60149/BVZ6A/BPF6C/ BVC6A/BPG6C

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Josephine Tucker
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1 NOVEMBER 2015 Time : Three hours Maximum : 75 marks PART A (10 2 = 20 marks) Answer any TEN questions. 1. What is short term capital gain? SÖQ Põ»»uÚ Buõ GßÓõÀ GßÚ? 2. What is indexed cost of improvement? AP Âø» SÔ mh õmk AhUP GßÓõÀ GßÚ? 3. What is capital assets?»uú ö\õzxupò GßÓõÀ GßÚ? 4. How is gambling losses set off? `uõmh mh[pò GÆÁõÖ \ ö\ kqóx? 5. Write a short notes on self assessment. _ v hà Gß uß ]ÖSÔ ÁøμP. 6. What is grossing up? ö õzu kzxuà GßÓõÀ GßÚ? 7. Explain deduction u/s 80 E. Ä 80E ß RÌ AÝ vup mh PÈÄPÒ ÂÁ. 8. What is family pension? Sk J Fv GßÓõÀ GßÚ? 9. What do you mean by clubbing of incomes? \ºUP k Á õú[pò GßÓõÀ GßÚ ö õ Ò? 10. What do you mean by Appeal u/s 249? Ä 249 ß RÌ À øó±k GßÓõÀ GßÚ ö õ Ò? 11. What is the due date for filing of return of Income of a company? J {Ö zvß Á õú Á iázøu \ º US õò Gx? 12. Expand the term CBDT. CBDT GßÓ uzvß Â ÁõUP GßÚ?

2 PART B (5 5 = 25 marks) Answer any FIVE questions. 13. Explain any five general incomes, under the head income from other sources. Ó ÁÈ Á õúz uø» ß RÌ EÒÍ ö õx Á õú[pò H uý I vøúu SÔ kp. 14. Calculate Income from other sources from the following particulars : Rent from letting a building with plant 22,000 Dividend 10,000 Winnings from lotteries 4,000 Interest on bank deposits 3,000 Depreciation on building 2,000 Collection charges towards dividend 100 ßÁ ÂÁμ[PÎß i ""Cuμ ÁÈ Á õúzøu'' PshÔP. ö õô²húõú Pmihzv¼ x ÁõhøP 22,000 [Põuõ 10,000 _ ^mk Á õú 4,000 Á[Q u¼ß «x Ámi 3,000 Pmihzvß «x u õú 2,000 [Põuõ zvøpõú Á`À ö\»äpò Mr. Ramchandran bought a residential house on for 3,00,000 he spent 75,000 for its renovation on He sold the some on for 12,50,000 for which he had paid a brokerage for 10,000. Compute capital gain income. CII for , ;

3 v. μõ a\ vμß Gß Áº AßÖ 3,00,000 v À J Si Ãk Áõ[Q²ÒÍõº. A u Ãk AßÖ ¹.75,000 US x UP mhx. A u Ãk AßÖ ¹.12,50,000 US ÂØP mk uμs ¹. 10,000 ö\»âh mhx.»uú Buõ zøu PshÔP. A..S State the assets which are excluded from capital gains. u¼ú C»õ PnURmi¼ x Â»US AÎUP mh ö\õzxupøí SÔ kp. 17. Calculate total income of Ms. Anusuya from the following : House property loss 70,000 Long term capital loss 15,000 Short term capital gains 40,000 Other sources income 30,000 RÌPshøÁPÎ¼ x v v AÝ` õâß ö õzu Á õúzøu PnUQkP. ¹. Ãmka ö\õzv¼ x mh 70,000 }sh Põ»»uÚ mh 15,000 SÖQ Põ»»uÚ»õ 40,000 Ó ÁÈ Á õú[pò 30,000 3

