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NS - 450
V Semester B.Com. e* *in^{o6n,November/December 201 6
(Repeaters - 2014-15 & Onwards)
5.3 : INCOME TAX - l
Time :3 Hours Max. Marks :100
lnstruction : Answer should be written eithercompletety in Engtish or
Kannada.

SECTION -A
Answer any ten questions. Each carries two marks.
0x2=20)
1. a) Give the meaning of Total lncome.
b) Who is not ordinarily resident ?
c) What is Gross Total lncome ?
d) Mention 4 canons of Taxation.
e) what is the provision rerated to children education allowance ?
f)What do you mean by Transferred Balance ?
g) What is composite rent ?
h) What is unrealised rent and how do you treated when it is recovered ?
i) Give the meaning of annualvalue.
j)Who is "Assessee in default,,?
k) Give the meaning of salary for calculating gratuity covered and not covered.
l) What is Statutory Provident Fund ?
SECTION - B
Answer any 4 questions. Each carries g marks. (4x8=32)
2. Distinguish between capitar receipts and revenue receipts.

3. Mr' Umashankar retired from service on 31-3-16. His pension was fixed at
Rs.28,000. He commutes one half of his pension and received 14,00,000. Find
out the taxable amount of commuted pension, if
a) He is a Government Employee.
b) He is a Non-Government Employee if he received gratuity and
c) He is a Non-Government Employee, if he does not received gratuity.

P.T.O.
NS - 450 -2- I |ililil1ilttil ililtflIiltill tilt

4. Ms. Bharathi reside in Mumbai. During the p.y. 1s-16

she get Rs. 2,40,000 p.a.
as basic salary. She gets DA at 2o/" of basic salary (e"nters
for retirement
benefit)' She has also received a commission of ns. as,doo
turnover achieved by her) H.R.A. received is Rs. 24,ooo p.i. iCarcura bd atzoh
ort rent paid is
Rs. 40,000 p.a. calculate the taxable HRA forthe A.y.
2o.l 6-17.
5' Mr' Krishna went to England for studies on 5th August 2015 and come back
to
lndia on 25 February 2016. He had never been out of lndia
before. What is
residentialstatus forthe A.y. 201 6_17 ?

6' State whetherthe following income are agriculturalor

non-agricultural incomes.
a) Dividend from a company in agriculture.
b) Lease rent received from land gives to tenants for agricultural operations.
c) Salary received as a partnerfrom a tea company.
d) Sale of plant from nursery.
e) lncome from self grown and trees.
f ) Compensation received for acquisition of agricultural land for military purposes.
g) lncome derived from tand used as stone quarries.
h) Rent from H.p. situated in a village.

SECTION -C
Answer any 3 questions. Each carries 16 marks.
(3x16=48)
7' Mr' Narasimha furnishes the following particutars of his income earned during
the previous year 201 S-1 6.
a) Profit from business in Nagpurt 7S,OOO
b) lncome from agriculture in SriLankat 2,O0,OOO
c) lncome from property in London receive theret 1,50,000
d) lnterest on German Development BondsT 1,50,000 (J received
in lndia).
e) lncome from business in u.K. controiled from Bangaru-ruT 1,go,0oo
(t 80,000 received in lndia).
f ) Dividend from lndian Co. t 1O,OOO
g) Profit on sale of buirding in chennai received in Nepart 5o,o0o.
h) lncome from Agriculture in MysoreT 1,OO,0OO.
i) Profit on sale of plant at LondonT 50,000 (so/oreceived in
lndia).
 NS - 450 -4- I|ililililililtililililtilttilt

Repair expenses 1,000 4,000

Collection charges 2,000 S00
lnterest on Loan
For construction 20,000
Fordaughter's marriage 6,000
For repair 2,000

Municipaltax is 10% of Municipal Value : Municipal Tax of House A was paid by

' owner. Municipaltax of house B was not paid till 31/3/16, Municipal Tax of House
c was paid by tenant. House c remained vacant for 2 months.

10. Sri Krishna sales manager of Reliance Ltd. Mumbai has furnished the following
details of his lncome. Compute his taxable income from salary forthe A,y. 16-12.
a) Basic salary t 20,000 p.m.
b) D.A. T 7,500 p.m. (forming part of salary)
c) Bonus equalto B months basic salary

d) Entertainment allowance Rs. 2,500 p.m.

e) Commission is2o/o on sales. During the p.y. sales achieved by him is
t 4,00,000.

f) Children hostel allowance for his two children t 400 per month per child.
g) Re-imbursement of medical bills t 24,000 for the treatment taken in pvt.
nursing home.
:"'; h) He is provided rent free furnished accommodation owned by the company.
Cost of furniture T 1 ,50,000. FRV of that accommodation is t 8,000 p.m.
i) Free telephone at his residencet 3,500.
j) Company paid on behalf of Krishna Mediclaim lnsurance { 4,000 p.A,
Employment tax { 2,400 P.A. and Life lnsurance Premium t 1 ,500 p.A.
I rililfl ililt ilt ililt ililt ilil tilt
NS - 450

v semester B.com. Examination, November/December 2016

(Repeaters - 2014-15 & Onwards)
5.3 : INCOME TAX - I
Time : 3 Hours Max. Marks :100
lnstruction : Answer should be written eithercomptetety in Engtish or
Kannada.

SECTION _ A

Answer any ten questions. Each carries two marks, (10x2=201

1. a) Give the meaning of Total lncome.
b) Who is not ordinarily resident ?
c) What is Gross Total lncome ?
d) Mention 4 canons of Taxation.
e) What is the provision related to children education allowance ?
f)
What do you mean by Transferred Balance ?
g) What is composite rent ?
h) What is unrealised rent and how do you treated when it is recovered ?
i) Give the meaning of annualvalue.
j)
Who is "Assessee in default', ?
k) Give the meaning of salary for calculating gratuity covered and not covered.
l) What is Statutory Provident Fund ?
SECTION _ B
Answer any 4 questions. Each carries g marks. (4xg=32)
2. Distinguish between capital receipts and revenue receipts.

3' Mr' Umashankar retired from service on 31-3-16. His pension was fixed at
Rs' 28,000. He commutes one half of his pension and received 14,00,000. Find
out the taxable amount of commuted pension, if
a) He is a Government Employee.
b) He is a Non-Government Employee if he received gratuity and
c) He is a Non-Government Employee, if he does not received gratuity.

P.T.O.
 NS - 4s0 -2- I |ililil ililr ilr rfil ililt rilt tilr

4. Ms. Bharathi reside in Mumbai. During the P.Y. 15-16 she get Rs. 2,40,000 p.a.
as basic salary. She gets DA at 20"/" ol basic salary (enters for retirement
benefit). She has also received a commission of Rs. 45,000 (Calculaled at2"/"
turnover achieved by her) H.R.A. received is Rs. 24,000 p.a. but rent paid is
Rs. 40,000 p.a. Calculate the taxable HRA for the A.Y. 201 6-17.

5. Mr. Krishna went to England for studies on sth August 2015 and come back to
lndia on 25 February 2016" He had never been out of lndia before. What is
residential status for the A.Y. 201 6-17 ?

6. State whetherthe following income are agriculturalor non-agricultural incomes.

a) Dividend from a company in agriculture.
b) Lease rent received from land gives to tenants for agricultural operations.
c) Salary received as a partner from a tea company.
d) Sale of plant from nursery.
e) lncome from self grown and trees.
f ) Compensation received for acquisition of agricultural land for military purposes.
g) lncome derived from land used as stone quarries.
h) Rent from H.P. situated in a village.
SECTION _ C

Answer any 3 questions. Each carries 16 marks (3x16=48)

7. Mr. Narasimha furnishes the following particulars of his income earned during
the previous year 2015-16.
a) Profit from business in Nagpurt 75,000
b) lncome from agriculture in SriLanka{ 2,00,000
c) lncome from property in London receive there{ 1 ,50,000
d) lnterest on German Development Bonds{ 1 ,50,000 1] received in lndia).
J
e) lncome from business in U.K. controlled from Bangaluru T 1 ,80,000
(T 80,000 received in lndia).

f ) Dividend from lndian Co. t 10,000

1 g) Profit on sale of building in Chennai received in Nepalt 50,000"

h) lncome from Agriculture in Mysoret 1,00,000.
i) Profit on sale of plant at London t 50,000 (50% received in lndia).
r ilr Ililtililililil[ilililt -3-
NS - 450
i) Rent from House property in London received there{ 2o,oo0.
k) Profitfrom business in Hubric received in Dhanrvad{2s,000.
l) Dividends from U.K. based company received in U.K. { a7,000.
compute his Gross Total lncome for the A.y. 201 6-1T.lf he is
a) Ordinary resident
b) Not ordinary resident
c) Non-resident.

B. Mr. Pramod is an employee of NWSK Ltd. Mysore. His particular of tncome for
the p.y. 15-16 as follows

t
Basic salary 18,000 p.m., D.A.4oo/oof basic salary go%of it forms part of
salary for retirement benefit), H.R.A. 6,000 p.M. (rent
faidt 7,soo p.m.) ciritdren
education allowance T 250 per month per child tor g inilOren, Hetper Altowance
I500 p.m. (Actual he spentT 300 p.m.) Bonus t 25,000, Leave encashment
t 20,000. Entertainment allowancet 250 p.m.
Mr. Pramod has been provided with free use of a small car for both official and
personal use. During the year the company re-imbursed t 21,000 towards
medical
expenses incurred by him.
His contribution to R.P.F. is 14o/o of salary and the company also makes a
matching contribution. lnterest credited by the Co. on the accumulated balance
of RPF A/c at 14o/o p.a.21 ,000.
Professionaltax paid by him t 200 p.m. Compute Mr.Pramod Salary lncome for
the A.Y. 16-17.

9. Mr. Mohan is owner of 3 houses in Ramanagara.

compute lncome from House property for the A.y. 201 6-17 .

Particulars House A House B House C

t t t
Fair rent 36,000 30,000 24,000
Municipal rent 30,000 40,000 20,000
Letout rent per month" 4,000 3,000 5,000
Use by Tenant Residential Office Residential
Construction started 30/5/10 1t1t10 31/3t07
Construction completed 1/4t13 1/6t13 31/3/08
NS - 450 -4- I llililil ililt ilt ililI ililI lilt llt

Repair expenses 1,000 4,000

Collection charges 2,000 500

lnterest on Loan
For construction 20,000
For daughter's marriage 6,000
For repair 2,000

Municipaltax is 10% of Municipal Value : MunicipalTax of House A was paid by

owner. Municipaltax of house B was not paid till31 13116. MunicipalTax of House
C was paid by tenant. House C remained vacant for 2 months.

10. Sri Krishna sales manager of Reliance Ltd. Mumbai has furnished the following
details of his lncome. Compute his taxable income from salary for the A.Y. 16-17 .

a) Basic salary T 20,000 p.m.

b) D.A. { 7,500 p.m. (forming part of salary)
c) Bonus equalto 3 months basic salary

d) Entertainment allowance Rs. 2,500 p.m.

e) Commission is2/. on sales. During the p.y. sales achieved by him is

t 4,00,000.
f) Children hostel allowance for his two children t 400 per month per child.
g) Re-imbursement of medical bills t 24,000 for the treatment taken in Pvt.
nursing home.

h) He is provided rent free furnished accommodation owned by the company.

Cost of furnitureT 1,50,000. FRV of that accommodation is T 8,000 p.m.
i) Free telephone at his residencet 3,500.
j) Company paid on behalf of Krishna Mediclaim lnsurance { 4,000 P.A,
Employment tax t 2,400 P,A. and Life lnsurance Premium t 1 ,500 P.A.
 ilil iltlililtiil tiltlilt
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NS - 438
V 56
Semester B.Com. Exam ination, Novem ber/December 2016
(2016 - 17 and Onwards) (CBCS) (Fresh)
Commerce
5.3 : INCOME TAX
i-6rr{S
i/ ---'-l
Time : 3 Hours Oi -// -\

lnstruction : Answers shoutd be written either in English or

in Kannada.

SECTION _ A

1 . Answer any f ive sub-questions. Each question carries two marks. (5x2 = 1 0)
a) Define Assessment year.
b) Mention any two examples of exempted incomes.
c) What is Standard Rent ?
d) Expand CBDT and pAN.
e) Give the me.aning of salary for the purpose of calculating exempted RpF
contribution by employer.
f) What do you mean by Agricultural lncome ?
g) What is Capital expenditure ?

