APRIL 2013 60139/BVZ5A/BPF5C/BVC5A

Time : 3 hours Maximum : 75 marks

PART A (10 2 = 20 marks)
Answer any TEN questions each in 30 words.
All questions carry equal marks.
1. What is standard rent?
hP G G?
2. What is casual income?
u\ G G?
3. Define Assessment year.
vmk Bsk .
4. Define - previous year.
u Bsk .
5. What do you understand by the term business?
""oP'' G uzvS G A }?
6. Mention any two examples of allowances.
iP Hu Csk Eun[P TP.
7. What is unrealised rent?
`UPhu hP G G?
8. What is the maximum amount allowed as deduction U/s 80 C?
80C R AvPm\ AvUPmh P G?
9. What is meant by self occupied house?
\uSi k G G ?
10. Commission paid while purchasing raw materials Whether
admissible or not?
mP [SuPP uS Pkzx
AvUPmhu? C?
11. Explain Form 16.
i 16 UP.
12. Calculate tax liability for taxable income of Rs. 2,00,000 for the
AY 201213.
v Bsk 2012-13 USmmh . 2,00,000 US
G?
PART B (5 5 = 25 marks)
Answer any FIVE questions each in 200 words.
All questions carry equal marks.
13. Define the term Person U/s 2 (31) of I.T. Act.
a\mh 2(31) R "|' Gu .
14. Give the features of salary.
\zv uP USP.
15. Compute net annual value from the following :
Actual rent received Rs. 72,000 p.a.
Municipal rental value Rs. 60,000.
Fair rent value Rs. 16,000.
Municipal tax paid 10% of municipal rental value.
RPsh [Px {P Bsk vU PnUQkP.
hP x BsiS . 72,000
|Pm] hP v . 60,000.
{ hP v . 16,000.
|Pm] \zvx 10% |Pm] v.
16. Mr. Rahul submits the following particulars of his business of
which, you calculate the income from business. Net profit as per
P & L a/c (after charging following) Rs. 40,000.
(a) Sales tax Rs. 2,000 and Income tax Rs. 3,000.
(b) Bad debts provision Rs. 1,000.
(c) Commission to procure business order Rs. 4,000.
(d) Interest on capital Rs. 1,500.
(e) Depreciation Rs. 2,000 (but as per Income Tax Rules
Rs. 1,800 only)

2 60139/BVZ5A/BPF5C/BVC5A
 v. S G ux [P RPsh uUQ.
zu PnUQkP. {P (RPshP
Pzux P) . 40,000
(A) . 2,000 . 3,000.
(B) IU Ph JxURk . 1,000.
(C) Ezu [P si uS Pkzux . 4,000.
(D) u x mi . 1,500.
(E) u .2,000 (B a \mhzv i
. 1,800 mk)
17. From the following calculate Taxable HRA of Mr. Sundaram
working in Chennai.
Basic salary Rs .10,000 p.m.
D.A. (Formi) Rs. 3,000 p.m.
H.R.A. Rs. 2,000 p.m.
Rent paid Rs. 3,000 p.m.
RPsh [Px v. _u G \ o
Ax USmmh mk hPU i PnUQkP.
Aih \ . 10,000 (u)
AP i (A[RPUPmh) . 3,000 (u)
mk hPi 2,000 (u)
hP \zvx u JS . 3,000.
18. Calculate deduction U/s 80 C from the following :
Contribution to PPF Rs. 15,000.
Contribution towards NSC VIII issue Rs. 11,000.
Insurance premium on his wifes life Rs. 25,000 (sum assured
Rs. 1,50,000).
RPsh [Px 80 C R E PP
PnUQkP.
x \ | {v [P . 15,000.
u] \ zv VIII mi [P . 11,000 .
ux Pmk \zvx . 25,000
(JU Psh uP . 1,50,000).
19. Explain who should file return of Income.
izu \x?

3 60139/BVZ5A/BPF5C/BVC5A
 PART C (3 10 = 30 marks)

Answer any THREE questions each in 500 words.

All questions carry equal marks.

20. From the following P & L a/c calculate income from business for
the assessment year 201213.
Rs. Rs.
To Rent & Rates 45,000 By Gross Profit 2,25,000
To Dep. on machinery 8,000 By Income from other sources 1,50,000
To Dep. on furniture 2,000 By Income from capital gain 1,00,000
To Purchase of motor car 50,000 By Miscellaneous income 1,25,000
To Car expenditure 3,000
To Advertisement (Cash) 25,000
To Net profit 4,67,000
6,00,000 6,00,000

(a) Allow Rs. 5,000 as depreciation on machinery.

(b) 50% of motor car expenses relates to personal use.

(c) Miscellaneous receipt is approved by I.T. authority as

business income.

(d) Motor car has no depreciation.

R |mh P/S [Px zvx

zu PnUQkP.
. .
hP PP 45,000 zu 2,25,000
Cv u 8,000 Cu C[P Cx 1,50,000

xn 2,000 u u 1,00,000
mP Bu
mh P 50,000 1,25,000
[Qx
P \ 3,000
25,000
(UPP)
{P 4,67,000
6,00,000 6,00,000

4 60139/BVZ5A/BPF5C/BVC5A
 (A) Cvzv u . 5,000 AvUP.
(B) mh P \ 50% Sv \u EPS .
(C) [P Azx G
oP AvPP JU Psk.
(D) mh PUS u C.

21. Mr. Vijayans house details are as follows. (50% own residence
and 50% let out).
Rs.
Municipal value 1,12,000
Municipal tax 12,000
Ground rent due 2,400
Rent received (let out) 48,000
Repair 24,000
Insurance premium 3,000
Interest on loan for house construction 2,400
Compute house property income for the AY 201213.
v. Gx mk E (50% \u
Si, 50% hP Si)
.
|Pm] v 1,12,000
|Pm] 12,000
{ hP UQ 2,400
hP x (hP mhx) 48,000
x 24,000
Pmk 3,000
k Pmh [Q Ph x mi 2,400

201213 vsiS mka \zx zu PnUQkP.

22. Income details of Thirumurugan for the financial year 201112

as follows :
(a) Salary Rs. 5,000 p.m.
(b) D.A. Rs. 2,000 p.m.
(c) Entertainment allowance Rs. 300 p.m.
(d) Employers contribution to RPF Rs. 7,900 p.a.

5 60139/BVZ5A/BPF5C/BVC5A
 (e) Interest credited to RPF @ 9.5% Rs. 1,000.
(f) City compensatory allowance Rs. 150 p.m.
(g) Medical allowance Rs. 100 p.m.
(h) HRA Rs. 600 p.m. (Rent paid Rs. 750 p.m.)
Calculate salary income for the AY 201213.
vP 20092010 {vsi u [P
[P .
(A) \ . 5,000 u
(B) AP i . 2,000 u.
(C) PUP i . 300 u
(D) A[RPUPmh [P {vUS ozx|
[P BskUS . 7,900
(E) Psh {vx Qhzu mi BskUS . 9.5%
. 1,000.
(F) |P Dmki . 150 u
(G) zxi . 100 u
(H) mk hPi . 600 u (hP \zvx . 750
u)
v Bsk 201213 US \ zu PnUQkP.

23. State any 10 incomes that are exempted from Income Tax.
UPUPmh Hu 10 [P
mikP.

24. Explain the features of PAN.

{u PnUS Gso uP USP.

6 60139/BVZ5A/BPF5C/BVC5A