O,OOO X6) 3,OO,OOO
15 of saIaiy i.o. 3,OO,OOO X 15 45,OOO
Add. Ac piovidod (2OOX12) 2,4OO
47,4OO
Loss anounl iocovoiod fion onpIoyoi 3,6OO
TaxalIo RIA 43,8OO

Hnusc Prnpcrty

Q.2O
Ans. AnnuaI VaIuo (Nolo-i) NiI
Loss Inloiosl (u/s 24) (Nolo ii) 3O,OOO
Loss u/h Houso piopoily (3O,OOO)

Nolo:-
(i) Il is covoiod u/s 23(2). Honco AnnuaI VaIuo shaII lo
NiI.
(ii) Inloiosl lakon foi iopaiis is aIIovod uplo Rs. 3O,OOO.

Q.21
Ans. Cioss AnnuaI VaIuo 1,6O,OOO
Loss MunicipaI laxos (1O,OOO)
1,5O,OOO
Loss Doduclion u/s 24 (45,OOO)
Slandaid Doduclion 3O (7O,OOO)
Incono u/h Houso Iiopoily 7,5O,5OO
Q.22
Ans. Cioss AnnuaI vaIuo (Nolo i) 2,16,OOO
Loss MunicipaI laxos (36,OOO)
1,8O,OOO
Loss Doduclion u/s 24
Slandaid Dod. (54,OOO)
Inloiosl (5O,OOO)
Incono u/h Houso Iiopoily 76,OOO
Nolo:-
AcluaI ionl 2O,OOOX5= 1,OO,OOO
Oi
IRV (9O,OOOX12/5) of 12 nonlh=2,16,OOO
Whichovoi is highoi
Q.23
Ans. AnnuaI VaIuo NiI
Loss Dod. u/s 24
Inloiosl (1,5O,OOO)
Loss u/h Houso Iiopoily (1,5O,OOO)

Q.24
Ans. Cioss AnnuaI VaIuo 5,OO,OOO
Loss MunicipaI Taxos (1O,OOO)
4,9O,OOO
Loss Dod. u/s 24
Slandaid Dod. (1,47,OOO)
Inloiosl (1,8O,OOO)
TaxalIo Incono 1,63,OOO

Q.25
Ans. Lol oul
Houso I (DoIhi) Houso II (angIoio)
CAV 2,OO,OOO 5,OO,OOO
Loss MT (2O,OOO) (2,OO,OOO)
1,8O,OOO 3,OO,OOO
Loss Dod. u/s 24
Slandaid Dod. (54,OOO) (9O,OOO)
Loss Inloiosl (5O,OOO) (1,7O,OOO)
TaxalIo Incono 76,OOO Incono u/h hp 4O,OOO

5c!f nccupIcd
AV NiI NiI
Loss dod. u/s 24
Inloiosl (3O,OOO) 1,5O,OOO
Loss (3O,OOO) 1,5O,OOO

Caso- I Houso I Iol oul & Houso II soIf occupiod lhon
(76,OOO - 1,5O,OOO) i.o. Ioss u/h HI (74,OOO).

Caso II Houso I soIf occupiod & Houso II Iol oul lhon
Incono u/h HI is (4O,OOO - 3O,OOO) 1O,OOO
Assosso is lonofilod ly opling Houso I as doonod lo lo
Iol oul & Houso II as soIf- occupiod.

Q.26
Ans. Lol oul
Houso I (DoIhi) Houso II (U.S.A)
CAV 7O,OOO 1,OO,OOO
Loss MT (1O,OOO) (5,OOO)
6O,OOO 95,OOO
Loss Dod. u/s 24
Slandaid Dod. (18,OOO) (28,5OO)
Inloiosl on Ioan (1,6O,OOO) Loss Inloiosl (4O,OOO)
Loss 1,18,OOO Incono 26,5OO

5c!f nccupIcd
AV NiI NiI
Loss doduclion
Inloiosl NiI (3O,OOO)
Incono NiI Loss (3O,OOO)

Caso- I- Houso in DoIhi lo lo Iol oul & Houso in USA lo
lo soIf occupiod Ioss u/h HI (1,18,OOO + 3O,OOO)
Caso- II - Houso in DoIhi lo lo soIf occupiod & Houso in
USA lo lo Iol oul Incono u/h HI

Loss I is noio lonoficiaI.