SECTION _ B

Answer any three questions. Each question carries six marks. (3x6 = 18)
2' Mr. Kumar is a non- government employee getting pension of Rs. 16,000 per
month from a company. During the previous year 2o1s-16 he got his
%td
pension commuted and received Rs. 9,84,000. Compute taxable pension
forthe
Assessment Year 2016 - 17.

P.T.O.
 NS - €8 -2- ,il1ilrilril,**ril,,,,
3' Mr' Ramesh is a citizen of America comes
to lndia on 20-3-2015 for the
time and on 01-09-2015 he first
left lndia and went to Nepar
on a business trip. Again
he comes back to lndia
' on26-02-2016. Determine his
residential y'E'sv forthe
-.-' status
Assessmentyear 2016_17. 'v'

4' state whetherthe following are

agriculturalor non-agricutturat lncome.
a) rncome from agricurturar rand situated
in Austraria.
b) lncome derived from sale of seeds.
c) rncome from sate of forest trees
of spontaneous gro*h.
d) Lease rent received from tand given to tenants for
agricurtural operations.
e) rncome derived from rand used
as stone quarries.
f) lncome from sale of plants from
nursery.

5. Explain the Canons of Taxation.

6' From the following information

compute Net Annuar varue of
House property for
the A.y. 2016 _ 17

MuniciPalvatue Rs. 1,oo,ooo

Fair Rentalvalue
Rs. 1,BO,OOO
Let out (per month)
Rs. 16,000
Standard Rent
Rs. 1,2O,OOO
Unrealised rent for one month

Municipartax paid by owner of

House property Rs. 20,000
Municipal tax paid by tenant
Rs. 10,OOO
 ilililil ilililtililil tilt
r rililril -3- NS - 438
SECTION _ C

Answer any threequestions. Each question carriesfourteen marks. (3x14 = 42)

7. Mrs. Smitha is working as Sales Executive in Maruthi Suzaki Ltd. Kolkata and
her salary details are as follows for the previous year 2015
- 16

a) Basic salary Rs. 21,000 per month

b) Bonus equalto two months basic salary

c ) Commission 3% on sales (During the year she reached sales tiarget of Rs. S,0O,O0O)

d) Dearness allowance Rs. 7,000 per month. (Eligible for Retirement benefits)

e) Medical allowance Rs, 1,400 per month. (Medical expenses Rs. 15,000 p.a.)

f ) Children Hostel Allowance for her two children @ Rs. 500 per month per child.

g) Children Education Allowance for hertwo children @ Rs. 400 per month per
child.

h) RPF contribution by the company Rs. 6,000 per month.

i) RPF contribution by employee Rs. 5,000 per month.

j) lnterest credited on RPF @ 1 1% Rs. 44,OOO.

k) She has been provided with company's owned rent free furnished house in
Mumbai and cost of furniture provided Rs. 60,O0O.

l) Mrs. Smitha paid her professionaltax Rs. 2,400 p.a.

Compute Taxable Salary for the A.y. 2016 - 17.

NS - 438 -4- I llilllll lllll lll lllll lllll llll li

B. Mr. Akshay furnishes the following particulars of his income for the previous
year 2015-16. Determine his taxable income for the A.Y. 201 6-17. lf his
residential status is

a) Ordinary resident

b) Not ordinary resident

c) Non-resident.

i) lncome from business in Hubli Rs. 1,00,000

ii) Profit from business in UK controlled from lndia Rs, 60,000

iii) lncome from House Property in Japan received there Rs. 50,000

iv) lncome from business in lndia received in Pakistan Rs. 30,000

v) Salary received in lndia for service rendered in USA Rs. 70,000

vi) lnterest on deposits with SBI in Mysore Rs. 20,000
vii) Profit from business in Singapore controlled from lndia (%'d received in lndia)

30,000

viii) Past untaxed foreign income brought into lndia Rs. 8,000

ix) Dividend received from a domestic company Rs. 5,000

x) Agricultural income earned in Nepal Rs, 25,000

xi) Commission received in lndia for service given in Japan Rs. 10,000

xii) lncome from profession in lndia but received in France Rs. 10,000
il Iilt tiil|ilIililtfft
NS - 438

9' Mr. Shankar is the owner of three house Properties in Bangalore and let-out
all
the houses throughout the year

Particulars House -A House - B House -C

(Rs.) (Rs.) (Rs.)

Fair Rent 1,80,000 1,50,000 1,20,000

Municipal valuation 1,50,000 2,00,000 1,00,000

Let out (per month) 20,000 15,000 25,000

Use by tenant Residential Off ice Residential

Repair charges 10,000 40,000

Collection charges 20,000 5,000

lnterest on loan :

a) For construction 1,00,000

b) ForMarriageof daughter 60,000

c) For repairs 10,000

Municipal tax is 10% of Municipal valuation. Municipal tax of House A was

-
paid by owner but Municipal tax of House B was not paid upto 31st March
-
2016 and Municipal tax of House - c was paid by tenant. The House c was
-
remained vacant for 2 months.

compute lncome from House property for the A. y. 2016 1 T by making

assumption housing loan inrespect of House A and C was taken after 1-4-1ggg.
NS - 438 Illlililt]tililtilfiililtliltfl

10' Mr' Yadav is an employee of state

Bank of lndia Bangalore and he submits
the
following information relevant for the
A.Y. 201 6 - 17 .compute his taxable income
from salary :

a) Basic salary Rs. g,000 per month.

b) Dearness ailowance Rs. 1,500 per month (does

not form part of sarary).

c) City compensatory altowance Rs. 300 p.m.

d) Bonus Rs. 10,000 per annum.

e) conveyance ailowance Rs. 2,000 p.m. (60% spent for office

duties).
f) House Rent altowance Rs. 5,000 p.m.

(Rent paid by employee Rs. 7,000

p.m.)

g) Payment of LIC premium by SBI Rs.

4,000 p.a.

h) services of sweeper paid by sBr Rs. 200 per month.

i) Leave Travel concession Fls. 5,000 (First

time in current Block period).

j) Fleimbursement of gas, electricity and

water bill by the sBl Rs. 2,500 per annum.

k) RPF contribution by the bank and own contribution

of employee 14% ot
salary.

r) lnterest credited to RpF at 1 4"/oRs. 1 4,000.

m) Professional tax paid by yadav

Rs. 5,000.
llllililil I l; lf,lllillliillllll
NS - 438

1' Mr. Suryakantha has three houses in Mandya and particulars of which
1
are i

relating to previous year as under :

Particulars House - | House - ll House - lll

(Rs.) (Rs.) (Rs.)

Use of House Let out Let out s.o.P.

Standard Rent 1,50,000 2,00,000
.

Municipalvalue 1,OO,OO0 3,00,000 3,00,000

Fair rentalvalue 1,80,000 1,90,000 3,50,000

Actual rent per month 15,000 20,000

Municipaltax paid 10% of M.V. 10% of M.V. 10% of M.V.

Repaircharges 2,000

suryakantha borrows Rs. 3,oo,o0o at 20"/" per annum from the bank for
constructionof House-lll. (dateof borrowing0l-06-2008,dateof repaymentof
loan 10-5-2010) construction of all houses is completed in May 2013.

Determine the taxable income from house property for the assessment year
Ifiililttilil ]til]tililfltll] sN - 497
V Semester B.Com. Examination, Nov./Dec. 2017
(Repeaters) (2014-15 and Onwards)
COMMERCE
5.3 : lncome Tax -I
Time : 3 Hours Max. Marks : 100
lnstruction : Answers should be written completely in Englishor Kannada.

SECTION -A
Answer any ten sub-questions. Each carriestwo marks. (10x2=201
1. a) Mention any four cannons of taxation.
b) Who is a deemed assessee ?
c) What is gross total income ?
d) Give the meaning of agricultural house property.
e) What is capital receipt ?
f)
State any one basic condition for determination of residential status UIS 6(1).
g) Mention any two incomes which are fully tax free.
h) What is commuted value of pension ?
i) What is annualvalue ?
j) What is unrealised rent ?
k) What is standard rent ?
l) State the deductions from gross salary U/S 16.

SECTION _ B
Answerany 4 questions. Each carry 8 marks. (4x8=32)
2. Mr. X an Indian citizen left lndia for USA for employment on 12th September
2015. During the financial year 2016-17 he came to lndia on a visit and stayed
here from 1Oth November 2016 to 31 $ December 2016. Ascertain his Residential
Status forthe A.Y. 2017-18.
3, State whetherthe following are agricultural or non-agricultural incomes.
a) lncome from house property situated on agricultural land.
b) lncome from sale of trees of spontaneous growth.
c) Profit on purchase and sale of standing crop"
d) Salary of a manager of an agriculturalfarm.
e) Dividend from a company engaged in agriculture.
f) lncome from sale of plants from nursery.
g) lncome from land used for grazing of animals used for agricultural purposes.
h) lncome from land used as stone quarries" p.r.o.
sN - 497 rtilrilililtlilffiflt]iltilll]

4. Mr. X retires from service on 31't Dec. 2017 after serving lor 25 years and
7 months with a company. His basic salary at the time of retirement was
t 15,000 p.m. and D.A. t 3,000 p.m" On retirement he received a gratuity of
{ 3,00,000. Compute the taxable gratuity for A.Y. 2017-18, if he is covered under
Payment of Gratuity Act 1972.

5. Calculate the Net Annual Value forthe house whose particulars are given below
for the A.Y. 2017-18.
MunicipalValue 1,00,000
Fair Rent 1,20,000
Standard Rent 1,10,000
Actual Rent 1,50,000
Unrealised Rent 25,000
Municipal taxes paid 10% of MV

6" Mr. Rao is employed with a public company in Bengaluru. He received the following
from the company.
a) Basic salary t 30,000 p.m.
b) DA { 10,000 PM (50% enters into retirement benefits)
c) Education allowance of his two children at{ 200 p.m. for each child.
d) Travelling allowancet 4,000 p.a.
e) He paid profession tax{ 1,000.
Compute his taxable salary forthe A.Y. 2017-18.

SECTION _ C

Answerany 3 questions. Each carries 16 marks. (3x16=48)

7. Following are the particulars of income of Mr. Gopalforthe P.Y. 201 6-17. Compute
his total income for the A.Y. 2017-18 if he is
a) Resident
b) Not ordinarily Resident
c) Non Resident.
a) Profit from Business in Bengaluru { 60,000
b) Profit from Business in Pakistan t 80,000
c) lncome from house property in USA received thereT 1,00,000
Illltillililtil ll]tllllt illt llll sN - 497

d) Dividend from lndian companyt 30,000

e) Agricultural income from Mysore{ 50,000
f ) Profit from business in USA controlled from lndia{ 1,20,000
g) Profit on sale of building in Nepalt 90,000
h) lncome from house property in Mumbai received in Englandt 75,000
i) Agricultural income received from Pakistan t 1,80,000
j) Share of income from HUF{ 30,000
Mr. Harish is an employee of New lndia lnsurance in Mumbai. The following are
the particulars of his income :
a) Basic salary T 20,000 P.m.
b) DA T 10,000 p.m.
c) House Rent Allowance t 8,000 p.m. (Rent paid by Mr. Harish is T 9,000 p.m.)
d) CCA t 500 p.m.
e) Entertainment allowancet 1,000 p.m.
f ) Hostel allowance { 500 p.m. per child for two children.

g) He is contributing to RPF at{ 30,000 p.a. His employer contributes the same.
h) lnterest on RPF balance @ 10% is t 15,000.
i) He is provided with free lunch in the office premises during office hours. The
cost per lunch is t 50. The lunch is provided for 200 days.
Compute his income from salary for the A.Y. 2017-18.

9. Mr. Dinesh is the owner of 4 house properties in Dharwad whose particulars are
given below:
House1 House2 House3 House4
Municipalvalue 60,000 80,000 90,000 1,20,000
Fair Rent 75,000 90,000 1,00,000
Actual Rent
Municipaltax paoov ';?ffi ;;fil 'fff:;
10% of M.V. owner owner owner tenant
Repairs 5,000 8,000 9,000 10,000
lnterest on loan 6,000 10,000 5,000
How used self used for own letout for letout for
occupied business residence shoP
sN - 497 ifiilililililililItililfltfft

10. The following are the particulars of the incomeof Mr. Pradeep for the p.y, 2016-12 :

a) Basic salary T 25,000 p.m.

b) D.A. T 6,000 p.m.
c) Bonus equalto one month's basic salary
d) Conveyance allowance{ 5,000 p.a.
e) He is provided with a furnished accommodation owned by the employer in
Bengaluru. The cost of furniture provided is? 20,000. The employer deducts
T 1,000 p.m. towards the accommodation.
f) The employer paid the income tax of t 3,000 of Mr. pradeep.
g) He and his employer contribute @ 1SY" of his salary to his R.p.F"
h) lnterest credited to the RPF account at 10% is T 90,000.
i) Professional tax paid by Mr. Pradeep is t 3,000.
Compute his income f rom salary for the A.Y. 201 Z -1A.

