Faculty of Commerce MAY/JUNE, 2022 (New Course) : Time - Maximum Marks - N.B. All

2 6 D A
9D DCF F12 016 6DD D06 502 25D 1A 4F0 001

0 5 F
DC CF1 120 16D DD0 065 025 5D1 1A4 4F00 01F 73D
F 2 1 6 D 6 0 2 D A F 0 1 7
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 3DB B61
0 D 5 1 4 F 9
F1 1201 16D D0 065 025 5D1 A4 F00 01F 73D DB6 619 DC
20 6D D 65 025 D1 A4 F0 1F 73 B 19 DC F1
20 16D D 065 025 D1 A4 F0 01F 73 DB 619 DC F1 201
0 0 D 6
01 16D D0 650 025D D1A A4F F00 1F7 73D B6 19D DCF F12 2016 6DD
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0
1.
6D D0 65 025 D1 A4 F00 1F 73D B6 19 DC F12 01 6D D0 650
0 F 7 D D 6
DD D06 650 25D D1A A4F 001 1F7 3D B61 19D CF F120 016 6DD 06 502 25D
5 2 0 F 3 B
0 0 5D 1A 4F 0 7 D 6 9D F 2 16 D 6 502 5D 1A C 1 D 0
06 6502 25D 1A 4F 001 1F73 3DB B61 19D CF 120 016 DD 065 502 5D 1A4 4F0
0 1 D 5 1
N.B. :—
(i)
(v)
(ii)
65 5025 5D1 1A4 4F0 01F F73D DB 619 9DC CF1 201 16D D0 0650 025 D1 A4F F00 01F7
(vi)
(iv)
(iii)
(vii)
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1A 4F 001 F7 3D 61 9D CF 120 16 DD 06 02 5D 1A 4F0 01 F73 DB 61
(ii)
(i)
4F 001 F7 3D B6 9D CF 12 16 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D
00 F7 3D B6 19D C 12 01 DD 06 50 5D 1A 4F 01 F7 D 61 9D CF
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
Time— 3.45 Hours

61 9D CF 120 16D DD 065 02 5D1 1A4 F0 01F 73 DB 619 DC F1 201 16D D0
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
previous year :
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
(Thursday, 16-6-2022)
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
employer spent 15,000 on these.

All questions are compulsory.
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
Bonus @ two months basic salary.

65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
This question paper contains 4+1 printed pages]
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
(New Course)
(Theory Pattern)
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
MAY/JUNE, 2022

NA—139—2022
Dearness allowance @ 6,000 per month.

House rent allowance @ 5,000 per month

1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
Figures to the right indicate full marks.
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
FACULTY OF COMMERCE
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
F73DB619DCF12016DD065025D1A4F001
Entertainment allowance @ 2,000 per month
Paper (UGCVC-TPP-II)/BC-1.5.5

9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
The employer paid 10,000 towards as incentive

TAX PROCEDURE AND PRACTICE
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02

12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
(Indian Tax System and Income Tax Law-I)
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
The employer provided him Laptop cost of Rs. 50,000

65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
B.Com. (First Year) (First Semester) EXAMINATION

1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 2
61 9D CF 120 16D DD 065 02 5D1 1A4 F0 01F 73 DB 619 DC F1 20
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 D
The following particulars relate to the income of Shri Pavan Sharma for the
on monthly salary of 25,000. He is also entitled to a commission @ 1% of sales
to 40,00,000. He received the following allowances and perquisites during the

