Did anyone get correct answers in PCC for question no's 2, 3, 4, 7 ? please share your answers..!!
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How was INCOME TAX today
what are the ans for q4(A)
Can anyone please upload the IPCE tax paper...
i got the following answers, which i feel are wrong 100% but still wants to know if anyone in the following are correct ?
2. Tax payable - 77,080, HP - 222,401
3.(a) Income from business - 390,000 and tax liablity -135,960
3.(b) Dep claim - 60,000 and chargable cap gain - 2,15,000
4.(a) not sure of any answer
4.(b) LTCG 387,500, STCG (100,000) and other total income 386,000
7. ST payable 1,03,000
pls share your answers... all my above answers are wrong to the best of my knowledge... but pls share your answers...!!
Ques 4 (b)
mera 4(b) gaya....!!
i dont have ms excel can anybody post the ans here???
4(a)
in service tax q ...we have to do anything with 50000 or leave it?
| Originally posted by : VUELVE | ||
 |
mera 4(b) gaya....!! |
 |
this is the rite solution...
loss of non-speculation business can be set-off against gain of speculation business...
In quest no- 7
service tax rate.... is it 10.3 or 12.36
In quest no 2 ...
I made three ... Blunder mistakes... 1) Senior citizen ka rate lagaya.. 2) horse race ko... Busin income mi le liya.. 3) NP from Eq sh.. Business income mai l liya.. .
How much marks should i get..????
Quet no 3(a)
kya karna tha...
3(b)
122825+200000=322825-322825=0
par maine saath mai.. capital gain bhi nikal diya... 400000-10000=390000
Please some one tell me??????????????
m so tensed........ Paaaaaaaaagal ho raha hu.. ....
Because paper.. aate hue bhi sillllllly Mistakes ke maine... M so duffer.... i hate ma self...:-(
hey aayush here, it is...
Particulars Amount Amount Income from HP
House 1 36,000.00
House 2 (20,000.00)
House 3 60,000.00
76,000.00
Income from Business
Textile Business 200,000.00
Automobile (200,000.00) -
Speculation 200,000.00
Capital Gains LTCG - Shares - Exempt 10(38)
LTCG - Building 200,000.00
STCL - Building (100,000.00)
100,000.00
OS: Gift - Friend 60,000.00
Gift -Grand Father's Brother 100,000.00
160,000.00
Total Income 536,000.00
| 4(a) | ||||||||
| (i) 194 -D | 10% | |||||||
| (ii) 194 - C | 1% | Assumed that the firm is subject to tax audit | ||||||
| (iii) | TDS not Applicable. As it is only a cash discount | |||||||
| (iv) 194- B | 30% | Circular: No. 264 [F. No. 275/58/79-IT(B)], dated 11-2-1980. | ||||||
Sorry , this is the correct solution for 4(b). Sec 71 is applicable
| Particulars | Amount | Amount | |
| Income from HP | |||
| House 1 | 36,000.00 | ||
| House 2 | (20,000.00) | ||
| House 3 | 60,000.00 | 76,000.00 | |
| Income from Business | |||
| Textile Business | 200,000.00 | ||
| Automobile | (300,000.00) | ||
| Speculation | 200,000.00 | 100,000.00 | |
| Capital Gains | |||
| LTCG - Shares - Exempt 10(38) | |||
| LTCG - Building | 200,000.00 | ||
| STCL - Building | (100,000.00) | 100,000.00 | |
| OS: | |||
| Gift - Friend | 60,000.00 | ||
| Gift -Grand Father's Brother | 100,000.00 | 160,000.00 | |
| Total Income | 436,000.00 |
|
alternative ans by Gunmaster
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