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i9\/ru.

g) dori CIonor:g dnood;d Cndenddn add; ercno$dddleq&.

h) 0d,9 aodrdCr ect$C)d dod aoCded: ?
i) a;oard dPe.r, .todded.: ?
j) ddoenrld uoarl .todded.:?
k) $dnea zro&ri aodded;?
l) dfiv 16d saC;e dedd dodaod &edud:oad dadrlddle*:,.
|fiilililrff lilllililtiilililil
+s ss - 497
V Semester B.Com. Examination, Nov/Dec. 2018
{2016-17 and Onwards} (CBCS} (F+R}
COMMERCE
5.3 : lncome Tax - |
Time : 3 Hours Max. Marks : 70
lnstruction : Answer should be written either in Engtish or in Kannada.

SECTION -A
1. Answer any five sub-questions. Eaeh sub-question carries two marks. {5x2=10}
a) Who is a specified employee ? _z,41=\*
b) Who is a person ? /pp-{o\
c) Mention any two income tax authorities.
// bY Y*\
d) what is totar income ? ilh'r---_J*I
e) What is un-realised rent ? \.f---7_ /l
f) State the meaning of the term 'Deemed Assessee,. \ t,"Yt V
g) What is pre-construction interest ? N::f
SECTION _ B
Answer any three questions. Each question carries six marks. (3x6=18)
Z. Mr. Rajesh an employee of ABC Co. Ltd. Bangalore, retired on 31", May
2A17 after completing 28 years of service. His monthly pension was fixed at
Rs.20,000. He commuted 60% of pension on 1.,Jan.20lB and received a
sum of Rs. 5,40,000 as commuted pension. Calculate his taxable commuted
and uncommuted pension for the assessment year 2018-19.
3. Mr. Satish an employee of PQH Co. Ltd. Mysore, has left lndia for the first time
on l6thJuly 2017 tor higher training in U.K. Calculate his residential status for
the assessment year 2018-l g.
4. Briefly explain any three cannon of iaxation.
ti
Fiom the following information compute net annual value of house properly of
Mr. Ganesh for the A.Y. 2019-19.
Fair rental value Rs. 1,80,000 p.a.
standard rent Rs. 1,62 ,000 p.a.
Rent received Rs. 16,500 p.m.
Unrealised rent for the year 2017-18 Rs. 24,750
Loss due to vacancy Rs. 16,500
Municipal tax paid by owners Rs. 21 ,600 being lo% of municipal value.
P.T.O.
ss _ 4s7 .2. llilililmlllltlllllllllllllllll

income'
6. state whether the following are agricultural or non agricultural
a)lncomefromsupplyofwaterforagriculturalpurpose.
b) Profit on sale of agricultural land'
c)lncomefromfarmhousesituatedinagriculturalland.
purpose'
d) lnterest received from loan given to farmers for agricultural
e)lncomefromlandusedforagriculturalpurposebytheowner.
0 Salary received by an of a company engaged in agricultural
"*pioy""
oPerations'
SECTION _ C

Answer any three questions. Each question carries

fourteen marks' (3x14=42)
year 20'17-18'
7. sri Ram submits the following parliculars of his income for the
Amount (Rs.)
a) lncome from house property in Hasana received in Paris 6'50'000
b)Salaryincomefromanlndianemployerreceivedin
months 5'000 P'm'
NewYork for two
c)lncomefrombusinessinMumbaireceivedinBangalore
$A%remitted to NePal)
2'50'000
d) Dividend from foreign company received in chennai
1,80,000
e)lncomefrombusinessinHongkongandthebusinessis
controlled from Tum kur {25% received in Tumkur) 15,00,000
f) lnterest on post office S.B. Alc in Bangalore
17,500
(account is held in joint names)
g) lncome from agricultural land in Sri Lanka
2,05,000
(50% received in lndia)
60,000
h) Share from H.U.F.
6,00,000
i) Royalty received in lndia for the services rendered in Japan
i) lnterest earned on U.S' Government Bonds received
1,75,000
in London
7,080
k) lnterest on SBI deposits received in Bhutan
6,10,000
l) Past untaxed foreign income brought to lndia
m) lnterest on housing loan given to Mr. X for construction
65,020
of house in Bangladesh received in Bangalore
Calculate his Gross Total lncome for the A.Y. 2018-19 if he
is

a) OrdinarY resident
b) Not-ordinarY resident
c) Non-resident.
iliiilt llill llt llil lllil llll llli -.)- $$ -- 4S7
B. Mr. X, handicapped person"working in ABC Company Ltd.
a physically
Bangalore has furnished the following details of his ir,coffi€ for the year
2A17-18. Compute his income from salary for the A.Y. 2018-19.
a) Basic salary Rs. 40,000 p.m.
b) Dearness allowance enters into retirernent benefits Rs. 24,000 p.m.
c) Fixed percentage of commission on sales Rs. 1,500 p.m.
d) Bonus Rs- 65,00O.
e) HRA Rs. 12,5(D p-m. (Rent paid Rs. 10,600 p.m.i
0 Transport allowance Fls. 4,000 p.m.
g) Reirnbursement of medical expenses Rs. 17,500 for treatment taken in
pivate hospital.
h) Management contribution and own contribution to RPF is 15% of salary.
0 lnterest credited to RPF is Rs. 1 1 ,000 at 1 1"/" ?.a.
D Professional tax paid by employee is Rs. 400 p.m.
k) He is provided with more than 1.6 liter capacity car by the company for
official use. AII the expenses including salary of the driver are met by the
company.
l) Children education allowance Rs. 600 p.rn. per child for two children and
children hostel allowance Rs. 1,000 p.m, for two children.
9. Mr. Praveen is owner of a house property in Mysore. The construction of the
house was completed on 18fr July 2016. He took a loan of Rs. 8,75,000 from
Canara Bank on 1"t Nov. 2A14 at 11"/" g.a.The loan was outstanding during
the year 2017-18 to the extent of Rs' 5,00,000. From the following information
calculate his income from house property for the A.Y. 2018-19.
a) Municipal value Rs. 1,44,000 p.a.
b) Fair rental value Rs. 1,80,000 p.a.
c) Standard rent Rs. 1,20,000 p.a.
d) Rent received per month Rs. 18,000.
e) Municipal tax paid is 10% of M.V. (25% paid by tenent).
f)Loss due to vacancy Rs. 27,000.
g) Unrealised rent for the year 2A17-18 Rs. 10,000.
h) Unrealised rent of 2016-17 was recovered during 2A17-18 Rs. 16,000.
10. Mr. Prakash is the owner of following houses in Bangalore and ihe particulars
of which are relating to previous year 2017-18.
Particulars HouseA House B l-louse C
Fls. Fls. Hs.
1) Municipal value 1,20,000 "1,32,000 1,44,000
2) Fair rental value 1,50,000 1,60,000
-1,50,000 1,75,000
3) Standard rent 1 14,000 1,60,000
 ss - 497 -4- Illil1til lliltlil tiiltiilil liltllil
4) Nature of use Let out for Let out for Self occupied
Residence Business for Residence
5) Rent receirred (p m ) 15,000 19,000
6) Municipal tax paid by owner .

a) For the year ZO16_i Z 6,000 6,600

b) For the year ZA17_18 12,000
7) Cost of repairs
13,200 u,4a;
18,000 12,000
B) lnterest on loan for construction 45,000 60,000 2,25,000
9) Unrealised for the year 2017_18 '12,000
18,000
10) Vacancy period (month)
1 1) Year of completion
22
Cornpute the Taxable lncome from House Propen,,, ior
2014 2013 201;
the A.y 2019-1g.
11. From the following information calculate the
income frorn salary of Mr. Anand
.

for the A.y. 2018-19.

1) Basic salary Rs. 40,000 p.m.
2) Dearness alrowance 60% of basic forming pan
of sarary.
3) Commission Rs. 18,000.
4) Bonus Rs. 60,000.
5) Employer and employee,s contribution to SPF is 15%
of salary.
6) lnterest credited to SpF is Hs. 12,000 at lAYo p.a.
7) CCA Rs. S00 p.m.
8) Medical allowance Fls. g00 p.m.
9) He is provided with a rent free furnished house
by the employer for which
his employer paid a rent of Rs 5,000 p.m.
to the owner of the house. cost
of furniture is Rs. 1,20,000.
10) He is also provided with a car less than 1.6
litre capacity by the ernployer
both for personal and official use. Ali the
expenses of the car including
salary of the driver are paid by the employer.
11) Free telephone at his residence by the ernproyer
varued at Rs. 12,s00.
12) Professional tax paid by him ns. +SO p.m. - r
13) Gift voucher worth F{s. 12,s00 were issued
by the emproyer.
.J:Jr " ^: o
sN99
.t
(5c"J+,
e.Ir
Sqrod -a
1' cj:adcndo" wco,l. ga wd-i,dri add: eoddd;..
"t -*c-duJurr
a) 0%d eadC acCC Crlcb ?
(5x2=1Q)

b) dd ocdd o3ncb ?
c) cJnd;oaddo odc> ercroc$ dorr eea-oodeJrj: apa.
d) D{d er6oo$ ;cdord: ?
iffiililililil|ilIilfiilililff .5- ss - 497
e) ddoendd zoari ;oCded:?
f) 'dorldxbd riron; i ;cdC cirrdJ ?
g) dqd Ddnrr:i i;:oa3d u& .rodueab ?

Aqrarl- ?,}

a:rAa;a? r-t= ==-gir -r;iU!;.

Be duJ qrcb ecddg;. (3x6=18)
2. ABC d:€
t;*'*ef dcd'dodo, Ecd orddind $e croceo. oor^pdd: oa:aod
31-5-2017 J:*, iij
aiococnod. & dodno$o_add:28 ddr dedoS:Qd_o;r&qc.
"a*d dr:,3 a:-rtc:d1dro. 20,000 odadaderAd. omod 1-1-za1g docj: tJc5
dedd 60 dq. icdric$dl doder,e,, dro. 5,40,000 ddq ialamod. dorl dir
2018-'19 t[ ica:Q:,Cod dorlrl u$dc>d edd dod8rd m/ro u*o;.grU ,bcCr3
dmddldcdAa'*.".0
3' PQR doin &c$tud ce*oDd otddmd
$e ieearCd* droded asorl o.rod
16-7-2a17 doeb qDCd dtddd: zruu"ru.K dedd, ctd ddeiesri dnedd:. add &aaa

Aeo$dlgori ddr 2018-19 &frre:r.

4. cindoaddre d:o& dori *erooddddldoffi"sn odo:r.
5.
= ddnd adCdpod dorl ddr 2018-19 { g* ddeddCd doci eix,oi: u*gemard
=i dd1 do C:ao a c:; o.
:-r,

= ==,d eJD&ri dn. 1 ,80,000 ri. t.o

:.:. iJrd a:;Ari
=i'd-
. 1 ,62,000
d.e iirt.
*::: dra 16 5oo
=.tg.godcrn
d

20.,7-18 J ddasrrld ?rJarl dfr.24,250.

