Answer to ca-ipcc taxation exam may 2012

CA Vijay Gaurav (CA) (284 Points)

11 May 2012  

 

 

Q. No. 1(a)

 

Business Income 920200/-

House Property  57820/-

Other Sources  15800/-

Total Income 983820/-

Tax Payable 153620/-

 

Q. No. 1(b)

 

Value of Taxable Services 855000/-

 

Service Tax 88065/-

Q. No. 1(c)

 

a) 20 Lac

 

b) 45000/-

 

c) 80000/-

Q. No. 2 (a)(i)

 

YES

 

Q. No. 2 (a)(ii)

 

15000/-

Q. No. 2 (b)

 

a) 850000/-

    (assuming 50000/- excluding ST)

 

b) 87550/-

 

Q. No. 3 (a)

24531/-

Q. No. 3 (b)

a) False

 

b) False

 

c) False

 

d) False

 

e) False

 

f) True

 

g) False

 

h) False

 

Q. No. 3 (c)

a) False

 

b) False

 

c) False

 

d) True

 

e) False

 

f) False

 

g) False

 

h) True

 

Q. No. 4(a)

 

1064000/-

 

Q. No. 4(b)

 

91052/- (92700/-)

Q. No. 4(c)

 

515350/-

Q. No. 5(a)

 

Mr. A 260500/-

Mrs. A 240000/-

Minor Son 20000/-

Q. No. 6(a)

20 Lac

Q. No. 6(b)

625567/-

 

Q. No. 6(c)

11544/-

(Assuming Dealer is Registered in Kerala)

Q. No. 7(a)

265300/-

HRA Exempt 53700/-