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

SYBBI Sem III. Taxation.year 2014 15.pdf
SEM III · 2012-2015 · 1.1 MB · 26 Jan 2026

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  1. Q13 Match the following columns 5 marks
    • i)Wealth Tax 10 Dividend from India company Business it) Interest on housing loan taken Assets The income earned Rs.10.1000 in U.S.A by Resident India is not in Salary received to MP or MLA is taxable under income from means a per vit liable to pays Tax on his Income: 6 received trom Employer to is taxable Income from salary Standard deduction is 30% on NAY
    • A)Mr. Sumit is owner of S & Co. furnish you the following information for the year ended 31" March Profit & Loss tor the year ended Convevance | By Dividend from companies Interest on loan By Gilt from 31.000 Interest on Owner capital | Dividend trom Co-operative Banh 10.000 Not profit 9.60 OOO it tax rule Rs hice Dep ay per ta has Income from business & OR (1S, (House No 2 was vacant for two month)
  2. Q3 Municipal | NIL Paid by owner Paid by tenant 12.500 (Both loans on Bhavesh Is employed with Mumbai printers. He gives you the Information for the ye nded March (Is Perquisite value OF subsidized meal Workspace Calculate Income from Salary expenses cost ut on tay Market al the | Was thie Phe of inflation Index foy sear 1981.87 poy year js & fos You are required to the taxable Capital for Gd citizen of USA has been in India since He leaves India Vist to USA and returns on 4 January Determine his residential status for Ine previous By Mr. Nitin has the following income during the sear ended 31 March 2014 Interest on Bank Account in USA Interest on Bank Account in India trom House property in India Income trom House Property in Rome 10.000 Income from House Property inSrilanka from british received in India Income earned & ed IN London 13.006 Amount brought in India out ot Past profit 20,000 Compute his total income for the essment vear that He is resident Kordinarily resident
  3. Q2 He ts resident but ordinarily resident
  4. Q3 He is Short notes.(Any 3) (15) Meva exemption under service tax

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