=:l =-::: i{do. 16,500.
i; a:; =r:: ddiqro oorl cro. 21,600 "acb dedd 10- gdiqr,-?- -J. i;j:oni.
rire"dd
6. * defi- ==:lri9: drC;oob esemo$dOe uSm eo;pFe g*:Jo.
.'r rtrax) dDad afi.jio. l;cd
! <-
^\ ir==
a) ^---
llj--r
b) {,* ?it ,.- a:- , :3 i ucC enS. =acJ:.
=
c) dre* e.J,r;::: C;= i ;bd39Jcd e,rcd smo$.
=
ddDri ti"":; = ll:= ^:i :;G.
d)'U€_c3
e) dr;"rian l; e -:i:-i:::i; y;iairoeA:,docd erod tJcnoj:.
==
f) {d;oc:: ic1;- i=;l;
=j; ic?;d.
 i lllllll lllll lll lffi lllll llll llll
-6-
ss - 497
E.
^^-,)
eJCPdl I - ^r

doarae::''::oddJ:' (3x14=42)
oJnCcaCdo dlc$ ddlf*d erugo&' Es 6dJ
7.2a17.1Bdedearai,:dd.rdO-}todfe,#deJErJcJ+ii*dcdo6d'
dclmrorde- tr1doie;and'
a) maddd d:doe:od ucd seiao$ d,o. 6,50,000
dne)dDcd ddd icudd gesc> god*rl do. 75,000
b) d,o,dJ}r"r.ie)-urodgeo$
add: gorlqrcn.
do' 12,50,000 (qddo-eedd 40cd}
c) cr:ozl$:de)&d drdaadnod zrcd ermcr
od 0- 1 oi ea n o'
deaad d edd* drro r oo:d@ nd) el c ddo ed

d)ed(sdcd&opcducdenqncddeoddlC{de-ledoadlCG'1'80'000'
(rlddO-dedd
e) aeoff.mcrf. deddepd d,dardncd
gJoc
=*":, ca. 15,00,000
2Sdilumo$dd:o$d:dood0-1edoi,s.-nd).dsd,dmd,*dl**doo&cd
edrdd dnde;and'
(€{ sj}tic3:
{) uozs dgieoo$ S.B. ssdor:cd uod;"acbdiuior{drood0-ledoed*
t;ot^3 diod0-rad) Co' 17,500'
9)}ee.:oddedde}idd,at/oa:oi:odz;ccgmc;d,4.2,05,000(e.dde-dedd50
ddlu m o3:ddlzndd dedd O-:1 edeid)'
h) b.e.d.:c. ood ucd mcl Ceo d't' 60'000'
6,00,000'
i) rmf dedde-dond:d xednah pcddo- 1doa,d enrdd d"o.
dedd0- ledo:"d
i) U.S. idadd naod$d c>ed u:cd ugcJ:C1oodf,
Co. 1,75,000.
do' 7'080'
k) sBl deds aled ucd unldeaajQdeof dtddo- ledo:'d
l)dortrl*ddddddo$Dde$=**l'*.t1?pdddedd*doecido'6'10'000'
m) zmorldeddCI-d:do3:d1dqu: X edoil
doalloec as:ee,q z.lcc u,.&*d'.dq
zicrldoodO- 65' 020'
ledoldldLo' z'cd: icdrjrde}
dori ddr 2018-19 d* de,::-d edd z,ui:*umo$Jdldoc>&"pci:o.
sdd:
a) roqodsa ca!tsrCrdnmJ
b) xaqndstd%d eaatuCnnm;t
c) ec!il?tu zPCeec:cnncg{
Iilllllillllll lil ilil rl i lll lli -7- ss - 497
B. X e=** =:i:-=: i.*o:lnil ABC dcdi icrld"oodt.$dCmfl tie;i d>d:$moo.
c;; ==:- iici:dd: eQrd ddr 2017-18 de_.* 6*dcCc9d.
a) god9rt do.40,000.
=r1 =:=i
b) z)--: *13,i-e.24,OA0 dDftd (e{g icr-$d pdaand).
'-- i=? Cnm*d
c) i-;g aa
abed do. 1,500 drirrd.
::?:i:f dla. 65,000.
cjr,
e =- E&ri dJ, &. 12,500 r-Er,i (;::n g[-J dr. 10,600 ,lll,d)
: | ^,-.JvU
--^- - r1tJ9, --:Jd
^j-, :"!v d.t. 4,000.
g) ieid idrie t -4d $d; md,g d,o. 17,500.
ulSiC;O_z5sdr-\in
=in
ny *eddd dedd 15 ddidroddl"J* aisi r,Cd dnSd$ $;b;nn RPF andrl
J
JJL)r)g^rLJJU.
-Joo - o
i) ue. 11 dcd do. 1,000 zJ&c$dr RPF ;;in 1 :d>,mItd.
j) ipdd$ dqd {,9 iu i; r,d d-t. 400.
k) 1.6 el. ;a;bi.--- --1---.. . U:vi)-
Oj ;J-iii -J-- Oq-iun- :-.-: .^-Uil
-).:.-' ^-- O:-:,:;
-, titd=h;. g3 mui;;*:;-
JF
a- o.yJ -J^a .:J ?o I t^+^ - +w.glcJ
+)g vJ:J ^lv(!:/ ^JLUii J-j!:--u-/, ^-- ^tJCi,

'/l) ;i=?
---:- :-D.?D.i --f czJJ:
-----a---{' zjg^ - -;'-- 5:d€i1
--- i Js d.r. 600 ;::.3i:i ail: ;f8,d
d ;8"&r
J ,

"^r'J ^'-
-a-i-*w
arr, -Jild
* d.t. 1,000 ;:i;'*-d; 5:6,;. i"t3=n;.
aJ 6
rie n d*r 201 B-1 9 r, ei.o::=,tCod "add Cedd sa:i:ii; d:c:3,ac:.:o.

9. ,q-^!?t,dCI_5;ss ;ce;5J: r,-:*: i;im dnOgcnn$=; a $ic$ iCnrrdd;

CIasccd 18-7-2A16 doci -*pr:rdin+3rmod. + JXc;:t u?- &aod 1-11-2014
dccb drdes') 1'1 dcd dird Co. 8,75,000 draddl:oe;d CnidO_ddno znrctlcd
J-9^-J
tdocn,.o. J-J-
$ci: md3d
- CeaC sae;d droC 2017-18 dO_dra. 5,00,000 ddgeQ.
S ddnd adci)rlecd dorl dir
2018-19 u{o:;icdcd €,Cd tr.3$ eren$ddi
J^J-s c ^6\A
ouL$Jco09u\,1-'u.

a) CddtJ dFe-:, do. 1,44,,000 ddr{.

b) :nro3:end zoarl dSe, do. 1,80,000 dir*,
c) ier{Fnd zmeri d.o. 1,20,000 ddrt*.
dr :a Bri u.loe,cJ:-() dn,ld do. 1 8,000.
e/
=i."J d;Cd?i
dod dedd 10 ddlCdiqic$ C,{ejrC
=:e
c (iedd 25 zmaddd dticDCJ).
f) sa3 *dc3: udp*: did". 27,0A0.
s) 2017 -18 d ddomddob*d uiaad do. 1 0,000.
h) 2016-17 d dinenr{dcr:d:# ?Dorio$dl 2A17-18 dO_dd0C"dra. 16,000
ss - 497 I lllllllllllll lll lllll lllllllll llli

10. zJoddooCCI-$e qimr ooz^pdC> * ddnd *ddd dn0dmhmc.

.,
di Edd t"s**
ado$rld,: 66r*-** 2a17-1 I { r foe;ofriuld:ld. ei

ado$rld) u$d A *dB *dc

rla
l,\J 0.

1) ddi# dFou 1,20,000 1,32,000 1,44,000

2) orc:md t,oan iio, "1,50,000 1,60,000 1,75,000
3) pordCnd z:pan 1,44,000 1,50,000 1,60,000
'cJv qJ J^f\i(?
4) $d erudol,een:rd oe6 'ui691)
-- a.9
^- Lgl I
^J
O
J J--).3
:,Jr^JO, C^1"C9( )]'\J u, C^Jed U.
+
-JJ -Ji
5) zoari ?rcBCl(*r:rd ) 15,000 18,000
6) utl)e)d.t dqC ddizj dori:
a) 2016-17 dird 6,000 6,600
b) 2017-18 ddrd 12,000 13,200 14,40;_
z) d:d1s)uJ:r 18,000 12,000
B) $d dqp: c"l)cd :;re-:d a3:ee)d z;e- 45,000 60,000 2,25,A04
9) 201 z-ia sliei
a d-^loe dndendd 12,000 18,000
10) anO *dcl cCQ (,3orldO-) 2 2
11) abdo$d: dt:d ddr 2014 2A13 241 1

dorl ddr 201t-i9 d* et{maodrdd dJd umc;ddqdod:er>ao::o.

"JC
1 1. de ddnd cdo$rleod $e esdor edd rjo*"d um$ddldorl ddr 2018-19 dd
etC oJ:amrbdcd od:eu a o}:O.
d

1)*d:loe; dedd dnPrd dro. 40,000.

2) 6u:,dd, dedd 60 (iot dd ePdmnd).
3) dea_si dro. 18,000.
4) dneds' dro. 60,000.
5) deddd dedd 1 5 d-.;.r1drcdQ g. scjcd m/ro CD€)dd: $abman SPF sodri
ildeJ\9nL)r9. "dd
-Joo -J
6) dedesc 10odcd do. 12,000 uGol:d.: SPF s:ad'd aiuomnd:.do.
7) CCA Cn:,d dra. 500.
B) ;sd-Seni; Cei. *t&d dro. 800.
ejd :d
e) mAn dbg $-3$&
tdd CDOd;r i€&d)^, ;q ab-n;$le3$ dn. 5,000 *-rr,3
dead.t ec drCcb ciaul>.iDn dn:;-ap. Seuee*ddrad 5q.fu. 1 ,20,000
10) 1.0 et:6Jnd aai:dr drc&d ao*e1:dd
cro*o, e* E7 t"{cr*o =-!
$e udod edd: dqio m/ie {ce
tfe;u ttioinenil$m.o =3 auJ:-'t;: J--:i
zsaodd icud ibd tidd drEOd& des&@d.
eJ -r.
11) ubdd> e-wz3dan h do dap d o$q *f .fu hie-:: dri OddJ a3:) ed $zJ: -
e

dro. 12,500.
12) $e sdoo' erddJ dqd
dori dro. 450 dD&d.
{g
13) .add *EOdd: $e esdoo"ri droq&d drac:rtc$ i$dd: dro. 12,500.
 UG 169

2021
V Semester B.Com. Examination, March/Aprll
(CBCS) (2016-2017 and Onwards) (F+R)
COMMERCE
5.3 Income Tax- I

Max. Marks 70
Time: 3 Hours
Instruction: Answers should be written completely in Engllsh
or in Kannada.

SECTION- A/DDR -
carries
1. Answer any 5 of the following sub-questions. Each sub-question
2 marks (5x2-10)
n s odoaJmdda5 va-adriei evTDA. aBaiaoab eva-aeno 2 eo8rieb:

a) Mention any two Special Allowances.

LARE TC

b) Expand DTC and TRO.

DTC b TRO O
c)Who is a specified employee ?

d) What do you mean by Income ?

ono dotsdeab ?

e) What is preconstruction interest ?

) What do you mean by previous year?

g) What do you mean by Allowances?

osdeab ?

P.T.O.
UG 169 2

SECTION- B/D1»-
Answerany 3 of the following. Each question carries 6 marks (3x6=18)
den cdaosde 3 areR evzoa. aa aoi6 sodrieb:
2. Mr. Prakash a resident of London came to India for the first time on 1-4-2013.
He stayed here continuously for 3 years and went to France on 1-4-2016. He
however returned to India on 1-07-2016 and went to Poland on 1-12-2017.
He again came back to India on 25-01-2020 on a service in India. VWhat is his
residential status for the A. Y. 2020-2021?
r dd eod rbcdonzh ascb Omod 1-4-2013 do pt äot
236 eraATSd).
dbay 3 ad ai Opod 1-4-2016 dotds i 3oe.
o 1-07-2016 dotbd d eraA Omod1-12-2017 dozb zoreno
Soetoo. a 25-01-2020 dotb pdt sraDAddb. sd aF (A. Y.) 2020-2021

3. Mrs. Shantha owns a house in Bengaluru. The following information is provided:

Municipal value 4,00,000

Fair rental value 7,20,000
Actual Rent 4,80,000
Standard Rent 6,00,000
Repair charges 72,000
Municipal taxes 40,000
Interest on loan 60,000
Find out net annual value of Mrs. Shantha for the assessment year
2020-2021

4,00,000
7,20,000
4,80,000
6,00,000
72,000
40,000
60,000
2020-2021 se do ssdr d ezab anArd a e s dordstoacoo.
 3 UG 169

4. What are the baslc condltions and additional conditions to determine the
Residential Status?

5. Mrs. Ranjitha is working in a company and

getting a basic pay of 7 8,000 p.m.,
D.A. at 20% of basic pay, Commission at 5% of basic
pay. HRA at 12% of
basic pay and bonus equal to two months of basic pay. She is residing in a
rented house at 7 1,800 p.m. Determine the taxable amount of HRA for the
A. Y. 2020-2021.

exba doc3dsdb
doddodb modbFddF&%Abepd.
aone aied7 8,000 a
8orer atdosoaood. dbE, , 20% aaoo sresdo, iar daoe iedsd) 5%
atdodoeo. abs nai daoo sUdo 12% abd ioes dooe irei
dd &oriesa, adriod»end. sasdo oar
abiodbo arnd a r r 1,800

2020-2021 dozdstoacoo.

