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

Questions asked in this paper

1. Q1 Interest on Fixed deposit with bank received in India 10,000
2. Q2 Income from House property in India 15,000
3. Q3 Income from Business in Singapore control from India 50,000 4, Income from business in India but received in France 1,00,000
4. Q5 Dividend from American company received in India 22,000
5. Q6 Interest on Bank account in France 25,000
6. Q7 Salary earned and received in France 1,50,000
   • b] From the following details calculate income from House Property for the P.Y. 2012-13 Interest on Loan > for repair renovation 12,000 > for Son’s Marriage Q - 2 Mr. Kedar Patwardhan owns two house properties. Following are the details regarding these houses for the year ended 31-03-2013. (15)
7. Q3 Loan from ICICI Bank of Rs.15,00,000 for acquiring the house property in
8. Q4 Interest paid on the above loan Rs.1,80,000 for the year
9. Q5 Repayment of principal amount on housing loan during the year Rs.30,000
10. Q5 Interest paid on loan for construction of house property Rs.40,000 &
    • C. His other income was as follows: Interest on public provident fund Rs.6,000
    • D. Mr. Patwardhan is physically handicapped (upto 80%) Compute the net taxable income of Mr. Patwardhan for the assessment year 2013-14 2 Mr. Vijay proprietor of V and Co. furnishes you the following information for the year Profit and Loss Account for the year ended 31" March, 2013 To Salary to Proprietor 24,000 | By Dividend from bank of 8,000 To Office expenses 18,000 | By Dividend from 2,000
    • N.K.G.S.B. Co-operative To well Bank Ltd 30,000 | By interest on fixed deposit 12,000 To Life insurance premium 30,000
    • a) Depreciation as per income tax rules Rs.21,000
    • b) Medical claim premium was paid in cash
    • c) Life insurance premium includes Rs.10,000 paid for his daughter, You are required to compute his total income for the assessment year 2013-14 Q- 3 a] Saurabh Ganju, a Chartered Accountant based in Jammu, has the following receipts (ex Audit fees for audits done in Jammu 1,50,000 Audit fees for audits done in Delhi 10,00.000 Tax consultancy in Delhi 5,00,000 Calculate the value of taxable services tax liability assuming the rate of service tax is 12.36% Explain the Insurance Auxiliary Services (07) Q-3 a] Explain Chartered Accountant service in detail (08)
    • b] Explain Banking and Finance service in detail 7
11. Q4 Write short note ( Any 3 ) 15 marks
12. Q1 Interest
13. Q2 Any five taxable perquisites in Salary
14. Q3 Contract
15. Q4 Deduction for Gratuity u/s 10 10 marks
16. Q5 Salary

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