100% found this document useful (1 vote)
5K viewsBB Sir CA Inter Tax Compiler - Compressed
Uploaded by
sanketCopyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
100% found this document useful (1 vote)
5K viewsBB Sir CA Inter Tax Compiler - Compressed
Uploaded by
sanketCopyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
/ 318
@ 23 vinTuas
wel IN)
MAY / JUNE NOV / DEC
2023 EXAMS
(AS AMENDED py FINANCE:
ACY 2023)
(© Scanned with OKEN Scanner Basic Concepts
Question 1
Mr. X bas a total ing
TE aneome af t 12.00.0060 tor P.
property and interest on tine: ci
his age ig 4 H!orest on tied deposi oy
-23, comprising of income trom house
Omputo his tax liability tor A.Y.2023- 24 assuming
(a) 45 years
() 63 yea
(6) 82 yoars
Assumo that Mr. X has not opted 5
4S: Not opted tar the ions ol se SI
ance pled far the provisions of section 11SBAC
{sma
() Cw
r
of Tax ti
ity of Me, X
First 8 2.30,000
Next © 2,50,001 — ¢ som.0n0 0,000,
Nest ® 5.00.01 ~ ¢ 10,00,900 Ye ot’ 5.00. 2 1,00.
Ralanee ie, 2 12,00,000 minus ¢10,00,000 (230% of 2 2.00,000 260,000
21.72,500 [ie
Add: Health and Bau
36,900 J
am coset
21.79.00 |
ty of Mr, X (age 63 years)
as
Vea
:
00,000
-Nil Fi
Next & 3.00,001 ~ & 5,00,000 = @5% of @2,00,000 2 10.000
Neat € 5,00,001 ~ % 10,00,000 - @20% of ® 5,00,000 = @1,00,000
Balance i¢.. 2 12.00,000 minus £10,00,000 @30% of 8 2,00,000 =___2.60,009
= 21.70.00 7
Add: Health and Raucation cess@4% 36.800 (y
= 176.800
(¢) Computation of Tax ti
lity of Mi
X (age 82 years)
Fax liability
First ¢ §,00,000 -Nil
Next 25,00,001 — % 10,00,000 @ 20% of & 5,00,000 = 2 1,00,000
Balonce ix..(212,00.000 -8 10,00,000) = @ 30% of & 2,00,000 260,000
= 2 1,60,000
si@4% = 36400
= £1,66.400
Mtoe
a
Add: Health and Education
(© Scanned with OKEN Scanner Chapter! Basic Concepts 2
Question 2
Compute the tax iabilty of Ir, A (aged 42) having folal Income of € 54 lathe for the
Penccitan! Voor 202824, Assume that his total Income compriaes of salary income
Income from house preperty and interest on fixed deposit, Assume that Mr, A’has nat opted
for the provisions of section 1458AC. [SM Q}
| Answer 2
for the A.¥.2023-24
total income of ¥51,00,600
212,500
Computation of tax Feability of Mr A
(A) Tax payable inclnding surcharge
2 2,50,000-~ 2 5,00,000 @5%
50 2 z1,00,000
3 12,30,000
2 5,00,001 — & 14,00,000
# 10,00,00) — ¥ S1,00,000 @30%
Tol = 1342,500
Add: Surcharge (@) 10% 2 14,76,750
(B) Above amount IS restricted to
Tax on $50 lakhs + (NTI ~ 50 lakhs)
£13,12,500 + & 1,00,000 2 14.12,500
¢C) Tax payable: lower of (A) and (B) 2 1412,500
‘Add: Health and education cess @4% £56,500
Tax liability 3.1469,000
(D) Marginal Relief (A= BY 164250
Question 3
Compule the tax lability of Mc. B (aged 61), having total ineome of © 1,01,00,000 for the
‘Assessment Year 2023-24. Assume that his total income comprises of salary income,
fheome from house property and interest on fixed deposit. Assume that Mr. B has not opted
for the provisions of section 115BAC. [SMa]
Answer 3
Computation of tax liability of Mr. B for th -¥. 2023-24
(A) Tax payable including surcharge on total income of € 1,01,00,000
22,50,000 -% 5,00,000@5% 212,500
25,00,001 — 2 10,00,000@20% 2 1,00,000
2 10,00,001 - € 1,01,00,000G30% = 27,20,000
Total 2 28,42,500
Add: Surchorge@ 15% 24,26,375
‘Tax liability without marginal relict £32,68,875
(B) Above amount is restricted to |
Tax on | erore + (NTI 1Ce)
(28,12,500 + 10% surcharge) + 1,00,000 3 31,93,750
(C) Tax payable: lower of (A) & (B) 3 31,93,750
‘Add: Health and education cess @4% 2122.70
Tax liability £33.21,500
75,125
(D) Marginal relief (A-B)
(© Scanned with OKEN Scanner ‘Chapter 1 Basle Concepts |
Question 4 ji
Mr. Raghav aged 26
comprising his balan meets, 2nd @ resident in india, has a total income of € 440,000,
ry income and interest on bank fixed deposit. Compute his tax liability for |
[sMo}
te
s
a
1
Answer 4
of Mr. Raghav for A.¥, 2023.24
Particulars TT ]
Tax on total insome of & 4,40,000
Taxt@s*of® 1,90,000 (€ 4,40,000 — 2 2,50,000)
Less: Rebate ws
[ax tiatitey
‘Question 5
Mr. Dinesh aged 95 years and a resident in india, has a total income of & 4,80,000,
comprising of long term capital gains taxable uls 112. Campute his tax lability for A.2023-
4 [sma]
Answer 5
Computation of tax liability of Mr. Dinesh for A.Y, 2023-24
| Particulars
Tax on total income of ¥ 4,80,000
| Tax@20%60F T 2,30,000 (7 4.80,000 =F 2,505,000, bei
\g unexhausted 46,000 |
basic exemption limit)
|Lese: Renotews 874 (Lo
Add: Health and edueati
} 34,840]
‘ax Liability
Question 6
Who is an “Assesseo"? [sma]
Answer 6
‘as persection 2(7),assessee means a pe
under the Income-tax Act, 1961.