6. State whetherthe following are agricultural or non-agricultural income

a) Income from supply of water for agricutural purpose.

b) Profit on sale of agricultural land in London.

c) Income from Dairy products.

d) Salary received from a tea manufacturing company.

e) Income from self grown forest trees.

sDe i d mas ndrneod wod e
f)Incomefrom agricultural land situated in Mysuru.
orocb a doacvotd wocd eny
UG 169
SECTION-C/apr-
Answer any 3 of the following questions. Each question carries
(3x14-42)
14 marks

7. Mr. Ram Furmishes the following information of income for the A.Y. 2020-21.
Find out his total income if his residential status is

a) Ordinary Resident

b) Not ordinary Resident

c) Non Resident indian

Income from House property in Hassan received in Paris 6,50,000.

i) Salary from an Indian Company received in New York T 75,000.

RTBeo dzRCDOT IO 7ovszozecnr,rdbxennT 75,000.
i) Income from business in Mumbai but received in Bengaluru7 12,50,000.

or atbo o t er aorkeabs0 Adorecnd 12,50,000.

i) Dividend received from a foreign company 1,80,00.
tes toDod TO: p T 1,80,000.
v)Interest on Post Office Savings Bank Account 17,500.
so o SB d c o d r e a t 17,500.

vi) Income from Agrciultural land in Sri Lanka 7 2,00,000 (50% received
in India).
ereosc z a a o d od ndr 2,00,000(50% d E T

vii) Interest eaned on U. S. Development bonds7 1,75,000.

U.S. ore oed wactood wod coy 7 1,75,000.
 UG 1 0

il) Interest on SBI deposit recelved In Bhutan? 7,000.

SBI dedrdotoord rend uacsoro, tasoMT, drtnv7 7,000.
lx) Past untaxed foreign Income brought into India ? 2,00,000.
dori wadatd voo teb smodbao yces, Voade ' 2,00,000.

)Income from business in Hong Kong controlled from Tumakur (25%

recelved in Tumakur).

(25% dsbenore doeDNS).

xi) Gift received from father 7 20,000.
Borctoot yedoAdervdsriod 20,000.
8. Mr. Kiran is working in a Private company in Bengaluru. He furnishes the
followinginformation
o Tstb so0zh Boadiorivoo evttn,ehocrhnd. 2020-21 t d r t

a) Basic salary 7 74,000.

ooe ioT 74,000.
b) D. A. 7 800 p.m. (Not forming a part of salary).
T800 3a 8orieri(rortd poriaRhe).
c) Bonus equal to 3 months basíc salary.
zinT 3 8orie done de.
d) H. R. A. F 800 p.m. (Actual Rent 1,200 p.m.).
oe cDai 800 p.m. ( n t nan ta. 1,200 z2 rer).
e) He and his employer contributes 15% of salary to R. P. F.
arerid 15% ado orin dozcdoo R. P. F. dob Deamd
) 4,200 at 14% P.A.
Interest on R.P.F. 7
R.P.F. bed oesi wa do. 4,200 14% P.A.
g) Children Education allowances 7 4,000 P.A.

h) Children Hostel Allowances { 4,000 P.A.

 8
UG-169

i) Conveyance allowances ? 8,500 (7 5,500 used for official use).

zrirs 8,500(7 5,500dab deed zdsod, uxeDn).
)Transport allowances 2,000.
or 7 2,000.

Profession tax paid by Kiran 510.

k)
ddsdb donT 510 DBAMO.

I) Lions club membership fees paid by the Company7 2,000.

oodo TRd ey T 2,000 doasncdbo 3nsBAdbgs.
2020-2021.
Compute his taxable income from salary for the A. Y.
do 3d 2020-2021 esadd soin scaddosd öed smodbasd dodbtaaoODo.

9. Mr. Maruthi owns three houses in Mangaluru from the following particularsS.
A. Y. 2020-21
Compute his taxable income from House Property for the
House II House ll
Particulars House

60,000 90,000 65,000

Municipal value
Fair Rent 65,000 1,00,000 60,000
Rent Received 88,000
Municipal tax paid 10% on

Municipal value

Repair charges 1,000 8,000 6,000

Interest on loan taken for house

construction 10,000 8,000

House used for SOP Letout SOP

&eodd a»dbadasdbaoorieooso 3 zbiodo ainOedoDNd). öddozdo3

pdodbD Deano:

60,000 90,000 65,000

65,000 1,00,000 60,000
88,000
 7 UG 169
ode dort 10% Hode atyd dbee
1,000 8,000 6,000
10,000 8,000
JDrirn
2020-21 de aor aadrd 8codboT aodbsdd ab sODOTS wotd soodb
Bocdbtoaobo.
10. Mr. Vishwas owns 3 houses. The construction of
which completed on 1-4-2019
Particulars House House lI House lI
Fair Rent
30,000 30,000 30,000
Pent Received
36,000
Municipal taxes paid 1,500 2,500
Municipal tax due 1,500 2,500
Repair charges 1,200 1,200 1,200
Nature of occupation S.O.P. Let out for Used for
residence own business
On 1-4-2018 Mr. Vishwas has borrowed a sum of Rs.
2,50,000 bearing interest
at 12% P.A. for the construction of this
building. Compute his taxable income
from House Property for the A.Y. 2020-2021.
8eodbosbn Adsdb 3 abiodb anOcdoohopo. Dmod 1-4-2019 docb dez DanFm

30,000 30,000 30,000

36,000
1,500 2,500
1,500 2,500
1,200 1,200 1,200

1-4-2018
do Aeod»s DRdST 72,50,000 DO 12% wan dddno.
abaioa dkzev weAd. 2020-20213e #o odr edd abssROdDOd uo
Dodbas) dordb&oacdo.
UG- 169

11. Mr. Subhash is working as a Manager In Kolkata. He received the following

Incomes for the A.Y. 2020-2021

2020-2021 wdb s Bidordod antododb, deand:

a) Basic Salary 7 15,000 p.m.
ao des7 15,000 ae Boriert
b) D. A. 7 5,000 p.m. (given under the terms of employment)
4 R 5,000 aa Borkeri (Totwets goriaonta)
c) Entertainment allowances 1,000 p.m.
adoo 7 1,0008 Borer
d) Medical allowances 7 500 p.m. (Actual medical expenses incured
Rs. 7,500)
deod 7 500 3 80rier (seodb Dzbr 7 7,500)
e) HRA R 4,000 p.m. (Rent paid for the house 5,000 p.m.)
do nai T 4,000 aa 8orier (jemtd unait 5,000 z 8orier)
) Car 1400 CC is used for official purpose.
0 1400 CC ejeo adamd tseond.
g) He and his employer contributes 15% of salary to R. P. F.
s3es 15%p masdb abah dospasbsdb A. P. F. Bo88 Dead
h) Free telephone allowances provided 3,000.
oTprd 7 3,000 evessoneTdoDnd.
i) Children education allowances 400 p.m. per child for his two childrens.

) Interest on R.P.F. T 7,500 is 12.5% P.A.

R.P.F. bed osT wa T 7,500 12.5% esndbas.

k) paid by Mr. Subhash.

Profession tax T 400 was

aorR 400 TbDadSTb DSBAdbapd.

Compute his income from salary for the A. Y. 2020-2021.
3oi ad 2020-2021 berbadod esd dorirR usadabs sos eotbar
BoT&oaoODO.
I ll]il| lllll il ililI lllll llll llll QP - 277
5s
V Semester B.Com. Examination, March/April 2022
(CBCS) (2016 '17 and Onwards) (F + R)
COMMERCE
5.3 : lncome Tax -|
Time : 3 Hours Max. Marks : 70

lnstruction : Answers should be written completely in English or in

Kannada.

SECTION * A
Sz;:ad *a

1. Answer any 5 of the following sub-questions. Each sub-question carries

2 marks. (5x2=10)

dsnd ohdeoddo 5 erud-Bd4rl*ri e,rDdOx,. $.ao3nod: erod-{,d*rln 2 sodrld:.

a) Define the term person.
eJ gJr^Jcr./q cJc',- aL/tj
c;,
! :"lua-t cw^J.

b) What do you mean by Assessment Year ?

<ion aar acooed: ?

c) State any 4 cannons of taxation.

Cndesaddra 4 dori dddd$& 99tu.
d) Expand CIT and CBDT.
ClT "bdJ CBDT &50fuO.
e) What do you fnean by Agricultural lncome ?

d.l seooS: aodded: ?

eJ

f) Who are the deemed owners ?

Gedf draed& aodd Crodr ?
@

g) What is standard Rent ?

A{ zraari oodded: t

P.T.O.
QP - 277 -2- lllllil[ liil i I lrill |lililtilil

SFCTIfiN -- H
Fra*J
c^rlPelll * -a
;J

Answer any 3 of the following questions. Each question carries S marks. (3x6=1g
d$nd Cngcnddro 3 dd4rigri erodo&.dg 6 e:;dfrqir.
6d*d
2' What are the different types of residential status of an rndivrdual ? How to
determine ?
aad zorioJ: &dJaxr:o*drl$ c$Dd)d ? edrlg$ deri ctfr. oxi:;{) ?

3- State whether the following are agricultural or non-agricultural income

* tcnd uoaoS:dd,l drdxnoj: abe drdxnc.:edd ererro$dqan aoda&.
i) lncome from Agricultural land situated in pakistan.
anExadd0pd d,a rt"ard)od uod qrcnoi>.
ii) lncome from sale of self grown forest trees.
ddqd. sode ai$d roBd hdrlgod uod enzp.
,.

iii) lncome derived from land used as stone quarries.

derl, rlednaoEog:od uod qrcDo$.
iv) lncome from sale of plants from nursary.
diroob0_LJdd d:diipod uod soooj:.
v) lnterest on loan given to a farmer.
ddderi doto*,xae.:d d:eeJ uod u6.
vi) Rent received from house situated in a village.
dg,oi:O_qcbd
90. d:dou>od uod zDari.
4' V,' Maruthi is-?l grproJqe in qlyqle. gg!1panv at Jaipur, drawing a Basic
3
Salary of { 35,000 P.M., ti.R. at 2o,b0o P_.M. trs%enters into retirement benefitsl
Commission at { 1 ,00,000 P.A, Bonus t 20O00, fr4eOicai Aln*"nce 1500 p.M.
t
Conveyance Allowance 1,100 P.M.
{(85{ spent for oificiaip*por"). He has
with a rent free turnisAbd house which is owiieri oy iompany.
9::iPfY,9S9
tne cost of fUrniture provided 75,000.
Compute the taxable value of rent free house for the Assessment year 2021
- 22.
Q,e.dnd:e"!{P $Pq? dr{ dod&o$o_ erudooen. edd ge &orte droe:
dedd do. 35,00o_drr*dgq e 20,000 eodqih tdeE& 75 dE CI;Jq dedddd:, eJd
aaEe.:c dricbdo.g;nrbAc$i dar.edaf dro. 1,oo,0oo ddrdo, fi^*$# uo. zo,6ool
15OO eortsrl. xart# dd, &. 1,100
$anfeocsE 4,e eorisc [dedd85 dab dqjeo
de.:{do usfo$caod]. z,rrari dbd dJdo$$, aedoedddearlsooari oeafr:od.
'adori 1 4
&edroedEdrori$ dJoo, dro. 7S,OOO.
Ed ddr 2021 - 22lzDari dbd abdo$ dFe,rrddl dod:&6obo. . l
I lililil1 lllll il M lllll llll llll -3" QP.

b. eompute tl-r* annual value of house property from the following information :

a) Municipal rental value 60,000

b) Fair rental value 82,000

c) Letout g,tl00 p.M"

d) Standard rentai value 70,000

e) MuniciPal tax Paid in P'Y. "

2019 - 20 11000

2A20 - 21 1 1000

e;i dsnd edddgod d:r e:xci: ?"ur"iil;.3*F-d sPon${ dod:h&c);o :

a) aPmdgd t,rJGrl dPo, 60,000

b) &s)d zroDri dJoe.r, 82,000

{,ts zmari Sorlgri

c) 9,000 P'M'

d) &ded dFe,:, 70,000

e) tocoi ddro -alxq sod rt{dr :

2019 - 20 11000

2A20 - 21 1'1000

6. Mr. Mahadev retired from service on 31-9-2020. His pension was fixed at
t 10,000
p.M. He commute s 3/+tn and receives 7,80,000 in the previous year 2020 * 21 "