Q.27
Ans. CAV (Nolo i) 7,2O,OOO
Loss MT (2O,OOO)
AV 7,OO,OOO
Loss slandaid Dod. 3O 2,1O,OOO
Loss Inloiosl (1,6O,OOO)
Incono 3,3O,OOO

Nolo (i)
CAV shaII lo
MV (5O,OOO X 12) 6,OO,OOO oi
IRV (6O,OOO X 12) 7,2O,OOO oi
AR (7O,OOO - 15,OOOX12) 6,6O,OOO
Whichovoi is highoi
Q.28
Ans. CAV as poi soc-23(1)(c) 1,OO,OOO
Loss MT (5,OOO)
AV 95,OOO
Loss Dod. u/s 24 28,5OO
Inloiosl (42,OOO)
Incono u/h HI 24,5OO

Q.29
Ans. Tho Ansvoi vouId ionain sano.

Q.3O
Ans. CAV (as poi soc-23(1)(a))|5,OOO X 12j 6O,OOO
Loss MT (1O,OOO)
AV 5O,OOO

Q.31
Ans. AV 5O,OOO
Loss Dod.
Slandaid Dod. 15,OOO
Inloiosl 4O,OOO
Loss u/h HI 5,OOO

Q.32
Ans. CAV 2,4O,OOO
Loss MT (3O,OOO)
2,1O,OOO
Loss Dod.
Slandaid Dod. (63,OOO)
Inloiosl (Nolo ) (1,8O,OOO)
Loss u/h HI 33,OOO

Nntc:- Inloiosl piioi lo conliaclion poiiod i.o. 1-4-O7 lo 31-3-O8.
15,OO,OOO x 1O 1,5O,OOO
Such Inloiosl aIIovalIo foi p/y 1O-11 (1,5O,OOO/5) 3O,OOO
Add. Inloiosl foi p/y 1O-11 (15,OO,OOO x 1O) 1,5O,OOO
Doduclion of Inloiosl avialIo 1,8O,OOO

Q.33
Ans. AV NiI
Loss u/h HI 1,5O,OOO

Q.34
Ans. Incono foi p/y 1O-11
CAV (5O,OOO X 12) 6,OO,OOO
Loss MT NiI
6,OO,OOO
Loss Slandaid Dod. (1,8O,OOO)
Loss inloiosl (2,OO,OOO)
Incono u/h HI 2,2O,OOO

I/Y 12-13
Ronl iocoivod (5O,OOOX8) 4,OO,OOO
u/s 25AA shaII lo laxalIo as incono u/h HI

Q.35
Ans. CAV (Nolo) 3O,OOO
Loss MT 1,OOO
29,OOO
Loss Slandaid Dod. (8,7OO)
TaxalIo foi p/y 1O-11 2O,3OO

Nntc:- CAV shaII lo
AR (3,OOO X 7) 21,OOO oi
IRV (2,5OOX12) 3O,OOO
Whichovoi is highoi
In p/y 14-15 unioaIizod ionl iocoivod i.o. (3,OOO X 5)
15,OOO shaII lo laxalIo u/h HI
Q.36
Ans. CAV |Noloj (25,OOO x 12) 3,OO,OOO
Loss MT 5,OOO
2,95,OOO
TaxalIo Incono 46,5OO
Nntc CAV shaII lo
(i) IRV (24,OOO) oi MV (2O,OOO) vhichovoi is highoi
Iinilod lo SR (23,OOO) oi
(ii) AR (25,OOO) vhichovoi is highoi

Q.37
Ans. CAV (1,OOO X 7) 7,OOO
Loss Inloiosl
(1O,OOO/5 + 5,OOO) (7,OOO)
TaxalIo Incono NiI
Q.38
Ans. CAV (1,OOO X 1O) soc-23(1)(c) 1O,OOO
Loss Dod. (3,OOO)
Loss inloiosl (7,OOO)
TaxalIo Incono NiI