In addition, the term includes
son by whatn any tas or any other sum of money is payable
+ Every person in respect of whom any proceeding under the Act has been taken forthe assessment
of
his income; or
Ce
(© Scanned with OKEN Scanner OF Which he is assess
mor by such ethee per
due to
itm o¢ to stich other p
“to be
provision of the Act
deemed ta be alt wind
provision of the Aet
NY four indta,
stances where the ini f the previous year is a a
7OUS Year sel lance ere fe income of the yes issessable ln the
‘assessment year. (smaq
The ing
he income of f
a An assessee for 0 previous year i
following the previous very. Howes
which it is eamed 7
srged to income-tax in the assessment your
score is taxed i the. previous year in
Se exceptions have beea made to protect the interests of revenue. The
ia port in
dF satisfactory 3
Payable to th
India on acount of su
‘year in whiel
by
the ship §8
goods shippee
jeave the port onky when the tax has been
thereof. 7.5% of the freight paid oc
is babi, wh
i been niade for pay
ny person on
i) Where it appears to the Assess
the total ineos
up t0 the probable ¢:
(ii). an AOP/BOL ete. is formed or
Officer appeciends that the AOP/BO!
year, he can make assesshie
levant asse
may leave India during the current
‘no present intention of returning to India,
of the respective previous
3 chargeable to fax in that assessment yeat,
or a particular e
likely to be dissolved
ncONNe i
‘OF PURPOSE and the Assessing
the same year or in the next
to the date of dissolurion as
Asscesing Officer that a persen i
h any of his-ass.
person for the petiod from the expiry of th
es proceedings under this section
ied in
he date of
it year, the income of the
ih discontinvance may, a the
vin thal assessment year,
Question 8
Mr. Agarwal aged 40 years and a resident in India, has a total income of % 4,50,00,000,
comprising long term capital gain taxable u/s 112 of ? 55,09,000, short term capital gain
taxable u/s 1114 of & 65,00,000 and other income of % v,30,00,000. Compute his tax liability
pg eres. Assume thal Mr. Kashyap has not opted for the provisions of section
115
[smQ]
rea
(© Scanned with OKEN Scanner Answer 8
Computation of tax tinbitity of ir.
Particulars
fF $.50,00,000
Pion LPOG of € $3,00,000
TaxG@l5% STCG 1114 of 7 65,00,000
Tax om other income of 3,30.00,000
2,50,000 - © 5,00,000.@s%
3 5,00,000 ~ & 10,00,000 2004
1 10.00,000 ~ 2 3,30,00,000 ax
Tax on total incom
Tax?
Add: Surch
(Chapter 1: Basic Concepts:
Agarwal forthe A.Y.2023-24
a I
|
11,00,000|f
| 9,75,000| |
|
12,500] |
100.000)
6,00,000
| tsa
suns
1.5107
Question 9
Mr, Sharma aged 62 years and a resident in India, has a total income of % 2,30,00,000,
comprising long term capital gain taxable wis 112 of 2 52,00,000, short term capital gain
taxable u/s 111A of 3 64,00,000 and othar income af ® 1,14,00,000. Compute his tax Viability
for A.¥.202324. Assume that Mr. Sharma has not opted for the provisions of section
115BAC.
Answer 9
| Tax @ 15% of & 64,00,000
ax on other income af €
2 3,00,000— % 5,00,000 5%
75,00,000—% 10,00,00
|& 10,00,000~& 1.14.00,
Add: Health and education cess @4%
‘Tax Liability
EI
aco}
[sma]
| 10,40,0001
| 960,000
|
|
10,000}
100,000)
|
0,000
| 2.40580}
[___62,55,080] |
(© Scanned with OKEN Scanner ‘Chapter 1: Basic concepts
Question 10
Compute the tax labiity of Mr. © (aged 37), having total income ol € §,01,90,000 for the
Assessment Year 2023-24, Assume that his total income comprises ot salary income,
Income from house property and anterest on fixed deposit. Assume that Wk. © has net opted
for the provisions of section 1 45BAC tsa}
Answer 10
ity of Mr. Dor the ALY. 2023-24
me of & $,01,00,000
Computation of tax
(A)-Tox payable including surcharge on t0%a i
3.2,s0,000 - € $,00,000@5%.
£.5,00,001 —€ 19
& 10,00,001 ~ ¥ 5,01,00,000
Toa
2491Lns
20334108
Add Surcharg
Ta liability without
(By Above at
‘Taxon S crove + (NTH -SCr)
(1,48, 12,500 + 25% surcharge) + 100,000 286,135,695
(C) Tax payable: lwer of (A) & (B)
Add: Health and education cess @4%
Tax liability
sginal relief (A-B)
(© Scanned with OKEN Scanner BP ake otySelery
@ SSVIRTUALS
Question & Answers
Hf
Make MyCeliven
OP vieriyodury
A Compilation of more than 400+ Study MAT, Past Exams and RTP / MTP Questions
By CA BHANWAR BORANA
(© Scanned with OKEN Scanner Residence and Scope of
Total Income
Question 1
Mr. Anand is an Indian sitizen and a member of the crew of a Singapore bound Indian ship
‘engaged in carriage of passengers i
intemational traffic departing from Chennai port on 6th
June, 2022. From the fallawing details for the P.. 2022-23, determine the residential status
‘of Mr. Anand tor A.¥. 2023- 24, ass
suming that his stay in India in the last 4 previous years
(precening PY. 2022-23) ig 400 days:
{SM a.
Particulars | Date
Date entered into the Continuous Discharge Cerfiicate in respect of /@th June, 2022 |
[joining the ship by Mi Anand i" \
Date entered into the Continuous Discharge Cerificate in respect of
Sth December, 2022 |
Signing off the ship by Mr, Anand | |
Answer 1
In this case, since Mr. Anand is an Indian citizen and leaving India during P-
‘of the exew of the Indian ship, he would be resident in India if he
more
a8 & member
stayed in India for 182 days or
The voyage is undertaken
Indian ship engaged in the eamiage of passengers in international
traffic, ori from a port in India (i.e. port) and having its destination at a port
‘outside India {i.e., the Singapore pert), Hence, the voyage is an el
section 6(1),
igible voyage for the purposes of
Therefore, the period begin
from 6th June, 2022 and ending on Mh
dates entered into the Continuous Discha
from the ship by Mr. Anand, an
excl
December, 2022, being the
€ int respect of joining the ship and signing off
who ig a member af the crew of the ship, has to be
in India. Accordingly, 187 days (25 + 34 +31 430+
cluded ftom the period of his st
1 PAY. 202;
cl for computing the period of his st
31 + 36 + 9] have to be
period of stay in India du
in India. Consequently, Mr, Anand's
ng 23 would be 178 days [i.e., 365 days ~ 187 days). Since
his period of stay in India dur -Y. 2022-23 is less than 182 d: 8, he 18 4 non-resident for AY
2023-24,
Question 2
Brett Lee, an Australian cricket player visits India for 100 days in every financial year, This
has been his practice for the past 10 financial years,
(a) Find out his residential status for he assessment year 2023-24,
(b) Would your answer change if the above facts relate to Srinath, an Indian citizen who
resides in Australia and represents the Australian cricket team?