Find out the taxable amount of cornmuted pension if

a) He is receives gratuitY
b) He is not reeeiving gratuitY.
),e d:ddeafdddr gdldoxaod orood 314-2A20 dod) e{$ dooDd:sod.'add CIddg
dedd $i:rd de" 1 0,000 .:oo nilao; . nf -]i ;*d: e*ryro:) cdr 2020 -
21 ce)-s/+

dd*eddg dedd;dl iodgr:i dn. 7,80,000 fisq idD$ead. * d*nd lodsrrldo-

*o*ara ed.9 deddd dorirtogddd drogddl dod:&ad)o.
a) "ad& n9Eu3 ddo$).B&d Sdd
b) nqrt,3;r$ ddcJ:de "a&d Sdd.
QP - 277 Itilrilililliltiltfltililllltilil

SECT]ON*G
a@d-tu
Answer any 3 of the foilowing questions. Each question
carries 14 marks. (3x14=42)
d$n.i Cndcnddrag d){ilsri erudoa
de ilrd.d 14 eodfr$:.
7' Sri Ram-araju provides the following particulars of his
incomes for the previous
year 2020 - 21 :
1) lncome from salary in Japan t 1,60,000.
2) lnterest on bonds of Govt. of lndia T 1O,OOO.
3) income from house property in Bangarore T 56,000.
4) Dividend on'shares from foreign company T 17,500 received
in Japan.
5) lncome from Agricurturar rand in orissa { so,oo0.
6) lnterest received from a firm in u.K., remitted to rndia
T 1s,o0o.
7) Amount received from pubric provident fund 20,000
8) Commission received in lndia for the services rendered
in China t 25,ooo.
9) Profit from business in Srilanka 50,000 (being controlled
from Cochin).
10) Profit of the business in Ranchi 60,000.
11) Amount brought to lndia out of past untaxed profit
earned in England
{ 9,000.
12) Share of lncgme from HUF t 50,000.
calculate his totar income for the Assessment year
a) Ordinary Resident (OR) 2021 - 22 rt he is
b) Not Ordinary Rbsidbnt (ruOny
c) Non-Resident (NR)
ge oaaboasdd& &ood ddr 2o2o- 2l eroao$ood dr dgnd addrrsdl
&eBcbaod. ,

1) raa&&od uod ioug dro. 1,60,000. {

2) qDdd nuard& s,Dodrdeod uod oq d". 1O,O0O.

3) deJdd Sd uoao$ aJorlsoodCI_ddad do. 56,000.
4) edea dod&olrod enqnodajS roaodo-rsaosenAd dJo. 17,500.
5) uoxa.d {,a d^ard)od uoa LoaO aI.tO,oOo.
6) o1)).E. doior:od dJa. 15,000 d$q R*edo& qndddo dan&xid.
7) xadraed "$-a3 3To
qJadb &eosrod aaa dea do. 20,000
8) zjeoado-io3rd:d iedrl qndddo_da:edc dro. 2s,0oo x*edo&d.
9) Q,ee'roaodqt*-ro-adood enuJ dro. 50,000 (*
eo$o$fogoEp o E drDalor:od
p,mddde ----
ililililflilililililtllililll] -5- QP - 277
10) oooz3o$eJ$d aaraadOcd z":od erJqJ dra. 00,000.
1 1) dori oadd hood errddQ ro(oa6&od 4radddo ddsoftd dro. B,0oo.

12) bod.,e *iazJ{ d;uccz.:Ood etod soaC: zlorl dro. 50,000.

dd ddr 2021 - 22 66Q,e ood:ocrcddd ?"sttsoooJ:dd: eJEo aaE, edd.>
o-q a-?-A- J
a/
^\ NOer^)LLLJdl lQd (I

b) xoq?dea*qf naatC>fl cn ri
c) eDaa;,Cnhoa:1.
B" The following particulars are given by Sri Mahesh for the previous year 2O2O - 21.
1) Basic pay t 26,000 P.M.
2) Dearness Allowance T 16,000 P.M.
3) Bonus @ 2 months basic pay.
4) Fixed Commission @ 1"/" on sales. The total sales effected by him is
{ 19,00,000.
5) Entertainment Allowances { 1,500 P.M.
6) HRA T 8,000 P.M. Rent paid by him 10,000 P.M. t
7) The employer paid 15,000 towards his lT. t
B) The employer gave him a personal computer at free of cost. The cost
being T 35,000.
9) He and his employer both contributed 15% of his salary to his RPF.
10) lnterest credited to this RPF @ 10% p.a < 9S,000.
1 1) He has been provided with gas, electricity and water facility by spending
{ 10,000 for all these facilities.
Compute his taxable salary for the Assessment year ZO21 - 22.
p,e c:deddddr -
21 de ddrdoioz^:oe&dod
2020 & dgnd addrfsdl &ea&ad.
1) dme-: dedd drr. 26,000 4g Eorl$.:. :

2) eu|dd, &. 16,000 q!€ scrlso.

3) zinedf 2 Sorld C>loe-r dedd.
4) dnorui CrDed drdmdd abeeJ dedd 1 dod da:edo6 ddol:ql
ddoud$riloaRdJard. 6r ddrdo.addJ dra. 18,00,000 dnmt^ldd1 cna$aod.
5) u3:ddcxoa epd, dn. 1,500 i.,g 30119;.
6) d;d sro&ri dd, &. 8,000 de eoderi. du aaari d,e. 10,000 E,.g gorleri.
7) dcd&o3:: Q,e d:dedddd smo$ dorlo$dl aad8lenod do .15,000.
8) doi&ob Q,e c:de$ddorl {oddu dodOruddl doe^ld:{d,. "add dfre,
dlo. 35,000.

ir
Qp _ 277
_6_ lffiilililffillltiiillllllllllllm

qdd dc'3i-iot3: RFF i-r:'{ i-:ar-'i'

9) deddd sedd 15 dab edd c,4 doiDoJ:
mifr,t, L3;J *':,!=d, ',, 3s,S$fi
10) RpF d.:ed aoar-d,i,qu*** ro **,r;4*
11) u&o, ed:rQi d;d: &eod ^t"dr|o'.q.erucd;nn
eeei' add# *e
dod&c:: b,il t o,ooo $23:;- d;ed' --,,,. l '. -i.. !.,
.
-..1;:. , : ;;i:.,:i,. .).",; 1-
;ie riri a',-,d;:-,5:;j
dd aidr. 2a21 -- 22 to b,r *,eee5. &Jd

Bangalare' she has letout botlr the hou**s

9. Mrs. Raieswari owns two houses inpurpose'
throughout thre year for residential
House I House ll
Particulars
5,00,000 10,00,000
MuniciPal value
9,00,000 8,00,000
Fair Rental value
5,60,000 Q,00,*ee
Rent received
6,50,000 7,00,000
Standard Rent
50,000 80,000
Repairs
50,000 1.00,000
MuniciPal Tax Paid
40,000 60.000
lnsurance Premium Paid
house for self occupation fci-f
15'00'CS0
On 1't April 2O2O bought residential
The loan anrount was 1fi.00"000 and
rate
by taking a housing loan from SBI'
of interest is 10% P'a'
i

ComputetaxableincornefromHouseprooertyferrtheAssessmentYear2*21*?-2
5,ed:3mde{oo$dcbzSort*oodqz*drlsdldeoOd:.;3cQmtqnm3dil
DeGdood.
a.-t-rytrtr e*d I ffit ll
lvv
C,^r+JWr

:rnicr{ teer
hiv.vty' w-vd
5,00,000 10'00,000

&a)d z56arl 8,00,000 8'00'000

:i+.r
l\i.(! o_ht '!r
(}Jerl"/9| I
5,60,000 S'00'000

il *a,r 6'50'000 7'oo'ooo

ddl
e'j
50,000 80'000
:and:dr{
te'lvd(aidnii
vv! r dF^3d)
vwi.
o 50,000 1
'00'000
I*. n^r. *rr,I..
C^JC^U JWw vwr*-
C"J O
4o,ooo 60,000

1 il&ref 2o2a docb d4.{pd *i?l:ld1|f*q sBl do-$d xoe': driddooci>

*;s t=i ;*s
&t:sf,rcadd;;dd"S;ll,ob,ooo md;i rrr.i;e
10,00,000
*'J dc## 1f)

ddddr'2021.*22dereda8mded"Ded:dddDddaoda;cce*enci:aldi6cd)toGe3)0'
I llililltililt til ililt ffiil lllt tili
-7"
QP - 277
10. Itdr. lt4adan give*q the t*:li*win$ pai.ttr:uiars cf hi.* inr,:ame fOr.tt-re
previcus ZAZA* Al
a) Basic Saianr { ?0.*0* p M.
b) Commissron equa! io one rn*nth,s basic pay.
c) Bonus equal to 2 rn*nth* l.r;:sie pay
d) children edueatron ali*wanee fon hrs z chiidr.en
ai 400 p.trl per ehild.
e) Entertainment allowance T 4,000 p.M.
f) A rent free unfurnished house has been provier*rJ
in ehennai and the re'rt
of the house paid by employer was t 80,000
per year.
g) Employer paid professionar tax on beharf
of him { s,000.
h) Employer contributes to RPF is 16% of basic pay
and he also c,ntributes
equal amount.
i) During the year he has paid rnsuranee premiurn
on hrs rife ( 12,000.
i) He has been provided with 1200 cc motor car, which he uses for
both
official and personal purpose. All the expenses
including driver are paid
by company.
Compute his taxable salary incorne for the
Assessment year z0z1 * 22.
Q,eoJ::d $6rfddcb ucxc$ Sd;- 202 A _ 21 E Bc*',cQ*Cod €: dvtld addri$d3
&eGd:soc.
a) drne aeec dn. 20,000 gg €or.lq:.
b) Ea:ednf z"oe3; gorl$ d:,oo dedd.
c) zJoedxf 2 Sorl$ a3:ns dedd.
O] ,{ q?cb nbdr$ aqAa"ic
ilre ecr1tj: 4AA ;gs.brbari. ?,Jdd

e) abddc*dn $d, Eort*ri C"r. 4,000

0 dbddddori ri{de_zaari d&6 d;:.. ;1::.x:*L, ilCer,nC. tddu doi&cl:t
c1
drd. 80,000 anar*E zDario$dl er$gA.
g) Eodedr a$dcddd dsilR qg sorlmil ;adg&cbad d/e. 5,000.
h) dode ab4 abdafddcb deud"jS
16 uq,iloe x,jr*q RpF dc.griCran
Dea$od.
i) * ddrdelabd.fdccb dabrced odbob ao$ d.o.
12,000 md3:icboad.
i) edori Eod&cr: 1200 Ar& 6Dddi &eacbscd. €r uaddl dd2 rpdd,
-rt^'*oanor,
""
dc-:rdu uex:gqcj. "addD%dry;, {*o"-deo aoreo$e #-#:"'
dd ddr 2021 - 22 Etabdafddd iougd eicno3:dd; eJdo o16.
QP - 277 rilililtilililrilrilfiilililillt

11. Mr. Balaraj is the owner of 3 houses. The following are the details of these houses
for the previous year 2O2O -21.
Particulars House I ll
House House lll
Year of construction 2000 2005 2009
Purpose of use LOP SOP LOP
Actual rent received (pa) 80,000 55,000
Municipal valuation 85.000 60,000 70,000
Municipal tax paid by owner 5,000 4,000 7,000
Municipal tax paid by tenant 5,000
Repairs 10,000 5,000 20,000
lnterest on loan taken for constructions 14,000 15,000
Compute taxable income from House property for the Assessment Year 2021
- 22.
Q,e z;De.rooDf;ddd> d:rod> $dd$ dnOedooDcb ercno$ ddr 2020 - 21 Etiozooe:rd
cddd$ d$ndo9d.

edddqt $st ub$ ll $d ilr

Cdnreoatod ddr 2000 2005 2009
erudCloed zoBrirl !odd 'aJd(3I V )
^-aJJ

sDari ddrdu 80,000 55,000

6dil?.J dPe.r, 85,000 60,000 70,000
{)dB?.^J dori dnOeE mdgtd: 5,000 4,000 7,000
d)dnqi dod zuoarload and3tub 5,000
odeD $23:r 10,000 5,000 20,000
d:O dt^iq: drtd)iiood FDe6 zJE - 14,000 15,000
e.j @

dd ddr 2021 -h Eoiouoexrdod dorirtngddrd drd soooJ:dd; Eod:baobo.

ililil]iltilil|il]tililllillllll {g
cs - 269

V Semestes' B.ffmam. ffixmat"BEreation, Mareh 2023

(CBCS) (2022-trii and Onwards) (F+R)
COMMERCE
*
Paper 5.1 : lncome Tax - I

Time : 3 Hours Max. Marks : 70

lnstruction : Answer should tse written completely either in English

or in Kannada.

