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37524/8504

V Semcster B.B.A. 3 Dcgree Examination, March '2022

BIISINtrSS TAK{IION
(Regul.r)

Insltrctio s to Car.Iiddtes: i- Calcutotus arc a oved.

ii. Sho th.ao ittg rotcs.

iii. ?att'D'isconqulsor!.

PART -A
(10.2=20)
I Ansler any Ten Eadr ca ies fwo narks
l) what is DirecL rax:
2) what isAssessmcnt Year ?
rr Mcntion ant 4 Ta\ Aec incomes
+j wr,"r i, i".o'," r Give a' cxmple
",*ot
5l What is PerquGile ?
6) Menion the deducLio s allo\tablc u/s 16
7l WhaL is Sub _ Lctring ?
s'urces
Sj S$te any '1 incomes coning und$ inconrc lrom orhcr
9) Whal is GST 1
l0) What is Buines ?
ll) Whar is capital Clin ?
12) What is unrealhcd Rcnt ?
PART I}
s (tr5:20)
It. Ansrver aN Foui lach casies l'ive nu
rl, M. ion Lhe urcs rnd cdunlcgc\ ol C\T'
i.
iii L, ii,: ,,i,'-t.o '. . " '"" , ", s- rc.- dRr " 0'^1 g3ur
'-'""i""r""1ti""i;r".,ruirya;tl9?:Hisnonihlrsalhr-o!Li'daLcidmcdiatclt
'.",,
'1\rbl' r ralrilr A
p,*oi.g',r," ;"" o;t*;"nt $ as 6 240 comput' h rs ror ihs

-
.l 2o2t- 2022.
tumished bclos !onrpirtc the r1\rbjc an{l r\o n(tl
llousc
lrom lhc inionnation
rcnL allowancc ol lhc bllowinS a$$$s
br the Prcviof! ted endiig 3l' 1'

6.00,000
l.00.ir0n
D. .[En1es Rctnemcnt Borcl]l] 2,00.000
1.60.000 80.!04)
,^ctoal H.R.A €ceiled
80.000
Actual ltcnt paid (P* anndn) 72.Q40

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l6) (on'put.Arrrl\"irc trun rh! to orring ntorn-tio,.

Munclpal\alue 40.000 '15,000
. 42,000 Sranddrd Renl : 36.000
Unrcalised Renl : 1,000 MuncipalTax : l0% ofM.v (Muncipalvalue)
t7) From the lollolving Recilrs & PaymenrsaccolnrofMishankdwho is an enpineer
ard archihc! and an approved valuer, compute Incomc f.on profesio;

stalt salary.
7,000 I rn ooo
2.000 6.500
,r0.000
25.000
],000 Pcriod icnh (cng inee.ing) 500
80.000
4.00.000
2,20,000
10.500 1,00,000
2.160 ,1,000
4,(6,000 4,66,000

. Cills from lhc ctienls in kind IG i.000.

. Dcprecialion as pre I - r rutcs t{s 15.000.
I8) Writc a note ou capital Cain.
tAl{T c
lll, A.si!$.ny Three. tuch canies Ten nrrts (3:r0=30)
l9) Thc lollowinsarelhc inconcs otshrj.\.anaykumar ibr lle previous
led2020,202I.
Conlurc Cros Torallncomc ifhe is
a) Residcrt b)
Not ordnurily R€sjdcnr c)
Non_Residenr.
i) Incore lromAg.icutturc Ncpat :40,000
ii) Salary rcccivcd in lDdia for rhe Scrvices vcndered in Dubai I 20 onn
r
ii . , ,c.,rTcd Jnd re.(,r.d .n J..t )u.' 0n
" ,
iv) Profih non Businc$ in mumbai conrrollcd liom Dethi. : 20 000
\l i
lncotre tror. ABrtrLt Lrc U.|JC. vi . r.000
vi) incomc ftom uouse propcny in cdrad! reccivcd in Englatul , 10,000
vii) ltolits fion businc$ in Nepal, Dusincss in bcing conrro ed from lndia :
15.000
viii) Royalq rec.ivcd fron a nining company h hosper : 25.000
ix) D;vidcnd rec.ircd fron tArA mo(o,s lis l5.()(]0
x) lroin iion sale oi iluijding iD rratJ- lt/z is rcceived in lndial20,000
xi) Dividcnd ftoD CemanConpdnl rcccived nr London 10.000
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20) Flom follo*ing detaih oflncone tumished

Lhe b), Mr\ishcsh compute his income
'om ihD io hcA Y2021 202,
. B.sic salary Rs 20.000 pe. nonlh.
. Dcmess allowmce Rs 5,000 p.n- {considered lor ielirenenl benefit)
. Bonus equ.lto I nonlh sBasicsalary.
. i.l€ is provided with a house in Be.galm (population morc tho 25 lac) owned
by companl The cosl of turniture amounted to Rs 10.000-
, Emploler coDlribuion to R.Pf h ar 15% saldf.
. TIc cmployer€neaaed a sreeper al a sdary ofRs 500 per ntondt.
. Mr.Mshesh hrs plid Rs 4.000 as profesion Tax.
2l) Mrvaibhav istheorherofa house lconsisting oi2 cqualunits] themucipal value
ollhc house is Rr 30.000. The ti unit is a SOP..d 2'runil is a LOf // unil
is let out on a rent ofRs 2,000 pcr month thc ibllorving are lhe expenses
Repai6 to House.
. Mu.cipal Taxes Rs 4,000
. Rcpa ns & Col lection charges : 500
. Inlerest on lo.n laken lor conslruction :3.000
Compule Inconrc from House p.opedy lb. the,^ - Y 2021 - 2022.
22) lroDr lhe follo*ing proiit & Loss accounl ofMiss :patel.nd infom.rion -qiven
b€low conrpulc her incone fron Business for lhe assessmenr ycar z02l - 2022
1.28,000.
3,000 Ily llent from housc propcrly 12.000.
2.000 tsy lnteresr on post on Post officc
2,000 1.000
1,000 By Intcrcst on debenlu.es t,000
2,000 By Dividcnd ftom Indirn companl 5,000

3,000

2,000
6.000
4.000
500
1,500
To.llouschold expenses 11,000
To.holision for bad dcbts 2,000
1.000
1.000

I,l?,000 l,J7!000

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 (4) 375241E504
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Addnionrl iomstion:
In
,' I . car e\bse\ a u rc''red oPssond '\c
!
i, oeu..ia"on "'ro""orc ,' per l I
rules Rs 000
.' c"i","i**** Rs i 000 berng Ddndion lJid.
2:ll Write a notc on tax ftce '"oe
'
tncones
PART - D (Conpubory)
c,se-Let (r'10=I0)

2O Bharal and Ldxman arc partne6 in a nnn slaring p'ofits & Losses in the iatio of
ili-;]il ;.""',.-i;;;"s.ro hvrai n;n' u" \ine paan{ t he ap: Jr
,:,;;;;"1,;" ;.(d .rd rbdon'e oitu s0 000 or I4'2020
i.1l""'.e' ,* ra' ..ollc rm ror he cdtr-r'i-e1 -l ?n:r
1.50,000
36,000
By Rent fron llouse ProPenY 18.000

:18.000 Bl dividend ftod Indian compdy i2,000

'L.Comnission lo Painc6
7.000
8,000 15.000

8.000
8,000 16,000
12,000
3.000
8,000

21,000
21.000 42 000
r,80,000
!,d0,000
Iadiiom L ln lonnrri"n
1) MunciPal taxcs Paid claLes 10
2) Dcprecialion allo\rablc N Pcr I'r rulcs Rs 10,000.