{¢} What would be your answer if Srinath had visited India for 120 days instead of 100 ae
every year, including P.¥.2022-237 [sq]
Emad
(© Scanned with OKEN Scanner tt hee for the AN.
us your 2022.23 = 100 days
al of stay during preceding previous years (
year 2022-25 and for
‘years. Therefore, snes
he assessment yea
5 period! mol
ig the 4 immediately preceding previo
section 6(1), he is a residen
100 x 72700
100 days
Lo0:days
aore20 | Todays
I - 100 da
1 ——
[prs - 100 days
2016-17 [ 100 days
fois-t6 | 100 davs
| Totat a0 days
Since hi fous years Is less than 720 days, he is not-
ordinarily resident duri
Therefore; Me. Brett Lee is
f
(b) I the above facts relat
visit 10 India, he weld
(excluding income fem for
any case, less than 120 de
uring the previous year 2022.
vant to the assessine
to Me. Sr ndian citizen, who residing in Australia, comes on a
a, irvespestive of his total income
im the current financial year is, in
(e) In this case, if Sri
he would be treated as resident but
in India is 120 days in the P.¥-2022
four preceding previous y
IF his total income {excluding income from foreign sources) does’ not exceed & 15 lakh, he would be
treated as non-resident in India for
P.Y.2022-2
(© Scanned with OKEN Scanner ‘Chapter’2: Residence and'scope'
‘Questions 2: Rest in ‘StTatal Income
01 ie
18-18, 2019-20, 2020.21, 2021-22 and 2022-23, he was in India tor 55 |
70 cays, respectively. Determine his residential
Answer 3 tsa |
During the previous year-2
the previous ye . 022-23. Mr. B-was in India far 70 days and! during the 4 years preceding’
Tab hed tis days (Le. 55+ 60+ 90+ 150 days). }
the proviour vane ic condition under se ). Therefore, he is a non-resident for |
Question 4
The business o:
there ae Stee : transacted from Australia and all the policy decisions are taken |
2022-23 after 15 ahr” the HUF. who was born in Kolkata, visits india during the P.Y.
1-12 2022, Deomngeats, FH@ comes to India on 14.2022 and haves tor Austral on
Seuenk residential status of Mr, E and the HUF for AY. 2023-24, [SM Q.]
(@) During the FY, 2022-23, Mr, £ 3
uring th 2022-23, Mr. E has stayed in India for 245 da
+314 30+ I days), Therefore, he is 9 re
years. he does net satisfy the condition fir
of Mr. E fe
30431 +30+51+
India after 1S
Therefore, the reside
3 is resident bun not ordinarily
PY, 2021
(b) Since the business of the HUF is wansacted from Ati id policy decisions are taken there, it
med that the com ment as in Australia ic., the control and management is
wholly outside India, Therefore, he HUF is a non-resident for the P.Y. 2022.
Question 5
Mr. David, an indian citizen aged 40 years, a Government employee serving in the Ministry
of External Affairs, left India for the first time on 31.03.2022 due to his transfer to High
‘Commission of Canada. He did not visit India any time during the previous year 2022-23. He
has received the following income for the Financial Year 2022-23:
i Cas eg Red ee
Particulars [exes
{__()_ | Salary (Computes) 5,009,000]
| Gii)_ [Foreign Allowance [not included in () above} 4,00,000|
|
[Gi _[Inierast on fixed deposit trom bank in Inca 1,00,000|
| Giv)_|Income from agriculture in Nepal |__ 2.00,000|
iz \ ! 2,50,000
|) __|Income trom house property in Nepal |__ 250,000] |
Compute his Gross Total Income for Assessment Year 2023-24. (sma)
Answer 5
x section 6(1), Mr: David is a non-cesident for the A.Y, 2023-24, sisiee he was not present inf
ar 20)22-
India ing the previous ye
As per section 5{2), si non-resident is ©
ceived of deemed to be received
to acerue oF arise i
tax in India only in respect of following incomes:
hargeable to.
in India; and
(2) Income
India.
(ii) Inec
eM tame k
(© Scanned with OKEN Scanner Chapter 2; Residence and Seone ot Total nea! ;
ein N
jal and income Btopen,
H mamg that HE SINE WEFe reCEee
Iny
ew of th
resident
Nepal would ongcable
ie. Nepal. income fiom “Salaries” M
enuered outside India is deemed 10 aes
incom ae ora David, eve s
J of allowed as 5
fot use It ex 0
df David for A.¥. 2023-24
he 99
ly aurside India by the Government tg
pt under section 10(7). Hene
is of Me, Dawa
taxable in
However. allowances of
citizen of India for sendsring 82°
vance of € 40,000 is exer
forse
eomne of ME
Particulars
[Gross Total Income
Questions
Miss Vita paid @ sum of 5000 USD Io Mr, Kulasekhara. @ management conmulant
preciising in Colombo, specializing in project financing. The payment was mace in etam bo,
Tir Kulagekhara fs a non-resident. The consultancy Is relaied to & project 19 India wit
possible Geylonese collaboration. 5 this payment chargeable 10 tax in Incka in the hands of
ir. Kulasekhara, since the services were used in India? (sma)
Answers
A non-resident is chargeable to tax in respect oF inenme received outside India only if s
icorucs or arises or is deemed toaccrve or arise to him in India
i income,
‘The income deemed to aeerue oF arise an in
of fees for technical servic
tech
whieh ineludes any consi
cy services, Therefore, payrnen
covered within the 5
managerial,
lating to project
Explanation below section 9
services, from services utilized in India wou
silent and be sf i his total income, wh
whether or not the none resident has a residence or
In the in
Kulasekha
pe by
25 for technical
services wer
red i India
ness oF business connection tn In
ant case, sinee the s%
non-resident,
ces were wilized in
received by: Mr,
is deemed to
Question 7
‘Compute the total incame in the hands of an individual aged 36 years, being a resident and
ordinarity resident, resident but not ordinarily resident, and non- resident { -
gona a esident for the AY, 2023.
Particulars
cs Amount (%) |
[Interest on UK Development Bonds, 50% of interest received in India | 10,000]
[Income from a business in Chennai (50% is received in india) SS | 20,0001
| Short term capital gains on sale of s ‘Ind 1 |
\poson 9 '@ of shares of an Indian company ‘ered 20,000|
aera
(© Scanned with OKEN Scanner Poarticuiarg
MISH Comper, -
PANY Lect n Canon
Divictond trom Br
Long torn
Foveived i
P of plant at Germ,
© Of profits are 40,000
'ANy which in controded trom Dau |e 70,000
“G94 Oniticaly trom Lone |
1 foe 15,000
brovgnt to en eiae
50,000
Prot
lod itt Nepal recty
me ti nin Kenya which was sat i, t0ce
Git re Occasion of ;
bank depose in 1 fi
Answer 7
Camputation af total income for tie AY
Particulars Resident and | R
(© Scanned with OKEN Scanner iad | Resident bur
‘dinarily | mat ordinarily
ident resident
r
tavable] }
i
Ly ]
p mt |
fn 3,000)
[Exempe
der seexion JUC)f
<8 Total Income
3.52.06 2
det section BOTTA. = 2.19,000) 1.83,000]
Total Ine : 0 10,000}
4.42.00
$2,000) WAM) 1,73,008)
CA Bhanwar
(© Scanned with OKEN Scanner Qucsiicn ‘Chopter 2: Residence ana Scope of Total income
Me. Bam, an ni
2 company ia Garren stl Inia on 22.08.2002 fo he tit tine ta work ae an ofc ot
peas ine the rasierial sie af Fam or iho tesccemem yess |
Answer teu} |
i citize
Under section 6(1),
‘one of the
indi
following conditions -
4) He has be
1s said to be resist i In
dia in any previous year i he satisfies any
India luring th
(G8) He has been in incl
| Of 365 days: or mor
lia during the 4 years immediately ;
eding the previous year for a total petiod
S160 days in the previous ye:
oe ae be for employment, the period of stay during the previous
ng the previous year 202% 25
HAO ATS120 dye) Thee
in Indian citizen, was im tnd
for employment purpases.