SECTION -A
1. Answer any five sub-questions. Eaeh sub-question carries two marks. (5x2=10)
a) What do you mean by Agricultural income ?
b) Give the meaning of gross total income'
c) Who is Non-resident individual ?
d) Define "Annual value" of house property'
e) State any four exempted perquisites.
f) Who is a specified emPloYee ?
e
g) What is meant by previous Year ?
$ECTION - B

Answer any three questions. Haeh question carries five marks. (3x5=15)
2. Explain briefly the canons of taxation according to Adam Smith.
3. What is the residential status of Mr. Krishna, a foreign citizen for the assessment
year 2022-23 who was in lndia as follows.
Previous year Presence in lndia
2021-22 ^!' 1 82 days

2020-21 55 clays
2019-20 28 days
4. State whether the following are agricultural or non-agricultural income.
a) lncome from sale of flowers and creepers
b) lncome from agricultural land situated in lndia
c) lncome from dairy products
d) lncome from sale of forest trees of spontaneous growth
e) lncome derived from sale of seeds. p.T.o.
cs - 26e -2. lllllltil
5. Mr. Vishnu (resident), an employee of SRM Limited, retires from service on 16h
January 2022 after serving for 36 years and7 months. He recelved T 9,70,000
as gratuity under the Gratuity Act 1972. At the time of retirement, his basic
salary was { 23,000 per month and DA was t 4,000 per month.
Calculate the exempted and taxable amount of gratuity.
6. Determine the Net Annual Value of house property for the assessment year
2022-23.
Municipal value < 1,50,000
Fair rent < 1,70,000
Standard rent t 1,30,000
Actual rent per month t 15,OOO
Unrealized rent T 18,000
House vacancy period 1 month
Municipal tax paid T 15,000

SECTION .C
Answer any three questions, Eaoh qucstion carries twelve marks. (3x12=36)
7, From the following particulars of Mr. Govinda, comBute his Gross Total lncome
forthe Assessment Year 2022-29, if he is ordinary resident, not ordinary resldent
and non-resident.
a) Received { 20,000 in lndia, which accrued in England.
b) { 10,000 earned in lndia but received in England.
c) t 50,000 were earned and received in Africa but brought to lndia.
d) { 10,000 were earned and received in Japan from a business which was
controlled and managed in Japan.
e) T 16,000 were untaxed foreign income of some earlier years, which was
brought to lndia in the previdus year.
f) lnterest on fixed deposit in state bank of Mysore, Bangalore T 12,000.
g) lncome from agriculture in Africa received in lndia T 1O,0OO.
h) Dividends received in UK from an American company ( 1O,OOO.
i) Salary income for three months for working in lndian embassy office in
Australia and salary received there ( 72,000.
llllllllllllllllllllllllllllilffi €' cs - 26e

j) lncome from house property in Mumbai ( 1,00'000.

k) tnterest received on POSB a/c t 1,000.
l) Pension income form Belgium for services rendered in lndia with a limited
company { 20,000.
m) Gift from relatives { 80,000.
g. Ms. Radha who is working in ABC Company gives the following particulars
a) Basic salary t 16,000 Per month.
b) Dearness allowance t 1,OOO per month (60% enters into retirement
benefits).
c) HRA T S,0OO per month (rent paid in Bengaluru is t 7,000 per month).
d) Conveyance ailowance { 8OO per month (t 600 per month used for official
purpose).
e) CCA T 150 Per month-
f) Motor car of 1600 CC with driver provided used for both official and personal
purpose. All the expenses met by the employer.
g) Payment of LIC premium by the company T 8,000'
h) Children education allowance of T 200 per month each lor 2 children.
i) She contributes 14o/o of her salary to RPF and the company makes equal
contribution. tnterest credited to RPF is t 6,875 @ 12.50h.
Gompute her income from salary for the Assessment year 2022'23.

g. Fromthe following pdrticulars of house properties of Sri Hrshikesha (resident),

compute his income from house property for the A.Y.2022-23.
Particulars I House ll House lll House lV House
value
Municipal t 80,000 { 90,000 { 2,00,000 < 2,40,000
rent
Annual < 3,20,000 { 3,00,000
Local taxes paicl#! t 16,000 t 18,000 t 40,000 < 48,000
Repair charges 10,000 { { 30,000
lnsurancepremium 5Og 1,500t { {2,000 < 5,000
lnterest on loan
for construction < 11,800 { 18,OOO { 42,OOO
Unrealized rent ( 3,000
Vacancy Period 3 months
The I house and ll house are self-occupied. The lll house is let out for residence
and the lV house is Iet out for business. ln the case of lV House, the tenant
l
paid the local taxes.
cs - 269 rlllriltiltflilil]t]ilttiltilt

10. Mrs. Gayathri is the manager of Maruthi Suzuki Limited, Mumbai has furnished
the following details of her income for the year ended gl st March ZOZZ.
a) Basic salary t 21,000 per month
b) Bonus - 2 months basic salary
c) Commission is 3% of sales. During the year she reaehed a sales target of
t 5,00,000
d) Dearness allowance forming part of salary t 7,000 per month (considered
to retirement benefits)
e) Medical allowance { 1,400 per month
f) Entertainment allowance T 3,OOO per month
g) Children hostel allowance for her two children at T 500 per month per
child
h) RPF - company contribution t 6,000 per month
i) RPF - own contribution { 5,000 per month
j) lnterest on RPF at 1 1 "/o per annum { 44,000
k) She has been provided rent free furnished accommodation at Mumbai
t
whose fair rental value is 10,000 and cost of furniture is { 60,000
l) She paid professional tax { Z,4OO
Compute her taxable income from salary for the Assessment year 2022-Zg.

11. Mr. Rama is the owner of the following houses in Bangalore and the particulars
of which are relating to the previous year 2021-22.
Particulars HouseI House
ll lll House
value
Municipal t 1,2o,ooo { 1,B2,ooo { 1,44,000
value
Fair rental t 1,s0,ooo { 1,60,000 ( 1,7s,000
rent
Standard { 1,44,000 ( 1,50,000 t 1,60,000
use
Nature of for
let out for
let out self-occupied
residence business
Rent received permonth 1S,0OO
T t 1g,OO0
Municipal tax paid by owner
For the year 2020-21 6,000
t t 6,600
For the year 2021-22 12,000
t 13,200
t t 14,400
Cost of repairs 19,000
t t 12,000
lnterest on loan for
construction 45,000
t 60,000
{ t 2,25,000
Unrealized rent 12,000
t T 19,000
Vacancy period (month) 22
Year of completion I 201 2017 201 5
Compute taxable income from house property for the Assessment year 2OZ2-2g.
ililililililil|il|llilllillil cs - 269

SECTION - D

Answer the following. Carries nine marks. (1x9=9)

12. List out any nine exempted income from tax in lndia'
OR
Differentiate between recognised provident fund and unrecognised provident
fund as per the provision of lncome Tax Act.
d{d udr$
eqro?'l - a

1. ol)ad)de od: wd-{,dorl9ri w-dO&. de wil-{,doob odd: eodrlSdl

dooa&dd. (5x2=10)
a) dr& eroao3:d erfirded: z
b) ?"0^l:" saaoJ:d efirdd1 Dea.
c) e0ml ddE o$Ddr ?
d) dJd eri c1: ' 'ilc&Fd dPor''dd)4 edos).
e) dori $Ftrou:go$ cbdmCdn oroo er&d.,e orl$dA E9&.
f) eOr,.terudoren oJDdJ ?

g) eoad draroi: ddrd odrCe& z

a?,[oil - ?,r

cSndcnddi'c *Ja& 4,d4r19ri erD3otu. {,9 4rd4o3:r ccb sodrl$dl dooodrqd. (3x5.15)
2. rrdEil, td €,ed dOrl &o$$iderls,diioSi;nn DdoPr.
3, * dEn$od QEdddOJ{ 2022-23d dSe.rrCndd ddrd &de& €,dolDd Q,edr{udd
dig &€
a
aib ?
ddr ,,;
boad tpdddo*q&cd
2021-22 182 adilSc
2020-21 55 0di19c
2019-20 28 odd$)
4, d$nddri$.: dra eda o drao3:eBd soao3:de aoauddl.'99tu.
a) drDdrlsr Crdl ?J*?d$ d,noot,lOod er6?o$
b) qDddd0- de3rlooBdrd dd&?Sroaro$od ereJao$
c) (,0 erud6,t19od ercsoo$
d) qtpaad ?3$dtdrio$ etdea, ilddd droocolood er6?o$
e) zrearlg dnoct^lOod udcd ejdroj).
cs - 26e .6. lllllllllllllllllllllllllllllilllll

5. 9e Ad* (Oaan;, SRM OtueJcfrt erudo*eh, 36 darnsr a$Q 7 .gorietrlg roel

[e* lg[,a dodd 16de esddo 2022dodl'dedoo,lod e{,$oruuiU. etAO n}s^tlrr^l
rooud 1972d uaodrO_ Ig,z$ot3o$Dn { 9,70,000 ddd$. Od.)go$ Bd:o$dO_ ,
erdd droo dedddt Eozleri t 23,000 ild; DA gorlpri t 4,000 onQ.
&NDoDg d:4 dori eQnud;cmd rgzSrrai d"qdq eJroozod dDa.

6. dfder",dndd ddr 2022-23de dtd etno$ 0d_9

i d?.r,rrd dPordd1ofiroa.
OoEd arPel. { 1,5O,OOO
uo",o$obg"eoad { 1,70,000
4,?Sneaa smar{ T 1,3O,OOO
,9orl9ri 0egdrd zmBri t 15,000
ermB&d zJDArl T 18,000
aOS6O cde l Borlet>
ddd?io$ dori a"d8iennd T 15,000.

A?iDd - BJ

oln$oaddro $Ja& dd*rtert erudotu. dg 6d".olr: Eqd& erodrisdl doood>dd. (3x12=36)

7 . 9e rioeaod erdd * d$nd Dddrl9od, srdd) xadnd, &ilExrclroRdod, xadnd, &aaxr
ye- ilQ er&aaxrCroRdd, 2022-23d dPe-rrd,ndd *drdu erdd i"o^rr", ucnOAal
e3raymd drDa.
a) qndddO_ t 20,000 &edolenAd, .acb eodoardO_Bo{,daaor:&.
b) qrDdddO-d9tud { IOpOO qrdd eo(oardel-,r,-eAoienn*.
c) ugrode_T 50,000 rlgienog:S d;Q sledonerDor:d: egdd q:adddo ddenor:d:.
d ) xmddo_ &o$ og !e"u1 abQ Odrene1u1 d, doadO od t 1 0, 000 deierrnd dbeb
aanordO_&€doBeDnd.
e) t 16,000 Eetd &o6d ddrrl$ dOrl dbd ades ercJEobil"Rc$ , qd$o boOd
ddr dO_ rtro dddo dden og16: .
0' {*ufqof &rR"&,z3odgodt
uqi6 T 12,000 dOcv)Q
xld dedsd dreOd uG*.
e.J o I & '
g) qrgrod0_dd&oc:od qnddd%ddd ercroo$ { 10,000.
h) erd:eodor dod& T 10,000 &od UKdO_ddd enpodrlsb.
i) erdSOodJDd{qnd.geotrr cno$qDo da*eooj:O-delB d>del ilro$ 8orl9 dous
. - - --- -(v) - -'
qrutoo$ ildr uO_ddd Bou$ T 72,000.
j) dDoqdO$)d d:d uloctod eta.ooS: { 1,00,000.
k) POSB a/c t 1,000dO_ddd uE*.
l) { 20,000 tsretud dod&CooOri qradddO_BO^Fd deddernn dO_o$oood aozdsd
ol:n.lr
\-, (*Jc,/\t
^-,/.

m) BouoQdood erud>riod T 80,000.