Q.39
Ans. CAV (5,OOO X 12) 6O,OOO
Loss MT (7O,OOO)
AV (1O,OOO)
Loss Inloiosl (Nolo ) 4,32,OOO
Loss u/h HI 4,42,OOO

Inloiosl foi p/y O6-O7 2,4O,OOO
O7-O8 2,4O,OOO
O8-O9 2,4O,OOO
O9-1O 2,4O,OOO
9,6O,OOO
Such inloiosl alliilulalIo 4O p/y 1O-11 (9,6O,OOO/5)
1,92,OOO
Add. Inloiosl foi p/y 1O-11 2,4O,OOO
4,32,OOO
Q.4O
Ans. Thon inloiosl shaII lo iosliiclod lo 3O,OOO
i.o. Ioss u/h p (3O,OOO)
NiI
Q.41
Ans. CAV (1,OOO X 12) x 5O 6,OO,OOO
(Assuno IRV as 1,OOO)
Loss MT (2,5OO)
AV 5,97,5OO
Loss Slandaid Dod. u/s 24 (1,79,25O)
Loss Inloiosl (2,OO,OOO)
Incono u/h HI 2,18,25O

#csIdcntIa! 5tatus

Ans. 18

ROR RNOR NR
(i) 1,60,000 1,60,000 1,60,000
(ii) 15,000 7,500 7,500
(iii) - - -
(it) 30,000 - -
(t) 12,000 12,000 -
(ti) 2,00,000 2,00,000 2,00,000
(tii) 40,000 40,000
Ccn|rc||cd frcn |ndia
20,000
Rcccitcd in |ndia
(tiii) 40,000 20,000 20,000
(ix) 10,000 - -
(x) 60,000 30,000 30,000
(xi) 45,000 45,000 45,000
(xii) 50,000 - -
(xiii) 46,000 46,000 46,000
(xit) 34,000 34,000 34,000
(xt) 60,000 - -
(xti) 24,000 24,000 24,000
(xtii) 5,000 5,000 5,000
(xtiii) 20,000 20,000 20,000
(xix) 12,000 12,000 12,000
(xx) 48,000 48,000 48,000
(xxi) 10,000 10,000 10,000
(xxii) |xcnp| - -

Q.13
Ans. Ioiiod of slay
I/Y O4-O5 123 Days
I/Y O5-O6 184 Days
I/Y O6-O7 151 Days
I/Y O7-O8 275 Days
I/Y O8-O9 NiI
I/Y O9-1O 274 Days
I/Y 1O-11 153 Days
Ho is Rosidonl & Oidinaiy Rosidonl.
Nov, laxalIo Incono
(i) usinoss in India 4O,OOO
(ii) Inloiosl 2,OOO
(iii) Dividond 5,OOO
(iv) usinoss in Coinany 25,OOO
(v) Incono fion Houso Iiopoily 8,OOO
TaxalIo Incono 8O,OOO

Q.14
Ans. ROR RNOR NR
(i) 1,9O,OOO 1,9O,OOO 1,9O,OOO
(ii) 1,5O,OOO 1,5O,OOO -
(iii) 2,6O,OOO - -
(iv) 85,OOO - -
(v) 25,OOO 25,OOO 25,OOO
(vi) - - -
7,1O,OOO 3,65,OOO 2,15,OOO
Q.15
Ans.
a.Ronunoialion iocoivod in India 1,OO,OOO
l.usinoss conlioIIod fion India NiI
c. SaIaiy foi soivicos iondoiod in India 4O,OOO
d. Ioo foi lochnicaI soivicos 1,OO,OOO
o. Incono fion opoialions foi oxpoil NiI
f. Incono fion opoialions foi shooling NiI
g.Incono fion piopoily in Canada NiI
Nol laxalIo Incono 2,4O,OOO

Q.16
Ans. Ioiiod of slay
I/Y O7-O8 365 days
I/Y O6-O7 O6 days
I/Y O5-O6 17 days
I/Y 1O-11 69 days
I/Y 1O-11 ho slays foi 69 days & foi piocoding yoai ho
slays foi noio lhon 365 days lul ho doos nol fuII find any of
lho addilionaI condilion ho is a iosidonl lul nol oidinaiy
iosidonl.
Q.17
Ans. A Ild. Rosidonl
R Ild Rosidonl
Q.19
Ans. Ioiiod of slay
I/Y O4-O5 264
I/Y O5-O6 365
I/Y O6-O7 365
I/Y O7-O8 1O2
I/Y O8-O9 11O
I/Y O9-1O NiI
I/Y 1O-11 6O
Ho salisfios lasic condilion (ii) & lolh addilionaI condilions,
honco ho is a iosidonl & oidinaiy iosidonl.