or 82
178 days only (is,
nom-tesident for the AY. 2023-24
ays stay in Incl curing the relevant previous
Question 9
Mr. Dey, a non-resident,
Dey, ident, residing in US since 1990, came back to India on 1.4.2021 for
Permanent settlement. What will be his residential status for assessment year 2023-247
M03
Answer 9 ss ,
Mr. Dey is a resident in A.Y, 2023
than 182 days) during the P-Y. 2022
AS per section 6(6), a person will
person, Inder alia,
4 since he has 3
-4 in India
3 period of 365 days (more
Resident” in India in any previous year, if such
(a) has been a non-resident in 9 out of 10 previow
preceding the relevant pre
(b) has during the 7 previous years immediately pree
flor 729 days or fess
2 the relevant previous year been in India
If he docs not satisfy cither of these condi
For the previous year 2022-23 (A.Y. 2023-24), hic st
resident” since he was non-resident in 9 out of 10 previous y
ns, he would.be a resident and ordinarily resident,
us would be “Resident but not ordinarily
rs immediately preceding the PY,
20; I be resident but not ordinarily resident also due to the fact that he has stayed in tndia
only for 363 days (.e., less than 730 days) in 7 previous years immediately preceding the P.Y. 2022-
23.
Question 10
i the
Mr, Ramesh & Mr, Suresh are brothers and they eamed the following incomes during 1
financial year 2022-23, Mr. Ramesh settled in Canada in the year 1896 and Mr. Suresh
settled in Delhi, Compute the total income for the A.V. 2023-24. [SM Q]
| Mr, Ramesh | Mr. Suresh
(moe Particulars
[ sr. No. | [steele
35,0001 40,000) §
jist | |
Interest on Canada Development Bonds (only| |
|50% of interest received in India)
|
on] 28,000
TDividend from British company received in Lon
aro
(© Scanned with OKEN Scanner ~ Partieviars
|Protks trom a business in Nagpur. but managed
|eseectiy ram London _
Shon wore capital gan on gale of shares of an
any racewved in India
a business in Ghennal
| Fees for technical servcos ‘yendered in India, Du
in Canada
Ton savings bark Gapest i UCO Bank.)
]Ront received in respect of house property at
Bhopal
ile insurance pre _ 36,000 |
Answer 10. |
‘Computation of tot of My, Ramesh & Mr, Suresh for the AY, 2028-24 |
eT Particulars Me: Ramesh | Sin Sureah
fs] ue taraee| teasen|
= Oo ® | a
earn op Covad Developnen Bond (See Nowe) ; a
Noveidend ten Beiah: Company reeled in London Sco c.0%0}
| * Frees)
| 3. rons toon business in Nogpur but sunaged 190,000} 1
| ndon (See Note 2)
piel gn be hare en ota 6
ived in India (See Note 2) | i c
$. come from a bus |
| -ro0
1,900,000 | 2
I" |
J 2 [ttre on savings. bank deposi in UCO Bank. 5 |
|? [hee ovo] 12.000 |
| & faprcutterat oi tal Stud fn Ania Prades | \ a
I See Note 4) . ]
[income from house orty at 1 (8 |
ft house property at Bhopal (See Nate Sp 70,000| as: |
| |eess Toa incom
| fess: Deduction under Chapter VA ‘s4s00/ 4.14000]
| pice V |
! | [Section 80€*- Life insurance |
| |Seotion sora (See Note) hee
‘J Totat ticome 10,000
| 374,000]
ee eae
(© Scanned with OKEN Scanner Notes:
1. Me. Ramesh
settled in Deli
‘Chapter 2: Residence and Scope'et TetalInEGHE
is non-resident sl
and thus, assur
2 In case of a resi
= fhe has been living ia, Canad
8S 8 Fesident and ordinal veakeus
nce 1996, Mr. Suresh, is
Hi case of & resident and ont
However, as pe
chargeable tog
(Income received or deemed
i) Income aceruing o
ci
section $(2), in
resident, his global income is wxubl
= some is uable xs per section 541),
Se OF & nonsmecident, ely the following incomes are
to be received in India; and
Ng or deemed to aeerue or arise in India
orvices rendere
even though he is nonraedlen ee Fa
Th income tera i
Mr Surah ee thy serene Oa
Interest on Canada
whereas only 50%
Therefore, fees for
Ram
would be taxable in the hands of Me
‘Sand 7 are taxable in the hands of both Mr, Ramesh and Uy
aise deemed o accrue or ar in Indi e
Development Bord. oul
& Which is received in india
id be fully taxable in the hands of Mr, Suresh, um
is taxable in the hands of My, Ramesh
+ Dividend recived i
eco ea foot Bish company ia Lond by Mr Ramesh, non es ot
Simi sine it accrued onal bs recived oti Inia Hormone, such aidend rosie by te
he isa residsat and ordinarily resident, ha
I incorne from 4 land sit '
sideents and resides
4. Agricultu
bath now
od in India is exermpt under section JO(1) in the ease of
Income from house preperty-
f
Mr. Ramesh | Sure |
i i) ®)
[Remi received | 1.00.00 40,000
|eess: Deduction under section 24(ay 2300 30,000) is.000
[Net income from house property 70.000
The net income from hawse propery in India would be taxable ithe b
and Mr, Suresh, since the accrual and receipt of
6 Incase of an individual, interest upto 10,000 from saviegs accowat with,
allowable as deduction under section S0TTA,
Question 11
Examine the correctness or otherwise of the statement - ‘Income deemed to accrue or arise
in India to a non-resident by way of interest, royalty and fees for technical services is to be
faxed irrespective of territorial nexus” [SMQ]
Answer 11
This statement is co
As per Explanation
which is deemed 10 i i
be included in the total income of the non- resiclent, whet
he same are in India.
cet,
y of interest, royalty af fees for technical services
virtue of clauses (¥), (vi) and (vii) of section 9(1), shall
section 9, income by
srue or arise it India
OF Nok =
(i) non-resident has a residence or place of business or business connection in india: or
a India
ical services, interest or royalty from services utilised in
ise in India in ease of a non-resident and be included in his fi
vices were rendered in India and irrespective of whether the non-
ection in India
i
(ii) the non-resident has rendered se
me by way of fees for tec!
In effect, the inc
India would be deemed to aceru
t income, whether or not such sery
resident has-a residence or place of business oF
busine:
tard
(© Scanned with OKEN Scanner te
testion 12
Exam
ne with wi
hands of recipionts. nother
( Salary paia by Contra!
Services rendor fo india.
coe rendored Ouse HO ido inca & 5.0
Interest on moneys
Purpose of business
(i) Post office savings bank
aged 46 years.
(iv) Royalty paid by a re*
ina.
