Deeak (Student CS) (38 Points)
26 April 2010
Dear All,
If any one having the scanned or soft copy of the CS-Executive Group -I Test Paper for the year 2009 then please do send it me, as i require it for Oral Coaching Certificate.
Regards,
Deepak Sharma
Simranjeet Singh
(Proprietor at S Simranjeet & Associates Company Secretaries)
(4396 Points)
Replied 26 April 2010
Dear Deepak i don't have the solutions in soft copy format but i can help you out in Tax laws CC paper.below are the answers to the practical questions of tax laws 2009 series only and as far as theory of income tax, service tax and VAT is concerned it is easily accessible from the module itself. go through it.
And for GCL and CACMA take the help of solved scanner which will help u a lot especially in GCL.
so, below are the solutions to practicals of tax laws cc paper
cc paper of tax laws 5/2010
computation of net wealth
1) House property - Not an asset being used for Business
2) Vehicles - ALL 3 Vehicles are taxable
3) cash in hand = 3,00,000 is taxable
4) jewellery = 15,60,000 is taxable
5) Value of urban land is taxable but again exemption in respect of land can be claimed u/s 5(vi) provided upto 500 sq metres
Thanks to AMIR. he provides me this
computation of tax answer
1) Salary - 3,36,000
2) Capital Gains
-Long Term 1,50,000
- STCG u/s 111A 15,000
3) Other sources
Interest 34,000
-------------------------
GTI 5,35,000
Deductions
-LIC = 8,000 (RESTRICTED TO 20% OF SUM ASSURED)
- PPF = 22,000 30,0000
------------------------------
TOTAL INCOME 5,05,000
-------------------------------------------
Tax - ON LTCG = 30,000
- on STCG= 2,250
- ON OTHERS = 14,000
------------------------------
46,250
ADD EDUCATION CESS 1,387
-------------------------
TOTAL TAX 47,637
THANKS to AMIR and Mr. saurabh shukla.
profits and gains from business and profession answer
Actually all above cases are decided case laws -
1) Travelling expens - Allowed in the form of depreciation, being incurred in relation to a capital asset
2) Interest on OD for dividend - Allowed, being paid on account of commercial expidency
3) Fees 4 IT Proceedings - Allowed, being for business or profession
4) Neon sign board - Allowed in the form of depreciation, being a capital asset.
Thanks to Amir.
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)
LIVE Course on Foreign Exchange Management Act (FEMA)(without recording)
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