Q.2O
Ans. Ho is piosonl in India foi 147 days & 497 days foi piocoding 4
p/y lul ho doos nol salisfy (ii) AddilionaI condilion. Thoio foio
ho is a iosidonl lul nol oidinaiy iosidonl.

Q.21
Ans. In p/y ho is piosonl foi 185 days. Ho fuIfiIs (i) lasic condilion ho
is iosidonl & oidinaiy iosidonl.

Q.22
Ans. Ho is RNOR sinco ho salisfios (i) lasic condilion & nono of lho
addilionaI condilion.

Q.23
Ans. olh & A aio NR foi ioIovanl p/y.

In lho hands of A - Sino lho anounl is invoslod in an India co.
vhich is a iosidonl assosso, lho dividond iocoivod ly A shaII lo
laxalIo as poi soc-9 sino loiiovoi has usod il foi ICI oi
oaiiing any incono fion any souico. ul dividond is oxonpl
u/s(1O).

In lho hands of - Tho anounl iocoivod ly is fion a NR, 'A
& lho loiiovoi 'A has usod il foi a lusinoss oi piofossion in
India, honco il shaII nol lo laxalIo in lho hands of as poi soc-9
Q.24
Ans. Mi. A is a Rosidonl
TaxalIo Incono aio
(i) Inloiosl coodiloi lo NR A/C 92,OOO
(ii) Inloiosl on fixod doposil vilh SI 2O,OOO
(iii) Inloiosl on saving A/C 4,OOO
TaxalIo Incono 1,16,OOO
Sinco his CTI doos nol oxcood oxonplion Iinil, so ho is nol
ioquiiod lo fiIo ioluin u/s 139(1). Tho ansvoi viII ionain sano
liII his incono doos nol oxcood lho oxonplion Iinil.
Q.25
Ans. Yos, lho saiIoi shaII lo iosidonl foi A/Y 2OOO-O1 (I/Y 1999-2OOO)
sinco ho ionainod on a ship foi 183 days Insido lho loiiiloiiaI
valoi. India incIudo loiiiloiiaI valoi aIso honco, ho salisfios lho
fisl lasic condilions of iosiding 182 days oi noio.

PGBP
Q.35
Ans.
a) Yos, sinco il is lho vaIuo of any poiquisilo u/s 28.
l) Yos, il is laxalIo u/h ICI as poi soc-28
c) Yos, il is laxalIo u/h ICI as poi soc-28
d) Yos, il is laxalIo u/h ICI as poi soc-28
o) No, as incono fion 'OS
f) Yos, laxalIo u/h ICI.

Q.37
Ans. Nol piofils as poi I&L A/C 76,OOO
Add: Lxponsos disaIIovod
onus paid lo onpIoyoo in of piofils 3,OOO
LnpIoyoos conliilulion lo II 2O,OOO
HousohoId oxponso 2,5OO
HoaIlh Insuianco paid in cash 15,OOO
IaniIy pIanning oxponso 8O,OOO
Donalion lo NalionaI Dofonso fund 2,5OO
Lifo Insuianco Iioniun 2,OOO
Inloiosl ion oplion 4,OOO
Iiovision foi lad & doullfuI dolls 2,OOO
Rosoivo foi pocuniaiy 2,OOO 1,53,OOO
Add: Incono nol coidilo lo I & C A/C
Rofund of socuiily 1,5OO
Loss: Incono nol laxalIo
Inloiosl on good socuiilios (8OO)
Iiocoods of LII on naluiily (4O,OOO) (4O,8OO)
Incono u/h ICI u/s 28 1,89,7OO

