University Of Pune Question Paper
D.T.L. Examination, 2010
INCOME TAX ACT, 1961
(New) (2006 Course) (Paper – II)
Time : 3 Hours Max. Marks : 100
N.B. : 1) Question no. 1 is compulsory and carries 20 marks.
2) Answer any five of the remaining carrying 16 marks each.
1. Mr. Bharat an employee of ‘X’ Ltd. has submitted the following data regarding
his income. Compute his income from salary for the A.Y. 2009-10
1) Basic Salary Rs. 15,000 p.m.
2) D.A. Rs. 2,000 p.m.
3) Contribution to RPF @ 14% of salary (by employer)
4) City compensatory allowance Rs. 100 p.m.
5) Interest on RPF balance @ 14% is Rs. 2,800
6) H.R.A. Rs. 1,000 p.m.
7) Entertainment allowance Rs. 200 p.m.
8) Travelling allowance Rs. 2,000 (unspent amount Rs. 200)
9) He has been allotted equity shares of which fair market value was Rs. 62,000
under employee’s stock option plan. The company deducted Rs. 27,000
from his salary for these shares.
10) The assessee is suplied with free gas, water and electricity for which the
employer pays Rs. 1,000 to an outside agency p.a.
11) Rent paid by the assessee for the house is Rs. 1,500 p.m.
12) Profession tax deducted from salary is Rs. 200 p.m.
2. Mr. Ravi is a member of Housing Co-operative Society in Mumbai and Resides
in half the portion of the house, under Hire purchases scheme of the society’.
The remaining half portions is let out at Rs. 2,000 p.a. The fair rental value of the
house assessed by the corporation is Rs. 30,000 per annum. Local taxes in
respect of the house paid Rs. 12,000. Expenses incurred include the insurance
premium Rs. 400 and ground rent Rs. 400. Interest payable to society is
Rs. 16,000.
Compute his income from house property for the A.Y. 2009-10.
3. Discuss the provisions regarding determination of Residential status of an
Individual.
4. What are those expenses which are expressly disallowed while computing business
income ?
5. Explain the provisions regarding set off, carry forward and set off if losses under
Income Tax Act, 1961.
6. Discuss the provisions regarding Income Tax Authorities and their powers under
Income Tax Act.
7. Explain the provisions regarding advance payment of Tax under Income Tax
Act.
8. Write short notes on any three :
a) Best Judgement Assessment
b) Income
c) Return of Income
d) Agricultural Income
e) Previous year.
D.T.L. Examination, 2010
INCOME TAX ACT, 1961
(New) (2006 Course) (Paper – II)
Time : 3 Hours Max. Marks : 100
N.B. : 1) Question no. 1 is compulsory and carries 20 marks.
2) Answer any five of the remaining carrying 16 marks each.
1. Mr. Bharat an employee of ‘X’ Ltd. has submitted the following data regarding
his income. Compute his income from salary for the A.Y. 2009-10
1) Basic Salary Rs. 15,000 p.m.
2) D.A. Rs. 2,000 p.m.
3) Contribution to RPF @ 14% of salary (by employer)
4) City compensatory allowance Rs. 100 p.m.
5) Interest on RPF balance @ 14% is Rs. 2,800
6) H.R.A. Rs. 1,000 p.m.
7) Entertainment allowance Rs. 200 p.m.
8) Travelling allowance Rs. 2,000 (unspent amount Rs. 200)
9) He has been allotted equity shares of which fair market value was Rs. 62,000
under employee’s stock option plan. The company deducted Rs. 27,000
from his salary for these shares.
10) The assessee is suplied with free gas, water and electricity for which the
employer pays Rs. 1,000 to an outside agency p.a.
11) Rent paid by the assessee for the house is Rs. 1,500 p.m.
12) Profession tax deducted from salary is Rs. 200 p.m.
2. Mr. Ravi is a member of Housing Co-operative Society in Mumbai and Resides
in half the portion of the house, under Hire purchases scheme of the society’.
The remaining half portions is let out at Rs. 2,000 p.a. The fair rental value of the
house assessed by the corporation is Rs. 30,000 per annum. Local taxes in
respect of the house paid Rs. 12,000. Expenses incurred include the insurance
premium Rs. 400 and ground rent Rs. 400. Interest payable to society is
Rs. 16,000.
Compute his income from house property for the A.Y. 2009-10.
3. Discuss the provisions regarding determination of Residential status of an
Individual.
4. What are those expenses which are expressly disallowed while computing business
income ?
5. Explain the provisions regarding set off, carry forward and set off if losses under
Income Tax Act, 1961.
6. Discuss the provisions regarding Income Tax Authorities and their powers under
Income Tax Act.
7. Explain the provisions regarding advance payment of Tax under Income Tax
Act.
8. Write short notes on any three :
a) Best Judgement Assessment
b) Income
c) Return of Income
d) Agricultural Income
e) Previous year.
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