previous year 2020-21 : He is employed in a cotton Taxtile Mill at Bangalore
He has also been provided with gas, electricity and water facility and
effected by him. The sale effected by him during the previous year amounted
Time : 9.30 a.m. to 1.15 p.m.
P.T.O.
20
Maximum Marks—75
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0
02 D A F0 01 73 B 61 DC F1 20 6D D0
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65
1A 4F 001 F7 3D 61 9D CF 120 16 DD 06
4F 001 F7 3D B6 9D CF 12 16 DD 06 50
00 F7 3D B6 19D C 12 01 DD 06 50
1F 3D B 19 C F1 01 6D 0 50 25
73 B 619 DC F1 20 6D D0 65 25
DB 61 D F 20 16 D 65 02 D
9 C 1 1 D 0 5
2 6 D A
9D DCF F12 016 6DD D06 502 25D 1A 4F0 001
0 5 F
DC CF1 120 16D DD0 065 025 5D1 1A4 4F00 01F 73D
F 2 1 6 D 6 0 2 D A F 0 1 7
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 3DB B61
0 D 5 1 4 F 9
F1 1201 16D D0 065 025 5D1 A4 F00 01F 73D DB6 619 DC
20 6D D 65 025 D1 A4 F0 1F 73 B 19 DC F1
20 16D D 065 025 D1 A4 F0 01F 73 DB 619 DC F1 201
0 0 D 6
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0
2.
6D D0 65 025 D1 A4 F00 1F 73D B6 19 DC F12 01 6D D0 650
0 F 7 D D 6
WT
5 2 0 F 3 B
0 0 5D 1A 4F 0 7 D 6 9D F 2 16 D 6 502 5D 1A C 1 D 0
0 1 D 5 1
(c)
(x)
(b)
(a)
(d)
(ix)
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
(

9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
Actual rent realized Rs. 9,000 p.m.

CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
2
Municipal rent value Rs. 8,500 p.m.
Or
the Assessment Year 2021-22.
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D

01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
)
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
2018 and completed in February 2020.

D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
to 30,000 during the previous year.
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
following are the details of the property let-out :
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
Renovation to the house in 1979 Rs. 60,000.
F73DB619DCF12016DD065025D1A4F001
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
Cost of 1st floor constructed 2011-12 Rs. 1,72,000.

01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
Rent payable under Rent Control Act Rs. 8,500 per month.
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7

(viii) The employer gave him cotton worth 1,000 free of cost.
Adding two bathrooms at the cost of Rs. 2,000 in 2010.

02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
spent the following amount on the improvement to the house :

5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C
Fair market value of the house on 1st April, 2001 Rs. 22,000.
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 2 during the previous year. Fire insurance premium paid Rs. 2,000 p.a.
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 Compute the income from house property for the assessment year 2021-22.
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 D
municipal valuation as local taxes, the construction of property began is Sept.
He had borrowed loan for the construction of the house property, on which he
Shri Vishnu Prasad has a house property let-out for residential purposes. The
He and his employer both contributed 15% of his salary to his Recog-
Bangalore. Compute his taxable income under the head ‘Salaries’ for
15
has paid Rs. 2,00,000 a interest up to 31.3.2020. And Rs. 50,000 as interest
He spent 6,000 per month as rent of the house occupied by him in
The Rent payable for a similar house is Rs. 9,000 p.m. He has paid 15% of
nized Provident Fund and Interest credited to this fund @ 9% amounted
15
Mr. Shyam purchased a residential house in the year 1976 for Rs. 1,40,000. He
NA—139—2022
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0
02 D A F0 01 73 B 61 DC F1 20 6D D0
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65
1A 4F 001 F7 3D 61 9D CF 120 16 DD 06
4F 001 F7 3D B6 9D CF 12 16 DD 06 50
00 F7 3D B6 19D C 12 01 DD 06 50
1F 3D B 19 C F1 01 6D 0 50 25
73 B 619 DC F1 20 6D D0 65 25
DB 61 D F 20 16 D 65 02 D
9 C 1 1 D 0 5
2 6 D A
9D DCF F12 016 6DD D06 502 25D 1A 4F0 001
0 5 F
DC CF1 120 16D DD0 065 025 5D1 1A4 4F00 01F 73D
F 2 1 6 D 6 0 2 D A F 0 1 7
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 3DB B61
0 D 5 1 4 F 9
F1 1201 16D D0 065 025 5D1 A4 F00 01F 73D DB6 619 DC
20 6D D 65 025 D1 A4 F0 1F 73 B 19 DC F1
20 16D D 065 025 D1 A4 F0 01F 73 DB 619 DC F1 201
0 0 D 6
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0
3.
6D D0 65 025 D1 A4 F00 1F 73D B6 19 DC F12 01 6D D0 650
0 F 7 D D 6
WT
5 2 0 F 3 B
0 0 5D 1A 4F 0 7 D 6 9D F 2 16 D 6 502 5D 1A C 1 D 0
0 1 D 5 1
1.
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
2020-21
2011-12
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
2001-2002
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
Basic Salary
Leave Salary
official.
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
301
184
100
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
Dearness Allowance
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
Rent paid for furniture

