So how was ur TAX paper Guys???
Suyog chari (Articled Assistant) (39 Points)
09 November 2011So how was ur TAX paper Guys???
M. N. JHA
(CA)
(8316 Points)
Replied 09 November 2011
Originally posted by : santhoshni | ||
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It is easy |
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CA Pallav Singhania
(IT System Auditor)
(33262 Points)
Replied 09 November 2011
I heard from my friends....SERVICE TAX JUST LIKE ....BREAD AND BUTTER....BUT DIRECT TAX WAS STANDARD ANG LENTHY!!!!!!!
Pankaj Saraogi
(Faculty - Tax Laws)
(611 Points)
Replied 09 November 2011
IPCC NOVEMBER 2011 TAXATION PAPER
ANSWERS TO NUMERICAL QUESTIONS
Income-tax portion
Q. No. |
|
Answer |
1(a) |
(i) |
4,90,000 |
|
(ii) |
3,84,000 |
1(b) |
|
Madan – TI – 3,80,500, Tax – 19,620; Hema – TI – 1,75,000, Tax – Nil |
2(a) |
|
10,17,000 |
3(a) |
|
LTCG AY 2011-12 – 33,75,986.50, Tax consequences AY 2012-13 – STCG 40,00,000 |
4(a) |
(i) |
Not allowed |
|
(ii) |
Depreciation @ 25% on 20,00,000 for full year |
|
(iii) |
Allowed 8,00,000 x 200% |
|
(iv) |
Allowed bad debts of5,00,000 |
|
(v) |
Not allowed |
|
(vi) |
Not allowed |
|
(vii) |
Not allowed as PGBP expense, but shall be allowed as deduction u/s 80GGB |
|
(viii) |
Taxable |
5(a) |
|
Total Income – 2,90,000 |
6(a) |
(i) |
RNOR |
|
(ii) |
2,50,000 |
7(a) |
(i) |
Hotel, Hospital, Cold chain, warehousing, pipeline |
|
(ii) |
(a) 4,200 (b) No TDS |
|
(iii) |
(a) Disagree (b) Disagree |
VAT & ST portion
Q. No. |
|
Answer |
1(c) |
|
15,14,053 |
1(d) |
|
1,50,000 |
3(b) |
|
1,44,742 |
4(c) |
(i) |
True |
|
(ii) |
False |
|
(iii) |
False |
|
(iv) |
False |
5(c) |
|
5,38,000 |
7(b) |
|
56,21,034 |
7(c) |
|
GPV – 12,000, CV – 2,000 |
Detailed solutions to numerical questions will be posted asap on www.saraogi.co.in
M. N. JHA
(CA)
(8316 Points)
Replied 09 November 2011
Originally posted by : Pankaj Saraogi | ||
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IPCC NOVEMBER 2011 TAXATION PAPER ANSWERS TO NUMERICAL QUESTIONS Income-tax portion Q. No. Answer 1(a) (i) 6,40,000 (ii) 4,74,000 1(b) Madan – TI – 3,80,500, Tax – 19,620; Hema – TI – 1,75,000, Tax – Nil 2(a) 10,17,000 3(a) LTCG AY 2011-12 – 33,75,986.50, Tax consequences AY 2012-13 – STCG 40,00,000 4(a) (i) Not allowed (ii) Depreciation @ 25% on 20,00,000 for full year (iii) Allowed 8,00,000 x 200% (iv) Allowed bad debts of Rs. 5,00,000
amit
(articled assistant)
(171 Points)
Pankaj Saraogi Sir pls post ans to pcc also pls.................
B.Suryanarayana
(Auditor)
(21 Points)
The paper is easy and can be answered in 2and half hours.
Anand Sharma
(CA FINAL Student)
(117 Points)
I made few mistakes in some question. Will i be getting some marks in those qusetions or just zero.
CA Ankur Mittal
(Assistant Manager @ Reliance Communication)
(759 Points)
in tax u get marks for item wise treatment..dont worry
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