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    Income Tax

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    Income Tax

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    Income Tax Www.anuupdates.org

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    Income Tax

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    of 1

    Acharya Nagarjuna University

    B.Com-Computer Applications Syllabus (w.e.f:2020-21 A.Y)


    MODEL QUESTION COURSE – THEORY
    B.Com. DEGREE EXAMINATIONS
    Semester: IV
    Course(4C): Income Tax
    Time: 3 Hours. Max Marks: 75
    Section-A
    Answer any FIVE of the following questions. 5X5=25M
    1. Assessee
    2. Agriculture Income
    3. Perquisites
    4. Gratuity
    5. Self-occupied Property

    g
    6. Capital Asset

    or
    7. Interest on Securities
    8. Total Income
    Section- B

    s.
    Answer FIVE questions. 5X10=50M

    te
    9. a) What are the different categories of assesses according to their residential status? How is
    this status determined?
    da
    (OR )
    b) Enumerate any ten items which are exempt from charge of Income-tax U/S 10.
    10. a) Balu is employed by P Ltd in Pune. During the previous year, he gets the following emoluments:
    up

    Basic salary: Rs. 1,86,000; dearness allowance: Rs. 12,300 (forming part of salary); city
    compensatory allowance: Rs. 3,100; children’s education allowance: Rs. 2,340 (for 3 children);
    Bonus Rs.15,000; house rent allowance: Rs. 16,200 (rent paid: Rs. 20,000). Employer’s
    nu

    contribution towards recognized provident fund Rs.20,000; Balu’s contribution towards


    recognized provident fund Rs.40000; Income of Balu from other sources in India 80,000; Find out
    .a

    the taxable income and tax liability of Balu for the assessment year 2016-2017.
    (OR)
    w

    b) Discuss various deductions available under the head salary.


    11. a) What are the incomes chargeable under the head “Profits and Gains of Business or
    w

    Profession?
    (OR )
    w

    b) A owns two houses, I & II. House I is let-out throughout the previous year. House II is self-
    occupied for nine months and let-out for three months on a monthly rent of Rs 5,000. Determine
    Taxable income, given the following details.
    House I House I
    Municipal Value 40000 50000
    Fair Rent 50000 48000
    Rent Received 48000 15000
    Municipal Taxes paid 4000 5000
    Insurance Premium (not yet paid) 2000 2500
    Ground Rent 1000 1500
    Maintenance Charges 3000 3500
    Electricity Bill 5000 6000
    12. a) Discuss the provisions of the IT Act, 1961 regarding: (i) Conversion of Capital Assets to Stock in
    Trade; (ii) Computation of Capital Gains in case of depreciable assets.
    (OR)
    b) Briefly explain computer applications income and special incomes from other sources.
    13. a) Briefly explain the deductions U/S 80.
    (OR)
    b) What is the procedure for computation of total income with examples?

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