AgrIcu!tura! Incnmc

Q.3
Ans. Slop I
Tax on Agi. + Non Agi. Incono
i.o. on 2,OO,OOO + 5O,OOO
Tax on Iolloiy 3O 6,OOO
Uso of oxonplion Iinil
oxonplion Iinil 1,9O,OOO
Loss olhoi Incono 1,9O,OOO
(2,5O,OOO-3O,OOO-2O,OOO-1O,OOO) NiI

LTCC 2O 6,OOO
STCC u/s 111A 15 1,5OO
Tax on olhoi incono
(1,9O,OOO - 1,9O,OOO) NiI
TolaI 13,5OO

Slop II Tax on Agi. + asic Lxonplion Iinil
Tax on (5O,OOO+ 1,9O,OOO) i.o. 5,OOO

Slop III Slop I - slop II
Tax (13,5OO - 5OO) 8,5OO
Add oducalion Ioss 3 255
TolaI lax IialiIily 8,755

%nta! Incnmc

Ans. 33 CnmputatInn nf tnta! Incnmc fnr r. 5huba fnr A/Y 12-13

Incono fion SaIaiy NiI
Incono fion Houso Iiopoily |Nolo 2j (3O,OOO)
Incono fion ICI |Nolo 1j 3,26,25O
Incono fion CapilaI Cain NiI
Incono fion Olhoi souico |Nolo 3j
Lolloiy 5O,OOO
Olhoi Incono 2,81,125
3,31,125 3,31,125
Cioss TolaI Incono 6,27,375
1. Lolloiy 5O,OOO
2. Olhoi Incono(6,27,375 -5O,OOO) 5,77,375
Loss: Doduclion u/c VI-A
Soclion 8OC
(1,5O,OOO + 48,OOO) (1,OO,OOO)
Soclion 8OD
(15,OOO + 16,OOO) (31,OOO) 4,46,375
%nta! Incnmc 4,96,375

5tatcmcnt nf tax !IabI!Ity

Slop I. Tax on Iolloiy (5O,OOO X 3O) 15,OOO
Tax on AgiicuIluio + Non AgiicuIluio Incono
(4,46,375 + 1,OO,OOO) 41,275
TolaI incono 56,275

Slop II. Tax on AgiicuIluio Incono + asic Lxonplion Linil
(1,OO,OOO + 1,8O,OOO) 1O,OOO
1O,OOO

Slop III TolaI lax payalIo (56,275 - 1O,OOO) 46,275
Add Loss 3 1,388
TolaI Tax 47,663
Loss Advanco Tax 2O,OOO
Loss TDS 15,OOO
TolaI lax LialiIily 12,663
Roundod off 12,66O
Nntc :-
1. Incono fion ICI
Rocoipl fion saIo of Modicino 2,5O,OOO
ConsuIlalion foo 5O,OOO
Visiling Ioo 2,OO,OOO
5,OO,OOO
Loss:- Dopiocialion on connoiciaI vohicIo|Nolo4j (45,OOO)
Inloiosl on Ioan foi connoiciaI vohicIo (16,75O)
Inloiosl on houso usod foi cIinicaI puiposos
(6O,OOO X ) (15,OOO)
Iuichaso of ModicaI }ouinaI |Nolo 6j ( 5,OOO)
Dopiocialion on suigicaI Insliunonl (7,5OO)
Iuichaso of ModicaI (4,7OO)
VohicIo Lxponsos (5O,OOO X ) (37,5OO)
3,26,25O
2. Incono fion Houso Iiopoily
AnnuaI VaIuo NiI
Loss: Doduclion u/s 24
Inloiosl (6,OO,OOO X1O/1OO X 3/4) (3O,OOO)
(ul iosliiclod lo 3O,OOO)
Loss u/h Houso Iiopoily (3O,OOO)
3.Incono fion Olhoi souicos
Lolloiy (35,OOO X 1OO/7O) 5O,OOO
Locluiois 5,OOO
IaniIy Ionsion 2,8O,OOO
Loss Doduclion (15,OOO) 2,65,OOO
Saving ank Inloiosl 1,OOO
Inloiosl (1,5O,OOO X 9 X9/12) 1O,125
Incono u/h olhoi Souicos 3,31,125
4. Dopiocialion
VohicIo 4,OO,OOO
Dopiocialion 15 6O,OOO
Loss : Usod foi poisonaI uso (15,OOO)
Dopiocialion 45,OOO