02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
Rent recovered by employer

1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
(

9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
Professional tax paid by employer

CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
3
Or
The cost inflation index for the year
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D

01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
)
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
house of this residential at Rs. 5,00,000.
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
Fair rent of the flat provided by employer
Contribution to Statutory Provident Fund

02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
F73DB619DCF12016DD065025D1A4F001
getting following allowances per annum and perks.
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
Employer's contribution to Statutory Provident Found

CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
see has not opted section 115BAC compute tax payable.

01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
receives during PY end March 31, 2021 the following payments :

1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 2
Compute his income from capital gain for the assessment year 2021-22.
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 D 4,000
He sold the above house in the year 2020-21 at Rs. 41,00,000 the selling
Mr. Mahesh is working in a company and getting 20,000 p.m. as salary. He is

Mr. Ramamoorthy, an employee of M/s. Gopal Krishnan & Co. of Chennai
expenses incurred Rs. 20,000 in the same year he has purchases one small
4,000
Compute his taxable income for the assessment year 2021-22. Assuming asses-
3,000
1,000
6,000
1,000
3,000
40,000
15
5,400
NA—139—2022
Travelling allowance 7,000 p.m. but actual expenditure 5,000 for
P.T.O.
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0
02 D A F0 01 73 B 61 DC F1 20 6D D0
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65
1A 4F 001 F7 3D 61 9D CF 120 16 DD 06
4F 001 F7 3D B6 9D CF 12 16 DD 06 50
00 F7 3D B6 19D C 12 01 DD 06 50
1F 3D B 19 C F1 01 6D 0 50 25
73 B 619 DC F1 20 6D D0 65 25
DB 61 D F 20 16 D 65 02 D
9 C 1 1 D 0 5
2 6 D A
9D DCF F12 016 6DD D06 502 25D 1A 4F0 001
0 5 F
DC CF1 120 16D DD0 065 025 5D1 1A4 4F00 01F 73D
F 2 1 6 D 6 0 2 D A F 0 1 7
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 3DB B61
0 D 5 1 4 F 9
F1 1201 16D D0 065 025 5D1 A4 F00 01F 73D DB6 619 DC
20 6D D 65 025 D1 A4 F0 1F 73 B 19 DC F1
20 16D D 065 025 D1 A4 F0 01F 73 DB 619 DC F1 201
0 0 D 6
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0
4.
6D D0 65 025 D1 A4 F00 1F 73D B6 19 DC F12 01 6D D0 650
0 F 7 D D 6
WT
5 2 0 F 3 B
0 0 5D 1A 4F 0 7 D 6 9D F 2 16 D 6 502 5D 1A C 1 D 0
0 1 D 5 1
9.
8.
7.
6.
5.
4.
3.
2.
11.
10.
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
2020-21
2010-11
2001-02
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
year.
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
per day.
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
301
167
100
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
70 per day.
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
(

9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
4
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D

01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
)
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
previous year. If selling expenses are 2,50,000.

1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
F73DB619DCF12016DD065025D1A4F001
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
Compute income from salary for the AY 2021-22.

12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
Daily allowance 2,000 expenses on this A/c 1,500.
Helper Allowance 4,000 actual expenditure 3,500.