(0) Legal charges
tec veprosent a caso ath
Answer 12
sskdant 10
—,
Taaable/Nat
Taxable tox (2)
Government 10
bos
seit in
rorast af & 19,000 recel
of ® 5,00,000 pai
=
e-tax in India in thy
"Residence sna seepe.ot rarstineo™®
tne tolowing wanactons atiraat incom
ie, doh, acinar of india 7,00,000 tor the |
0,000 by @ non-rosident for the
say, at Mumba:
ved by a rasisont assessee, Mr. Ram,
‘a non-residant in Fospact of & business carried on outsigg
1a in Dol to a lawyer of United Kingdom ‘wha visiteg
(sMaj
19 Delhi High Court.
Taxable 650.000
2 citizen of I
be deemed t
by Central Gor
outside fm
he is ac
Taxable
10,000
exempt wis
‘of an indivi
busines
ness curried outside tn
sinus OF
arises in Inia 0}
fiw: 7
lawyer of UK
Delhi t|
nindin
2 case at the)
CA Bhanwar B:
(© Scanned with OKEN Scanner ih cae
mh | (Chapter 2: Residence and Seope of Total neomis
foe | Cation 9
se EE we
tar (age 45 years), @
my | ME Se 5 an tng ne My Pe
Sng | nmyor ange sucron on 88 Mach ete acre ae
ran, | f
| rome gee sae
Iii Fig oie wae scones
a | Salary trom Government of India 9.25.
| | Foreign Allowances trom G ee
- Sovernment of India | 2.0000)
Mr, Shridhar did not come:
“Toil Income forthe Assossan yea ag, ane! yeer20zz2. Come ns ess
Answer 13
Mr, Shridhar is a non-resident f
: 4 non-resident for the A.Y 2023
during the previous year 2022-23 [Section 61)
AAs per section $(2), & non-resident is chargeable to tax in Indi only in respect of following incomes:
since he Was not present in India at any time
| (i) Income received or deemed to he received in India; and
Income aceruing or arising or income deemed to accrue of atise in India,
Computation of Gross Total Income of Mr. Shridhar far A.¥. 2023-24
aes
Salaries
Salary from Government of india \
(Income chargeable under the head ‘Salarics' payable by the Government 19 a citizen ail
India for services rendered outside India is deemed to accrue or arise in India under
ection 9(1)Gii), Hence, such income is taxable in the hands of Mr. Shridhar, a citizen of
via, even thotigh he is a non-resident und yendering services outside Lia)
Foreign Allowance from Government of India
isites paid or allowed as such outside India by the Sees)
[Any allowances or perq|
Jering service outside India is exempt under section 10(7)]
to a citizen of India for rend
9,25,000 |
of T 50,000, being lower of gross salary} 50,000)
Gross Salary
| rd Deduction under section 16(ia)
Less: Standar
lor 7 $0,000 |
8,75,000
Nil
Income from House Property
situated at Aus
edt outside India would not
ther acerues or arises in Indi
dia)
tralia, received in Australia
‘be taxable in India in the hands
a not is it deemed to accrue oT
}Rent from a hous
(Income from property situat
ofa non-resident, since it nei
arise in India nor is it received in In
Income from Other Sources
gs bank seeount — exempt
pot 3,500
Interest-on Post office saving
Gross Total Income
Nec
(© Scanned with OKEN Scanner Chay
| Rete s
Note NiSh¢8 tnd Seopaict rater ineome
Interest on 1 hank account of € 1,000 would be
Section So gO Pest ofice saving hank
Hon 14
allowed as deduction iy
Ques
YOU aro required to determine the residential status of Me. Dingsh, a ciiz6n of Indi, tor ta
Previous year 2022-23,
Mr. Dinesh is a member of crew of a Singapore baund Indian ship. carrying passengers i
{he intemational waters, which lef Kochi port in Kerala, on 16th August, 2022.
Following details are made avaitable to you for the previous year 20:
[Dato entored ito the Conirecus Discharge Carica m Feapeci| 16th August, 2022
| joining the ship by Mr. Dinesh
|Date entered into the Continuous Discharge Certificate in respect | 21st January, 2023
lot Signing off the ship by Mr, Dinesh
In June, 2022, he had gone out of India to Dubai on a private tour for @ continuous period of
27 days.
During the last four years preceding the previous year 2022-23, he was present in india lor
425 days. During the last seven previous years preceding the previous year 2022-23, he
was present in India for 830 days, IRTP NOV-20 94
Answer 14
Determination of residential status of Mr. Dinesh for the PY, 2022-23
As per Explanation 1 to section 61), whe
Indian ship, he will be resident
previous year.
Ans
an Indian citizen leaves India as a member of crew of aa,
n India only if he stayed in India for 182 days during the relevant
AAs per Explanation 2 to scetion 6(1)1, in case of an individual, being a citizen of Indiasand a member
he crew of a foreign bound ship Iaving India, the period or periods of stay in India shall, in
respect of an eligible the period come ftom the date entered into the
Continuous Discharge Certificate in respce! of joining of ship by the said individual for the eligible
voyage and ending on the date entered into the Co ate in respect of signing
‘off by that individual from the shi
Eligible voyage in:
in imtemational traft
India
din the carriage of passengers
wing is destination at a port outside
In this ca
passeng
destinat
pound End
afi, originating from a por in ind
d in the carriage of
he Kochi port) and having its
the Noyage is an
pirat a port outs
Therefore, the period from 16th Augusi, 2022 and e
for computing the period of stay of Mr. Dinesh
(16+30+31430+31421] has to be exeluded for eo
P.Y.202:
ary has to be excluded
ondingly, the period of 159 days
period of his stay in India during the
Further, since Mr, Dinesh had
period of 27 days in June, 202:
in India during the P.¥.2022-23,
so gone eut of India to Dubai on'a private tour for a continuous
such period has also to be excluded for computing his period of stay
Consequently, the period of stay in India during the P.Y., 2022-23 would be 180 days fie, 366 days ~
159 days — 27 days], which is tess than [82 days. -
Thus, Mr. Dinesh would be a non-resident for A.Y, 2023-24,
Cera
(© Scanned with OKEN Scanner (Chapter 2: Residence and Scope ot Total income
Since the resi
Since th esha of Me, Dini is gone” or AY. 202124 comet
inthe ea i ‘being less than 182 days, his period of stay in India
Question 15
Me. Dhrwy, 0
i Mr, Dru 9 rea of dan ot ae ite of Cony ot maria Me, Dee ah
| time on 20-02-2022. He loft intry %, on 4th February, 2022 and came to India tor the first
| on 20-01-2028 with his for Country X on 72th August, 2022. He returned 10 India again
| thereafter retumed to cones ‘ spond aon time with his parentssin law for 30 days and
‘ 2023.
He received the tollowir
| He received tha folowing git irom hie reales. ana friends of Ror wife ing 01-04-2022 10
+ From parents of wife eter
| - From married sister of wife 211,000
«From very close friends of his wile = 282,000
{(@) Determine his residential status and compute the total Income chargeable to tax along
‘Assessment Year 2023-24.
with the amount of tax payable on such income for the
(py Wel roerancine shang te nanroctied % 16,00,000 instead of & 2,82,000 trom very
geen ars of his wife during the previous year 2022-23 and he stayed in India for 400
jays during the 4 years preceding the previous year 2022-237 (TPQ)
Answer 15
fa) Determination of residential status and computation of tots!
