Saturday, March 10, 2012

Dibrugarh University - Direct tax law 2011


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(b) Write short notes on the following:

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(b) Ascertain the residential status of the assessee in the following cases for the assessment year 2010-2011: Solution Available here
i. Mr. A is a citizen of  india. He left for iran on 18th april, 2009 and could not return to india till the end of the financial year 2009-2010.
ii. Mr. P left for USA on 10th mar, 2007 after having lived in india for 20 years. He returned to india on 10th september 2009.
iii. Mr.S is a citizen of india. He left on 15th may, 2009 for london for higher studies. He came back to india on 25th may, 2009. He maintained a dwelling place in india during his absence.
iv. Mr. K, a senior scientist goes to Nigeria on a job approved by central government for a period of 3 years on 15th september, 2009. He has never been out of india before.

3.       (a) From the following information, compute the taxable income for assessment year 2010-2011 under the head “Salaries” of Mr. X who is an employee of a transport company:
Salary @ Rs. 10000 p.m.
Arrears of salary Rs. 5000
DA @ Rs. 4000 p.m.
Employer is paying insurance premium of Rs. 1000 pa on his life.
Bonus Rs. 15000
Education allowance for his two children @ Rs. 300 p.m.
Cash gift Rs. 20000
City compensatory allowance @ Rs. 1000 p.m.
Medical expenses paid by employer Rs. 18000
He contributes 15% of his salary to a recognised provident fund and his employer also contribute the same.
He is given luch allowance @ Rs. 100 for 250 days during the previous year.
He is provided with a mobile phone, the bill of which is paid by the company Rs. 6000.
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(b) Explain the provisions of the indian income tax act, 1961 with regard to the following:
(ii) Gratuity

4.       (a) For the assessment year 2010 – 2011
Particulars
House – I
House - II
Fair rent
Municipal Valuation
Standard Rent
Annual Rent
Unrealised rent of the previous year 2009 – 2010
Vacant period
Loss of account of vacancy
Municipal taxes paid
Repairs
Insurance
Land Revenue
Ground rent
Interest on capital borrowed
350000
360000
300000
600000
10000
2 months
100000
40000
5000
20000
25000
66000
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320000
350000
500000
420000
80000
4 months
140000
50000
7000
30000
40000
82000
140000
Determine the taxable income of Mr. X for the assessment year 2010 – 2011 assuming that he pays Rs. 70000 in the public provident fund.
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