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direct tax mcq from rtp may 19.!!

sachin (sachin) (415 Points)

01 June 2019

Can someone explain the answer for qn 9 and qn 10.?
Qn 9 says answer is 17470
Qn 10 says answer is Transfer pricing provisions are not applicable.
How?

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12 Replies

CA niveditha viswapathy (to complete ca) (60 Points)
Replied 01 June 2019

q.10 TP regulations not applicable to specified domestic transaction covered by S.40A (2) w.e.f AY 2018 19.
q.09 I am getting only A. 25790.

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Rohan Bagra (406 Points)
Replied 01 June 2019

in question you have to also provide 40000 INR as standard deduction as every salaried person get benefit of standard deduction from his salary income.

so provide standard deduction also and you will get 17470 tax liability.

CA niveditha viswapathy (to complete ca) (60 Points)
Replied 01 June 2019

Thanks

Rohan Bagra (406 Points)
Replied 01 June 2019

you are welcome

sachin (sachin) (415 Points)
Replied 01 June 2019

Thank you guys. Got it

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Komal Khatuja (STUDENT) (43 Points)
Replied 01 June 2019

can some one explain the answer for qn 4 obj type ques

sachin (sachin) (415 Points)
Replied 01 June 2019

1.Tax on dividend income = [(40+11.9+0.10)-10]x10%
=4.20 lakhs
2.Tax on business income=[5-2.50]x5%
=12500
3. Total tax = [420000+12500]+4%
=449800

CA niveditha viswapathy (to complete ca) (60 Points)
Replied 01 June 2019

Q.4 from RTP. 42lacs dividend after 10lacs of exemption plus 5 lacs business income to 47 lacs. 42 lacs taxable @ 10% and 5 laca @ normal slab. Tax comes to 12500 for 2.5lacs (5lacs - BEL 2.5lacs) and 4.2 lacs for dividend. Total tax of 4.325lacs plus cess 4% comes to answer a. 4.498lacs. Surcharge not applicable coz net income is less than 50lacs.