4 18. Mr. Sivaji's previous year's gross total income is 4,50,000. He has made the following donations : Jawaharlal Nehru memorial fund 12,000 Rajiv Gandhi foundation 8,000 Africa fund 15,000 Indira Gandhi memorial fund 14,000 Calculate his net income. v. ]Áõâ ß øu Bsk ö õzu Á õú ¹. 4,50,000 AÁº RÌPshÁõÖ ßöPõøhPøÍ AÎzxÒÍõº. ááíº»õà {øúä {v 12,000 μõâæ Põ v AÓUPmhøÍ 8,000 B UP {v 15,000 C vμõ Põ v {øúä {v 14,000 AÁ øh {Pμ Á õúzøu PnUQkP. 19. Explain various types of assessment. À ÁÖ ÁøP õú v h kuàpøí ÂÁ UP. PART C (3 10 = 30 marks) Answer any THREE questions. 20. Mr. Jaya Sankar, a college teacher, affiliated to university of Madras gives the following details of his income. Salary 15,000 p.m. Wardenship allowances 200 p.m. Examine ship remuneration 6,000, Income from books 18,000, winning from card game 6,600. Income from lottery 25,000 Remuneration Purchase of Lottery ticket 10,000, Interest received 7,000, Calculate his total income. ö\ßøú ÀPø» PÇPzvØS Em mh PÀ JßÔÀ o ² μõ] º öá \[P ß Á õú Â μ ßÁ õö. õua \ Í ¹. 15,000; Âkv Põ õíº i õu ¹. 200; ÀPø» PÇP uºä Á õú ¹. 6,000 zup[pò» Á õú ¹.18,000; ^mhõmh Á õú ¹.6,600 _ ^mk» Á õú ¹.25,000 _ ^mk Áõ[Q x ¹. 10,000 Ámi ö ØÓx ¹. 7,000. AÁμx ö õzu Á õúzøu PnUQkP. 4

5 21. Calculate the taxable income of Mr. Anbu from the following if the gross total income is 2,50,000 Life insurance premium of Mrs. Anbu 900 Contribution towards LIC pension fund 1,000 Medi claim Insurance 10,000 Expenditure on medical treatment for disabled relative 14,500 Donation to Indian Army 5,000 Donation to Government of India for family planning 25,000. Á ÂvUSm mh v. Aß AÁºPÎß Á õúzøu PnUQkP. AÁμx ö õzu Á õú ¹. 2,50,000 GÛÀ AÁμx øú ß B²Ò Põ mk øú ¹.900 B²Ò Põ mk {Ö J Åv {vus [PÎ ¹.1,000 zxá Põ k ¹. 10,000 FÚ ØÓ EÓÂÚ ß zxáa ö\»ä ¹.14,500 C v øhus ßöPõøhUS 5,000. Sk Pmk õmiøs C v Aμ_US ßöPõøh ¹. 25, The following are the incomes received by Mrs. Ramya during the assessment year Director fees 6,000 Income from agricultural land in Pakistan 40,000 Interest on postal savings bank a/c 1,500 Interest on fixed deposit 1,800 Winnings from lotteries (gross) 50,000 Royalty on books (expenses 4,000) 20,000 Crossword puzzle prize 2,500 Compute income from other sources. 5

6 Á Âv õsk v v μ õâß Á õú Â μ[pøí øázx, AÁμx Cuμ Á Á õúzøu PnUQkP. C US º Pmhn 6,000 õqìuõûà EÒÍ {»zv¼ x ÂÁ\õ Á õú 40,000 u õà \ª Á[Q ¼ x Ámi 1,500 {ø» øá ß «x Ámi 1,800 _ ^mi¼ x öáøô Á õú (ö õzu ) 50,000 zup v ø (ö\»ä ¹. 4,000) 20,000 SÖUS GÊzx õmi _ 2,500 ¹. 23. What are the powers of Income commissioner? Á õú Á Bøn ß AvPõμ[PÒ õøá? 24. An agricultural land situated in Theni district purchased in for 2,50,000 was sold on 15 th September 2014 for 12,50,000. Another piece of land was purchased on 15 th October 2014 for 40,000 and on the same day 25,000 was deposited in the capital gains deposit. Account scheme of a nationalised bank. Calculate taxable capital gain. CII : = uû õámhzøua \õº u J ÂÁ\õ {»zøu Bsk ¹.2,50,000 US Áõ[Q Ax ÓS 15 ö\ h º 2014 Bsk ¹.12,50,000 US ÂØP mhx. ØöÓõ ÂÁ\õ {» 15 AU hõ º 2014 US ¹. 40,000 US Áõ[P mhx. A u õîà u] Á[Q À»uÚ»õ PnUS vmhzvà ¹. 25,000 øá ö\ mhx.»uú»õ zøu PnUQkP. AhUP n ÃUS SÔ±k =

60139/BVZ5A/BPF5C/ BVC5A/BPG5C

60139/BVZ5A/BPF5C/ BVC5A/BPG5C APRIL 2015 Time : Three hours Maximum : 75 marks 1. What is Tax? Á GßÓõÀ GßÚ? 2. Who is an ordinary resident? \õuõμn Si õº õº? PART A (10 2 = 20 marks) Answer any TEN questions. 3. Mention any two examples