Travelling allowance for personal travelling 2,000.
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
Uniform allowance 2,700 actual expenditure 2,500.
Academic allowance 2,000 actual expenditure 1,500.
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00

65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
Conveyance allowance 9,000 actual expenditure 7,500.
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 2
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16
Calculate capital gain for the current assessment year cost inflation index.
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 D
The company has provided in the office free refreshment which cost 25
paid salary by the company @ 200 p.m. and 100 p.m. respectively.
electric light in October 2010. He sold the asset for Rs. 1,60,00,000 during the
Mr. Mahesh purchased an art piece of Mogul’s period for Rs. 4,00,000 on 5th
He has also been provided by the company with facility of free use of
He has been provided with the facility of a sweeper and a cook who are
Jul., 1978 and Rs. 1,00,000 is spent for glass frame and illumination with
water and light for which company paid 10,000 during the previous
15
The company has provided in the office amenity of free lunch which cost
NA—139—2022
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0
02 D A F0 01 73 B 61 DC F1 20 6D D0
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65
1A 4F 001 F7 3D 61 9D CF 120 16 DD 06
4F 001 F7 3D B6 9D CF 12 16 DD 06 50
00 F7 3D B6 19D C 12 01 DD 06 50
1F 3D B 19 C F1 01 6D 0 50 25
73 B 619 DC F1 20 6D D0 65 25
DB 61 D F 20 16 D 65 02 D
9 C 1 1 D 0 5
2 6 D A
9D DCF F12 016 6DD D06 502 25D 1A 4F0 001
0 5 F
DC CF1 120 16D DD0 065 025 5D1 1A4 4F00 01F 73D
F 2 1 6 D 6 0 2 D A F 0 1 7
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 3DB B61
0 D 5 1 4 F 9
F1 1201 16D D0 065 025 5D1 A4 F00 01F 73D DB6 619 DC
20 6D D 65 025 D1 A4 F0 1F 73 B 19 DC F1
20 16D D 065 025 D1 A4 F0 01F 73 DB 619 DC F1 201
0 0 D 6
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0
5.
6D D0 65 025 D1 A4 F00 1F 73D B6 19 DC F12 01 6D D0 650
0 F 7 D D 6
WT
5 2 0 F 3 B
0 0 5D 1A 4F 0 7 D 6 9D F 2 16 D 6 502 5D 1A C 1 D 0
0 1 D 5 1
(c)
(b)
(a)
(d)
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
NA—139—2022
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
Solve any two :

CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
amount borrowed for repairs.

1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
(

9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
5
5
Or
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D

01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
)
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C 12
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1 01
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 20 6D
F73DB619DCF12016DD065025D1A4F001
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20 6D D 65
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D
Compute the income from House Property for AY 21-22.
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 DD 06 02 5D 1A
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D 0 50 5D 1A 4F
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7
Define Person, Income and give tax rates for company.

02 D A F0 01 73 B 61 DC F1 20 6D D0 65 25 D1 A4 0 1F 3D
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65 02 D A F0 01 73 B
Rs. 16,90,000 (Assuming assessee has opted section 115BAC)
1F 3D B 19 C F1 01 6D 0 50 25 1 4F 00 F7 3D B6 9D C
73 B 619 DC F1 20 6D D0 65 25 D1 A4 00 1F 3D B6 19 C F1
DB 61 D F 20 16 D 65 02 D A4 F0 1F 73 B 19 DC F1 2
Rs. 54,80,000 (Assuming Assessee has not opted section 115BAC)
9D CF 12 16 D 06 02 5D A F0 01 73 DB 61 D F 20
CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16
12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16
PY 20-21 is Rs. 4,80,000 and Non-Agriculture income is Rs. 1,58,900.
01 D 0 50 5D 1A 4F 00 F7 3D 6 9D CF 12 16 D
@ 12% during the year. She also paid interest of 25,000 during the year for
tenant vacated the property and she used the house for self occupation Rent
Smt. Shanti Devi has a house property in Kolkata. The Muncipal Valuation
Compute tax liability of Mr. Ram when his Income for PY 20-21 is
all the conditions for unrealized rent were satisfied. She paid Municipal Taxes
Standard Rent as per the Rent Control Act is 8,00,000. She let out the prop-
erty until 30th Nov., 20 for a monthly rent of 75,000 per month Thereafter, the
for the same is Rs. 10,00,000. The Fair Rental for the property is 7,50,000. The
Compute Tax liability of Mr. Umesh when his Agriculture-Income for