Mr, Dhruv
1 income and tax payable of
Under section 6(1), an individual, being « person of lndian origin aod who comes on a vii wo lal
ring the previous year and his total income other then the income from foreign Sree exceeds t
TS 00,000, fs said to be resident in India, if he stayed in India fora total period of 120 days oF OTE
dosing thet previous year and for 365 days or more during the 4 years immeditcly preceding the
relevant previous year
sc, the total income other than the income fr
aid individual is said 10 be resident in Indit
1 previous yea
Jame other than from foreign source.
(00.000, he would be said to be resident in India onty if he sta
3 relevant to A.Y. 2023-24.
om foreign source does not exceed &
‘only if he stayed in India for a total
However, in cast
15,00,000, the 0
period of 182 days or more durit
Since in the present case, total ime
exceed 2 1
more during the previous year 202
3 is as under:
134 days
= 30days
of Mr, Dirav. « person of
ed
Indian origin does not
in India for 182 days:
His stay in India dusing the previows year 202,
(01.04.2022 to 12.08,2022
20.01.2023 to 18.02.2023
Total 164 days
Since Mr. Dibra has stayed in India during the fr viows year for Yess than 182 days; he is seid to Be
om-resident, Accordingly, his total income x! tox payatble would be computed in the following
manner:
te
(© Scanned with OKEN Scanner I be exemty
1 chargeable
2 1,01,000 received
ti within the dei
will
|
| 282,000]
from clase
| 282,000!
come
om total irene OF 8 2.
lnasie exernpsion fmt]
Ada Health and Education
ir
[rotatex payable (rounded ff) ——
and computation of total income and tax payable of Mr.
from non-relative for? 16,00,008
otal tax payable
(®) Determination of residential sto
Dhirus «if he has received east gi
idual, being a persen of Indian oF
an ingome from foreign sourees exceeding & 15
is said to be resident osm Unie
for 365 days or more during the 4 years imme
(6) such Those stay in India is
and he is having
year for 120,
As per sectio Baers bel es ran Yea ys
in the PLY. 2
9, of days of stay in Hoda in
and his stay in
a who his come ona vis
ome from foreign sourecs excee
Dhruy, is @ person of
ince his other than
ng the PY
is resident bur not orl
India is
precedi
a lax payable would by Compauied in the followin
ind tax payable of Mr. Dhruy for the A.%’. 2023-24
[cash gifts received from nen-el
Lue ts exccods® 50,000
bbe exempt, since
id gilts from a relative are mot |
Een
(© Scanned with OKEN Scanner Question 16
chonter
[rari
€ 11.0 eeived fom maid sacoie
Within the definition af
tax.
. inlaw is exempt, since sister of wife falls
tlative and gifts fom rtive ae no chargeable |
li ise
secon Sey) see
lose fiends of his wits of & 16,00,000 j
ae o ,000 is taxable under] 16,00,000
the amount of cash gifts exceeds ® 50,000, |
| sass
Tax on total income of 16,00,000 |
|ipet somo xa wv I
50,001 — © 5,00,000 [8 2,50,000 @ 3%} 13,500 |
r
IX ,00,001 - 2 7,5
000 [® 2,50,000 @ 19%) 25,000 |
® 7.50,001 — & 10,00,000 [2 2,50,000 @ 15%) 37,500
|= 10,00,001 ~ @ 12,50,000 [x
110 @ 2096) $0,000
¥ 12,50,001 ~ 8 15,00,000 [¥ 2,50,000.@ 25%) 62.500 |
= 153,00,001 — € 16,00,000 [€ 1,00,000 @ 30% 30,000 | |
8,700|
| 2,26,300|
|Add: Health and Education e |
s8aI%
Note = Since his tax payable’as per normal provisions is % 3,04,200 [8 2,92,500 (& 1,12,500 plus 30%
con € 6,00,000 income exceeding & 10,00,000) plus & 11,700, being health and education ccss. @4%5),
which is higher than the tax payable computed as per concessional tax rates available under section.
1I5BAC, it is beneficial for him to opt for section 11SB:AC
Mr. Roxx, a citizen of the Country Y, is a resident but not ordinarily resident in India during
the financial year 2022-23. He owns two house properties in Country ¥, one is used as his
residence. Another house property is rented for a monthly rent of § 18,000. Fair rent of the
house property is $ 20,000, The value of one GYD ($) may be taken as 78.
and possession of a flat in Delhi an 1.10.2022, which is used for self
in India. The flat was used by him for 3 months at the time when he
year 2022-23, The municipal valuation is % 4,58,000 p.a,
and the fair rent is 7 3,60,000 pa. He paid property tax of % 15.800 and T 2,600 as
Sewerage tax to Municipal Corporation of Dethi.
Ha had taken a loan of ¥ 18,00,000 @9.5% from HDFC Bank on 1st August, 2020 for
purchasing this fiat. No amount is repaid by him till 31.03.2023.
ty in Bangalore which is let out on a manthly rent of © 40,000.
Led oenieesp ler OTA O00 p.a. and Municipal value of & 9,58,000 p.a. and Standard
i hich ig ® 4, '
Font of ee one the’ nad taken a loan of 2 25,00,000 @ 10% from one ofnis frends,
residing in Country Y for this house. Municipal tax ‘of £5,400 is paid by him in respect of this
house during the previous year 2022-23.
Compute the income chargeable from house property o|
2023-24.
He took ownership
occupation, while he is
visited India during the previous
Mr. Roxx for the assessmment year
[RTP MAY-21 Q]
amas a
(© Scanned with OKEN Scanner &
z iden Se Total ome
“ - oe " we income in resy
me zien fm ti cy mason 18 ‘Gus
Sir gedinarity. FES
RCE ME, Roxy, ig-a resident creim bis HONS: gue Letom property and arma, %
Propertiss situate india 0 2 County ¥ from the 16 one arising rom
Thus, te rental ingore whit ETI te in Wis bi
‘Yalue of selt-aeeupn proeet” NOUN Arh BONE cau eenouma
Properties in ina are able i :
Accordingly, the income fo :
Particutars
1 value | is
Less Dedhieion under section 24 | aol
spital (See Note below)
| J rotrest en bornawed capital (See Note (2,00:900)
| chargeable ino
2, | Let out house property at Ba ord oa aia |
Expected rent, t of #358900 munca vale and
Fa ont of € 4.56000 but restricted (0 Standaed reat of €)
Actual rent [40,000 x 1 ;
ean enial 480,000
Gross Annual Value, of expected rent and ae “| | |
rent | vel |
Less: Municipal taxes |
4 74,600)
Net Annual Value
Loss under th
} (@-2,00,000 - 282,220)
reston bortowed capital
Add: 1/Sth of pre-construction interest (2 2,85,000 x 1/5)
1.8.2020 to 31,03.2021 - (% 18,00,000 x 9.53% x 8712) |
14.2021 to 31.05.2022 ~ (® 18,00,000 x 9.59%)
Interest deduction allowable under section 24, restricte
sad "Income from house property |
—
ad
3,780),
| 57,000)
1.14060] \4
171,000)
28,000)
|___ 200,009
ced
(© Scanned with OKEN Scanner | Cinnsiies (Chapter 2: Residenes and Scope 6! Total income
S1aIUS and total income of Ht.