r rillllt lillfl ill lllll lllll llil llll -7- cs - 269

8. ABC dodeo${dEd dndlged Ms. uoqa ds ESnd edd?19&4 eedlqd.

a) .9orl9ri droE dedd T 16,000.
b) dJu:rqjd, Eod9ri { 1,OOO (60% 0dr9 {,oloeadrleri {,deaxbqd).
c) Sorlgri HRA t 5,OOO (z,3od9ood0-aad8:rd zroari Eorlgri T 7,000).
d) saori qld, Sozteii t 8OO (uQdrd or:dedroon 8oz19ri T 600 u$teni$$d).
e) Eorteri CCA { 150.
f) 1600 CCo$ droeorod: tacf - erd:
-'-! zsoe"rddooori^uQdrd
--- g {o$qd ero{edmun
dJd.l
e^.rSisartg d. oq $aird1 dod&o3:e ?ioxbd d.
g) Eod&ou:od LIC {,e,i}:o$o md8 t 8,000.
h) 2 drEderi Sorleri T 200 drd$ 9{ra zJd, .
i) eddiSd ioz.r$d14"/" ud: RPF ri drodrri &ed:so$ drd) dod&C:: ndJDd
' d";,1.$ai c*a.rg*. npf ri t 6,875 @ 12.5"/o ilqa#crnn*.
2022-29 d dfoe.:rdndd ddrd doz^:Sood erdd eremo1>d$* d{-6.
L Q,e {,a,rded (DanA; etdd abd eslrls d$nd,)ddrl9od, A.Y. 2022-23 ddild ertuobod
erao ej6"'ocDdil) gtazsoo ct u ilDa.
iic,i+, *,d llt *d
I drd lv d$d tt
d)dn?.,i die:, t 80,000 t 90,000 { 2,00,000 < 2,40,000
dr&rd zJoari { 3,20,000 t 3,00,000
aad8rrd igeoj: doririsrt 16,000 { 18,000 { 40,000 { 48,000
rd d:s*
dJdtu { 1o,ooo T 3o,OO0
Ddr!-.1,ea:clo t500 {1500 (2,000 t5,000
xioe.rd a3:eOd ua*
cri--m
Nc^rrdr.a, t11,800
{ 1 1,800 {18,000 t42'000
eraoi&E ?,DAri { 3,000
anel-e*6 3 Eorlsbrl$;
I drq ll d.:drl$c lpJ:o-esdrtudE rnd. lll d:dc;dq &aaid* ?td)sDd-ile.lV
zlarq-C. lV d:d lodzf rdO-, zrcbrimoS:1+em doilrr$dr)
ti*E3oreaoua|
ci)e)oJr9nQ9.r. +,

10. Q,edcS nECJq erddo d;ndc8 Jcx:8 eil)dc56, doozJ.d dordead eJfldco,
*nzs'r 2ol2 du dodriood ddrdu ddg etcmo$d dsnd b*ortdq udnx,rcrodl
g1 ,

a) 8or19ri d:oe.: dedd t 21,000

b) uloedxs - 2 Sorl€ C:oe-r dedd
c) da:do6 Cnoot^ld 3% etnd. ddrdo-sei$J T 5,00,000 dnoot^ld rboo$d}
der:ad$:
d) d:qq€, Borteri { 7,ooo Bousd qndaand (e69 $oSoexdned dorltdi@rt$dl
e) d,drse65 dd, 8or19ri { 1,400
f) d.:ddor5n dd, Eorlgri { 3,000
cs - 269 Illililrlililliltlfltililflililt

g) dq q?ruct, abdderl abdds mt*f qJd, 6e drrbDri Borteri t 5OO

h) HPF - dod&o$ dra&ri Eorleri T 6,000
i) RPF -
Sorleri {od drodrri T S,OO0
j) RPF abeOd ?JqilE&rd 11yo T 44,OOO
k) qrdri d::oafld{zroari lao;fuod dnao$dA udfliennd, erdd anro$otud
eruaid
?uaBrl dfder, T 10,000 drd; aednedEdearis zieJ t 60,000 eJRd
l) erdcb ddgdd dori t 2,400 amd8xrcnod
dFe.rrd>dd ildr 2022-zg du dougood edg dorio$ uooo$dd1 eJm;^nd dDa.
11. ge cnd: eedcb a3ods.raodqe dsnd dJdrl$ dneedoan6'a!
o $drr couQc0 cD6li-
9 ^AJ a)-)-

2A21-zzidBouoeld addri$b.
addd$b lubd ila$d flc)d
d)dn?.j dfoo, T 1,20,000 { 1,02,000 { 1,44,000
Nr,,-
aiDrolroSt d s,JEEri { 1,5O,OOO { 1,60,000 { 1,75,000
EdJDrdgt,roari T1,44,OOO {1,S0,OOO < 1,60,000
zu$do$
{Ua*d &a,D!ii on^andm.fl
Dd.:#d *oCIodo
.gorleri ddd z,laari t 15,O1OO t 1g,060 "9tu!
dnOedd; a"d,gtud
d)drdo$ dori
2020-21ddr{ {6,000 t6,6OO
2021-22 ddr*u t 12,000 t 13,200 t
odeodzs, -
14,400
{1g,ooo
r rv'vvv t12,OOO
Odnrro$hrae;d
abeod ud^ T 4s,ooo t 60,000 t 2,25,000
Saarf
era;D!.ld t 12,OOO T 1g,0OO
an0 edQ (eod$b) 2 z
draeorrtood ddr 201 B 2017 2A15
2022-23dd abd er&o})od dori aerud.:crod uoao$dd1
f:[YEl!Sd\r
eJrJdz,'JO droa.

e4'arl- B
* f$jnd €,d.ri erudoxr. €,,d4cl s.oueb erodrlsd:o dooad:dd. (1x9=g)
12. qndddo_doriobod Danoue ddd crn6*e uoald.: uoao$dd1d[^lilDa.
erFilo
erc5ao$ dori uao3:do$ &r"loddolo d.,uod rbd>gder; qJoq CIe ilq rucberd qJeq
eQil$ dd>d drmriddl rb&exr.
​FIFTH SEMESTER B.COM DEGREE EXAMINATION
FEBRUARY 2024
(NEP)
Model question paper
SUB: INCOME TAX LAW AND PRACTICE -1
Time: 2 hours] [Max. Marks : 60

Instructions :
1) Answer all sections according to internal choice.
2) Use simple calculator is allowed.
3) Give working notes Wherever is necessary.
4) Question No 11: case study Compulsory.

SECTION -A (5×2=10)
1. Answer any five of the following questions.
a) who is tax payer under IT act ?
b) what are the basic conditions required for
determining residential status of HUF.
c) what is Mercantile system of accounting ?
d) what is vocation ?
e) How do you treat unrealised rent ?
f) what is profit in lieu of salary ?
 g) who is NR under Income Tax Act 1961 ?
SECTION - B ( 5×4= 20)
Answer any four of the following.
2. Distinguish between taxable and tax free income.
3. Mr. Vardhan of Hubli quit India for the first time
to France on 01-01-2017 and came back to India
on 01-01-2018. On 01-08-2019 he departs to Dubai
for business purpose. And returned to India
on 01-07-2021. He again go off to Switzerland on
01-06-2022. However he arrives back to India
on 17-03-2023 on service in India.
Compute his residential status for the Assessment
year 2023-2024.
4. Mr. Vikram is an employee of Maruti Suzuki Ltd.
received Rs. 8,70,0000 as leave salary at the time of
retirement 31-12-2022 after completing 25 years of
service. On 1-1-2022 his salary was Rs. 15,000 p.m
after adding the annual increment. Leave
entitlement as per agreement is 2 months salary for
every year of service. Leave taken while in service
is 10 months.
Calculate the exempted & taxable leave salary for
A-Y 2023-24.
5. Mrs. Divya owns a house consists of two equal
 independent units. The municipal value of which
is Rs. 1,00,000. She paid municipal taxes Rs. 12,000
one of the units is let out at a rent of Rs. 5,000 p.m
& the other unit is self occupied. She paid interest
of Rs. 20.000 on loan taken for the purpose of
renovation of the house.
Compute his income from house property for the
A-y 2023-24.
a) if she opts to be taxed u/s - 115BAC
b) if she does not opt to be taxed u/s -115BAC.
6. Mrs. Minakshi is carrying on agency business.
During the previous year 2023-24 she received
the following commissions :
a) 5% commission on total sales of Rs. 8,70,000 from
Kellogg's corn Flakes India Ltd.
b) 4% commission on total sales of Rs. 3,50,000 from
Britannia industries Ltd.
c) 6% commission on total sales of Rs. 1,50,000 from
Pepsico India pvt. Ltd.
The following expenses have been incurred by her :
Expenditures Rs. Income Rs.
Rent to building 24,000 donation 10,000
Wages to labours 18,000 Income Tax 7,000
GST 8000 printing &sty 15,000
Compute her income from business for the
A-Y. 2023-2024.
SECTION - C (10×3=30)
Question No. 11 is compulsory. Answer any two of
the remaining.
7. Write short notes on any two of the following.
a) Agriculture income
b) State any ten exempted incomes in India.
c) Non- business incomes.
8. Following are the particulars of income of Mrs.
Soumya Patil for the P.Y. 2022-2023.
a) Agriculture income from India out of which 50%
from Australia Rs. 8,00,000.
b) Gift received from Mr Vishwa in France he was
a husband of her Rs. 2,80,000
c) Profit from business in Wellington and 50%
received in India and control from Nagpur Rs.
4,00,000
d) Profit on sale house property in Dubai and
it is credited to her bank in Dharwad. Rs.
8,00,000
e) Salary received from UNO Rs. 4,00,000
f) interest received from Mr. Ganesh a NR
against loan to run business in Hongkong
 Rs. 5,00,000
g) Dividend from HSBC Rs. 3,00,000 half
credited bank account in India.
h) Capital gain on sale of agriculture land at
Chennai Rs. 9,00,000
i) Received receipt from HUF Rs. 80,000
j) Profit from business in New York and being
managed from Vijayawada Rs. 7,80,000
k) Share of income from Partnership Rs. 47,000
Compute her gross total income for the A.Y.
2023-24 if she is a
a) Ordinarily resident
b) Not ordinarily resident
c) NR ( Non-resident).
9. Mr. Madhuvan provides you the following
information regarding his salary income
for the previous year ending 31-3-2023.
a) Basic salary Rs. 18,000 p.m.
b) Bonus equal to one month's basic salary.
c) Dearness allowance per month Rs. 12,000
(it enters into service benefits).
d) City compensatory allowance Rs. 800 p.m.
e) project allowance Rs. 3,000 p.m.
f) Medical allowance Rs. 2,000 p.m.
g) Rector allowance Rs. 1,000 p.m.
h) Family allowance Rs. 1,500 p.m.
i) House rent allowance Rs. 5,000 p.m.
j) Entertainment allowance Rs. 1,500 p.m.
k) He is provided with a car for personal and
office use. The car is of 12 H.P owned by the
employer and all the expenses are paid by
the employer including driver's salary.
i) He has achieved a turnover of Rs. 1,50000 on
which he is paid 5% commission.
m) He is living in a rented house paying a rent
of Rs. 2,000 p.m.
n) The employee is contributing 15% of his salary
towards RPF and Employers contributes 15%.
o) The interest credited to the above fund a/c
during the year 2022-23 is at 9.5% Rs. 4,700
p) He has paid Rs. 2,800 as professional tax
during the year.
Compute his income from salary for the
Assessment year 2023-24.
10. From the following information compute the
depreciation allowable for the A.Y 2023-24 of
A new industrial undertaking was formed on
1-6-2022 to manufacture certain articles.
 First Block
M 1-6-2022 purchased building for Rs. 8,78,000
Second Block
M 1-6-2022 purchased the following Assets
Office appliances Rs. 78,000
Air conditioner for guest House Rs. 60,000
Car Rs. 4,00000
Computer Rs. 42,000
Third Block
W.D.V to plant and machinery Rs. 6,00,000
'N' on 1-4-2022
on 1-7-2022 purchased plant M for Rs. 10,00,000
on 1-12-2022 purchased plant Z for Rs. 8,50,000
The normal rate of depreciation allowable are
Normal depreciation rates:
Building at 10%
Air conditioner at 15%
Plant and machinery at 15%
Car at 15%
Computer at 60%
Office appliances at 15%
Additional depreciation on new purchase Plant and
Machinery is 20%
Calculate total Depreciation and W.D.V of Assets.
11. case study (Compulsory) :
Mr. Nexon is the owner of three houses. He used
for his residence during the previous year 2022-23.
The details of all houses are as follows:
Particulars House 1 House 2 House 3
Fair rent 15,00,000 25,00,000 28,00,000
Municipal value 16,50,000 24,00,000 26,00,000
Standard rent 17,00,000 26,00,000 29,00,000
Municipal taxes
paid 1,65,000 2,00,000 2,00,000
The details of housing
loan:
Interest on housing
loan for 1,25,000 1,80,000 1,90,000
P.Y 2022-23
Date of loan 1-4-2016 15-6-2017 1-7-2018
Date of completion of
house or purchase of
house 1-4-2018 15-6-2019 1-7-2019
Questions:
a. As an assessee those house Mr. Nexon would
consider as self-occupied property.
b. Give reasons why he has to select a particular
houses as self-occupied property.
c. State the basis on which an assessee should
select one house as "Self-occupied property"
& the other house as "let out property" when
more than one house is self-occupied.