B.Com In Banking & Insurance (BCBI) Sem III 2012 2015 2015 Taxation Year Question Paper - Mumbai University | munotes

Questions asked in this paper

1. Q2 Each question carries Ganesh Shinde handicapped person ( 56 %) furnishes the following Information of his income and investment for the previous year 2011-12 15 marks
   • b) paid by the owner Interest (due but not paid) on Capital Borrowed for construction of House
   • b) Other Information:
2. Q1 He received Interest from debentures in Tata Steel Ltd. Rs.25,000
3. Q2 He dividend from UTI Rs.5,000
4. Q3 He paid premium of Rs.25,000 towards approved pension plan of LIC of India Compute the net taxable income of Mr. Ganesh Shinde for the assessment year 2012-13 Q-1Mr. Vijay proprietor of V and Co. furnishes you the following information for the year ended 31 Profit and Loss Account for the year ended 31" March, 2012 To Salary to Proprietor 24,000 | By Dividend from bank of India 8,000 To Office expenses 18,000 | By Dividend from N.K.G.S.B. Co- | 2,000 To Staff welfare 30,000 | By interest on fixed deposit with 12,000 Bank of India To Wealth tax To Provision for bad debt To Medical premium To Life insuranee premium
   • a) Depreciation as per income tax rules Rs.21,000
   • b) Medical claim premium was pald IN for his year 2012-13 Life insurance premium includes for the asses You are required to compute his tota of Mr.Sunita for the Yea Q-2 Calculate the taxable income under 2012-13 from the following fund was during the yea, to the recognized which was in excess of the amount Employer also contributed the 50 prescribed under the Rules by Rs. 5 000
5. Q3 Employer paid LIC premium of Rs
6. Q5 Salary of household employees ctricity supply Rs.1,400
7. Q6 Perquisite value of Gas, Water & E Re 10,800
8. Q7 Value of rent free accommodation le Rs.14,7 50 marks
9. Q8 Arrears of salary as per revised pay S' Q-2 For P. Y, 2011-12 Mr. Anurag provides Interest on Loan : Q-3 Mrs. Sadhana , a Technical Director of a concern given you the following information for Previous Year 2011-12. Compute her income from other sources for Assessment Year 2012-13
10. Q1 Interest on Fixed Deposit with Bank of India Rs.36,000 Net (TDS 10%)
11. Q3 Interest on Company Deposit Rs.1,500
12. Q4 Interest on Deposit in Post Office Saving Bank A/c Rs.1,250
13. Q5 Dividend received from Reliance Textile Ltd. 20,000
14. Q6 Directors Board Meeting fees Rs.200 per Meeting. During the Previous year Mrs. Sadhane attended 5 Meetings including an annual general meeting
15. Q7 Family pension received After the Death of Mrs. Sadhana Rs.2,500 per month
16. Q8 Interest on Kankan Railway Corporation Bonds ended 31" March, 2012: Provides you the following information for the year Profit and Loss Account for the year ended 31" March, 2012
17. Q1 Depreciation as per income tax rules Rs.22,000
18. Q2 Salaries Include salary to proprietor Rs.48,000 4, Printing expenses Include Rs.8,000 for printing of marriage invitation cards for his son
19. Q5 He paid tultion fees to a school of Rs.15,000 for his going school daughter
20. Q6 He Interest of Rs.45,000 on education loan taken Bank of India for his son, Pursuing post graduate degree in medicine from University of Mumbal You are required to compute his compute his total taxable income for the assessment year 2012-13 Q-4 Explain the provisions of TDS on 1] Salary 2] Interest Q-4 Explain the registration process under service tax and state general exemption

Read from the scan above, so a character or two may differ. The scan is the original.