ore fomatn pen tata
| Gis, 8° £2 2281). n Amoiean cz, ie omplayed wh a muinatenal company in
Raghu hotds. a
2009: To share his knowledge asen owe) Posiion a8 esaarcher in the company, nes
is finding in sesearch, compary gave him an opporeani
S04 companies outside India wile cominuing to ba based alte Gute are
Flaghu for tha assessment year
©f his travel outside
‘dia for the financial year 2022-29 are as under:
___ Sountry ia
fe
[arene
~ [25 Ang 22 10 Nowa
pe 2 |20 Nov
as = her, 2022 to 23 December, 2022
many = — ——
us _|10 January, 2028 to 24 March, 2028
During the last four years preced
3 years preceding the previou
380 days. During the last seven Seite yee
was prosent in tn
incomes:
year 2022-25, he was present in India for
i Prévidus years preceding the previous year 2022-23, he
for 700 days. Buring the P.¥, 2022-23, he eamed the following
(1) Salary © 15,80,000, The eitive salary ie ald by the idan company in hs Indian bank
(2) Dividend amounting to ® 48,000 racéived trom Treal Lid., a Singapore based company,
‘which was transterred to his bank account in Singapore
{) Interest on fixed deposit with Punjab National Bank (Oelni) amounting to & 10,900 was
credited to: his saving account INTP Q)
Answer 17
Deter
Mr. Raghu would
conditions:
of residential status
satisfies anyone of the following
20,
us year for a total period of 182:-days-ar more, of
mediately preceding the previous year for a total period
1 Teast 60 days in the previous year,
mentioned ubove, fie is a resident. If both the above conditions are not
‘one of
satisfied, he would b
non-resident
stayed in Ind days — 186 days (78 days +
¢., more than 365 days during the 4 preceding previous years. He
Hence, he 18 a resident in India tor
satisf
AY.2025-24,
A person would be “Not
a non-resident in 9 out o}
ny previous yeor, if such person, inter alia
ordinarily Resident” in India in
rs preceding the relevant previous year, oF
x been in India
110 previous ye
(a) has been
(b) has dorin
for 729 days or less.
the 7 previous years immediately preceding the relevant pr
Jaw would be “Resident but not ordin
7 previous years immediately preceding
For the previous year 2022-23. Mr. R
stayed for less than 729 days during the
CNet
(© Scanned with OKEN Scanner Chapter a;
Residencoiand seopeot Total tncone 3
___ Computation of tocal income of Mi. Raghu for A.¥.2023-24
Hess: Standard deduction w/t 16a seo 14,30,000|
of € 48,000 received from Singopore based company transferred to |
is bank account in Singapore is not taxable in the hands of the resident by
st ordiriarly resident since the income fu ncithce aecrued oF arisca in Ind
as it been recsives in Ind
| @
@)
Interest on fixed deposit with PNB credited to his-sa
ngs bank scout is| 40400]
taxable in the hands of Mr. Raghu as Income from other sources, since i has
cerued and acsen i fadia and is also received in Indi | |
Gross Total Inco 14,60,500 |
|Loss: Deduction ws8078 10.300
rota income [-_v4.s03000
Question 18
Miss Bhanushali, an American National, got married to Mr. Vikas of India in New York on
rd February, 2022 and came to india tor the first time on 14-02-2022. She left for New York
on 11-08-2022. She returned to India again on 20-02-2028.
She received the following gilts {rom her relatives and friends during 01-04-2022 to $1-03-
2023 in india:
+ From parents of husband
271,000
+ From married sister of husband 21,000
From two very close friends of her husband % 1,41,000 and t 1,21,000 © 262,000
(i) Determine her residential status and compute the total income chargeable to tax for the
Assessment Year 2023-24.
{ii) Wil the résidential status change if she had retumed te India again on 20-01-2023,
Instead of 20-02-2023? [uTP QO)
answer 18
(@) Determination of residential status and comput
1 of total income of Miss Bhanushali Gf
she returned to India on 20.2.2023)
| Particulars ae
= = |
JUnder section 6(1), an individual is said to be resident in Indian any previous year, |
jie he/she satisfies any one of the following conditions:
|(2) He’she has been in India during the previous year for a total period of 182 days |
‘or more, or .
[Gi) He/she has been in india during the 4 years immediately preceding the previous
| year for a total period of 365 days or more and has been in India for at least 60
I days in the previous year,
|If an individual satisfies any one of the conditions mentioned above, he’she is 2
|resident. If both the above conditions are not satisfied, the ind
jresiden
|
|
|
|
vidual is a non |
1
eas
(© Scanned with OKEN Scanner asad
| 9.¥:2023-24 bis to be detcmined on the beens |
Previous year relevant te AvY. 20min
assessment years
Tesidential stave af Mi
[Her stay in tndia du
ace as under
PLY. 2022-23
04,2022 to 11.08.2022
20.02.2023 to 31.03,
Total |
|
at days
P.Y.2026. ain |
|ev2oisan ‘ |
x nil |
a7 days
he previous year in India wa
Year was For 47 days,
Thereta
due to non-fulfillment-of any of the twa conditions for & resident, she]
ted as non-resident for the Assessment Year 2023-24
on of total income of M
Bhanushall for the ALY. 202:
ather sources
com nov-zelalives is chargeable to 1ax as per section 56(2) (x) i the
sregate valu of such gifts exceeds 50,000, |
yusband would be exempt, since parents of
husband fall within the definition of ‘relatives’ and gifts from a
chargeable 1 tax
£21,000 received from manied sisteri
falls within the definition of relative
+ 871,000 received from p
Law is exempt, si
nd gifis from a te
to tax. |
= Gift received fiom two friends of her husband © 1,41,000 and & 1,21,000)
aggregating 10 & 2,62,000 is taxable under section S6(2)(x) singe the aggregate of
% 2,62,000 exceeds 50,000, | |
Total Income | 262000)
Gi) Determinaiion of residential stawus of Miss Bhanushali (if she returned to India on
20.1202) ;
[Fartieatars z | Sse aaial|
newer would change, if she had cefumed to India again on 20.1.2023
Yes.
ay in India during the previous year 2022-23 would be: |
such case, her st z |
(0,04.2022 to 11.08.2022 - 133 days
20.01 2023 to 31.03.202
Total 204 days | |
[Tot
(© Scanned with OKEN Scanner De ths safes the eon
Previous year 2022-23, abe woud BEEOTES
ot endinarily resident in fia 4 hor ay
ee a
{mn the alternateve,
sor mare Oat days a ee
‘ra ae Noa eae
" ae a a |
wily resident if sh
ali is a noa-resicent i al
Y.2023-24 and never
reas fess than 7
svielual ean be
i years. fo
as in
ax wot oni
: slip aiee, Mis Bsus
receding wes :
Ms idin for only 47 days A.
assessment years. Sbe
India arter
Tne
(© Scanned with OKEN Scanner WP MokeotyDetvery
May / JUNE & NOV / DEC - ; 029 EXAMS.
| (AS AMENDED BY FINANCE ACY 2022)
ip) |2) sen may eg
Question & Answers
SM Sain:
A Compilation of more than 400+ Study MAT, Past Exams and RTP / MTP Questions
By CA BHANWAR BORANA
(© Scanned with OKEN Scanner Incomes Which do Not form Part |
| of Total Income (Exempt Income)|
| Question +
| Mr. B grows sugare
factory) SOs, sp aMoane ard uses the same tor the purpose of manufacturing sugar in is
sugarcane ay Of Sugateans produce is sold for € 19 lacs, and te
Rudra 1
',00,00,000) 2,00,00 100 |
| 4,60.00,000) 1,60,00,000!