5. ModicaI }ouinaI aio assunod lo lo AnnuaI IulIicalion
honco, 1OO doduclion is aIIovod.

6. Shaio fion HUI shaII nol lo laxalIo anyvhoio.

Ans.34 CnmputatInn nf taxab!c Incnmc nf Mr. Incsh fnr A/Y 12-13
Incono fion SaIaiy
Incono fion Houso Iiopoily (Nolo 2) 52,5OO
Incono fion ICI (Nolo 1) 8,53,25O
Incono fion olhoi Souicos 1,34,OOO
Cioss TolaI Incono 1O,39,75O
Loss:- Doduclion u/s VI-A
Soclion 8OCCC 7O,OOO
Soclion 8OD 2O,OOO (9O,OOO)
TolaI Incono 9,49,75O

s CnmputatInn nf tax !IabI!Ity nf Mr. Incsh(105 Ycars)

Tax on 1,49,75O (9,49,75O - 8,OO,OOO) 3O = 44,925
Tax on 2,OO,OOO (8,OO,OOO- 5,OO,OOO) 2O = 4O,OOO
Tax on 5,OO,OOO = NiI
84,925
Add: Lducalion Coss 2 1,699
SHLC 1 849
TolaI Tax LialiIily 87,473
Roundod off 87,47O
Nntc:-
1. ICI
Nol Iiofils as poi I&L A/C 4,32,OOO
Add Lxponsos nol aIIovod as doduclion
Dop. On Cai (3,OO,OOO - 36,OOO) 2,64,OOO
Cai Lxponsos (5O,OOO X 1/5) 1O,OOO
Dop. On Machinoiy 1,25,OOO
Advanco lax 7O,OOO
onus paid on 11.2.2O11 15,OOO 4,84,OOO
9,16,OOO
Loss:- Dop. On Machinoiy |Nolo j (2,63,75O)
Inloiosl on lank (45,OOO)
AgiicuIluiaI Incono (6O,OOO)
Ionsion fion LIC }oovandhaia (24,OOO) (3,92,75O)
5,23,25O
Add. Inloiosl fion pailnoiship fiin (onIy 12) 2,4O,OOO
SaIaiy fion pailnoiship fiin 9O,OOO
Incono u/h ICI 8,53,25O
2. Incono u/h houso piopoily
Assoss of ionl 75,OOO
Loss Doduclion u/s 24 (3O) (22,5OO) 52,5OO
3. Incono fion olhoi souicos
ank Inloiosl 5O,OOO
Ionsion fion LIC }oovandhaia 24,OOO
Incono fion pionaluio vilhdiavaI 6O,OOO 1,34,OOO
4. CaIcuIalion of Dopiocialion aIIovod
Cai (3,OO,OOO X 15 X4/5) 36,OOO
Machinoiy op. WDV 6,5O,OOO
Add. Iuichasod Duiing lho yoai 6,25,OOO 12,75,OOO

Dopiocialion (6,5O,OOO X 15) 97,5OO
(3,25,OOO X 35) 1,13,75O
(3,OO,OOO X 17.5) 52,5OO
Dopiocialion AIIovalIo 2,63,75O

CapIta! gaIn

Ans.31 Fnr thc sc!!crs, #aj Kumar
SaIos considoialion (Nolo ) 3,2OO,OOO
Loss ICOA (5,19,OOO X 785/519) 7,85,OOO
Loss ICOI (14,OO,OOO X 785/582) (18,88,316)
Long loin capilaI gain 5,26,684
Fnr thc purchascs, Mr. huruv
His cosl of Acquisilion shaII lo liadod as onIy 25,OO,OOO. No
falhoi lax lioalnonl.
(i) As poi soc 5OC considoialion of 32,OO,OOO viII lo lakon

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