for the months of Oct., and Nov., 20 couldn’t be realized despite all efforts, and
Compute Tax liability of Mr. Tanay when his Income for PY 20-21 is
NA—139—2022
10
6D D0 65 25 1 4 00 1F 3D B6 19 C 12 01 D
D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D
65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0
02 D A F0 01 73 B 61 DC F1 20 6D D0
5D 1A 4F 01 F7 DB 61 9D F 20 16 D 65
1A 4F 001 F7 3D 61 9D CF 120 16 DD 06
4F 001 F7 3D B6 9D CF 12 16 DD 06 50
00 F7 3D B6 19D C 12 01 DD 06 50
1F 3D B 19 C F1 01 6D 0 50 25
73 B 619 DC F1 20 6D D0 65 25
DB 61 D F 20 16 D 65 02 D
9 C 1 1 D 0 5

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2 6 D A

9D DCF F12 016 6DD D06 502 25D 1A 4F0 001

Time— 3.45 Hours

employer spent 15,000 on these.

Bonus @ two months basic salary.

1A 4F 001 F7 3D 61 9D CF 120 16 DD 06 02 5D 1A 4F0 01 F73 DB 61

Dearness allowance @ 6,000 per month.

House rent allowance @ 5,000 per month

61 9D CF 120 16D DD 065 02 5D1 1A4 F0 01F 73 DB 619 DC F1 201 16D D0

The employer paid 10,000 towards as incentive

CF 12 016 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D CF 120 16 D 065 02

The employer provided him Laptop cost of Rs. 50,000

4F 001 F7 3D B6 9D CF 12 16 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D

on monthly salary of 25,000. He is also entitled to a commission @ 1% of sales

to 40,00,000. He received the following allowances and perquisites during the

61 9D CF 120 16D DD 065 02 5D1 1A4 F0 01F 73 DB 619 DC F1 201 16D D0

Actual rent realized Rs. 9,000 p.m.

Municipal rent value Rs. 8,500 p.m.

12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D

2018 and completed in February 2020.

Renovation to the house in 1979 Rs. 60,000.

Cost of 1st floor constructed 2011-12 Rs. 1,72,000.

65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7

Adding two bathrooms at the cost of Rs. 2,000 in 2010.

spent the following amount on the improvement to the house :

Rent paid for furniture

Rent recovered by employer

61 9D CF 120 16D DD 065 02 5D1 1A4 F0 01F 73 DB 619 DC F1 201 16D D0

Professional tax paid by employer

12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D

65 025 D1 A4 F0 1F 73D B 19 DC F1 201 6D D0 650 25 D1 4F 00 1F7

Fair rent of the flat provided by employer

Contribution to Statutory Provident Fund

Employer's contribution to Statutory Provident Found

see has not opted section 115BAC compute tax payable.

4F 001 F7 3D B6 9D CF 12 16 DD 06 502 5D 1A 4F0 01 F73 DB 61 9D

Mr. Mahesh is working in a company and getting 20,000 p.m. as salary. He is

Travelling allowance 7,000 p.m. but actual expenditure 5,000 for

61 9D CF 120 16D DD 065 02 5D1 1A4 F0 01F 73 DB 619 DC F1 201 16D D0

12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D

previous year. If selling expenses are 2,50,000.

Compute income from salary for the AY 2021-22.

Helper Allowance 4,000 actual expenditure 3,500.

D0 65 025 D1 A4 F00 1F 73D B6 19 DC F1 01 6D D0 650 25 1A 4F 00

Solve any two :

amount borrowed for repairs.

61 9D CF 120 16D DD 065 02 5D1 1A4 F0 01F 73 DB 619 DC F1 201 16D D0

12 016 DD 06 502 5D 1A 4F 01 F7 DB 61 9D CF 120 16 DD 065 02 5D

Define Person, Income and give tax rates for company.

Compute Tax liability of Mr. Umesh when his Agriculture-Income for

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