20,00,000
I 000 KX)
Miss Vivitha, a resident anc ordina has derived the following income
from various operations (relating fo plantations ar by her) during the year
ended 31-3-2023: a
Particulars, z
Income trom sale of centrifuged latex processed from rubber pla
| grown in Darjecting,
(i) [Income trom sale of coffee grown and cured in Yercaud, Tamil Nadu
income from sale of colle grown, cured, roasted and grounded, in
| Colombo. Sale consideration was received at Chennai,
Lees
Income trom sale of tea grown and manufactured in Shimla
y at Cochin, Basic
| (a |income trom sapling and seedling grown in a nu
|” [operations were not caried out by her on land
You are required to compute the business income and agricultural income of Miss. Vivitha
forthe AY. 2023-24 {SM Qj
Answer 7
(Computation of business income and agricultural income of Ms. Viviths for
he ALY.2023-24
Source of income Gross (@)) Business income Agricultural |
income
| he z
Gi) |Sate of cenirifuged latex from) 3.00.00) 1.05.000
| | rubber plants grows ci, |
| Gi) | Sele of coffee grown anid cured in| 1.00.00] 254 25,000 75,00| 4
| India,
|
| (ii) | Sale of cortee grown, cured, roasted) 2.50000) 100 2.50,000 \ a
| J and grounded outside India, (S 1
| | Note I betow) |
| (iv) | Sale of tea grown and manufactured) 4,00,00
| event red) 4,00,000) 1.60,000) 2,40,000)
| |
|) [Saplings and seedings grown. in
fursery in India (See Note 2 below)
| | | 80,000, Nil 30,000
| [Tota
L i 5.400000) 390,000)
acinar
(© Scanned with OKEN Scanner Chapter'a: Incomes Which do
India, 40% of such income is ‘ot
question of such apportion athe wh se ines crane
ae - see resident, the income arising outside India is ‘also chargeab!
ee i a ‘ © pie ue provides that the income derived from saplings oF ear
Question 8
Mr n furnish Wo
hid ee furnishes the folowing particulars for the previous year 2022.75 5. respect ot
Lorn ne aetna in "Special Eoonerrc Zone” March 20¥7- TWeegan
manufacturing in April 2017.
soem, cured, coasted anki grovnded by the Seller ot
the balaiice os agricul
Sn tana, Hence, there is 130
TDusincas ingame. Receipt of
yece of am asgeesce, DEANE
fe to tax
rat kacore. |
[Particulars
|Total sates
| Export Sales [proceeds received in India)
Domestic sales
| Peott trom the above under king
29-08 include Weight and insurance OL T & jacs for detivery ol
ne amount of deduction available 10 hr, Ramesh under
jute G4)
Export Sales of F.Y. of 20:
goads outside India. Compute th
section 10AA for AY. 2023-24.
1OAA for AY. 2023-24
2018619, relevant 10
it shall be elt
gal
answer 8
Computation of deduction under seetion
1 bik assessment J
i menafaed
export of such a
d
the previ
efor deduction
year from AY
| the conditions
of articles art
Jes or things. assumit
Since AY. 2023-24 §
“18. in which the SEZ wnt
Sf $0% of the: progits derive
JOA are fulfill
specified int section
Fenee mower of Uritin SEZ x 50%
= Profit of Unitin™ wor of Unit in. Sez
=20,00,000 55 be 4=5,00,000
Working Note: : see
xport Turnover
Is in India ——
ia w be excluded from|
aie proceeds rete ee
Teas: Freight and insorance (OF Galivery of goods outside Ind
export tumover
a
(© Scanned with OKEN Scanner nas been |
women
3,09,000)
[since Fcight and
aire pe exeluded from.
30,00,609|
come ean be regarded 9s agricuttura,
joing
foran nes, 1801
mavie shooting.
nt to the agricultural Lands owned by
ont to the: ag mae
Explain with priat reasans, wosther tne I
(come, as per the provisions of the 190
(0) Rent received for letting ot agricultural land fora
(Income fram sate ef saedings in a nursery eciae
an assesseo
| Answer 9
(i) ent received fort
gout opicultural land for a movie shootin:
sal incexme” aneans, inter ality
and
usted i India ond
nerculural purest and henee, it docs not const
{ify Income from sale of seedlings in a nursery: ——_
2(A), incon saplings or seedlings gr
Explanation
sd to be ag
ig operations
smouint réceived from sale of seedlings in a nursery. adjacent t0 the agricultural
he rural i
Question 10
WS Rajveer, a proprietorship has two units namely, Unit X and Unit Y, Unit X located in
Special Economie Zone and Unit Y in Domestic Tarif Area (BTA). The following are the
details for the financial year 2022-23:
[Particutare | Unity | Wve Rajveer |
\
|Tolal sales - 85,00,000!
J Export sales 28,00,000| _&5,00,000|
[Domestic sales | 42,00,000| 30,00,0001
[Net Petit 4,00,000! +0,00,000
Total Sales of F.Y. 2022-23 include freight of & § lacs tor
respect to Unit X,
Both the units were sel up and started manutat
of deduction available to Mis Rajveer under se
delivery of goods outside India with
turing from 20.6.2019. Compute the amount
ction 104A for the AY. 2023.24.
IRTP Nov-21
aa
(© Scanned with OKEN Scanner ‘Chaptora: incemes Which do Not form Part of Total income:
©
‘omputation of ded
‘of cleduction under section 10AA for A.Y. 2028-24
Since AY. 2033-2
23-24 the dt
Fr aga 24 thea asesomant yas om AY, 2620-21, eleven fi evo ya! 2009
Betts etna ett Paka manuaccnng of artls or mings o oie any services, shall |
vide crate 9 1% of the roti drived fom export of seh aria ng om
‘conditions speci 1OAA are fulfilled,
=Profit of Unit in Sz. EDOM turnover
Total Turn
22,00,000
= 6,00, 000 x
i, | withing
Nes, export ct prafit of Unit X
nae aa Unie) ||
Hal oat nt \
85,00,000 | 9,00,090| 35,00,000| |
\]
55,0000] 28,00,000| 2790.900)
30,00,000 12,00.000| 1s,0.000|
_ 10,00;000| 4,00,000| 00,000
ene Ao] _s«
Export Turnover
|
Sale proceeds | 27,90,000)
| Leak Fight nox ieteele eigen tamer | s10.000|
\
| | 22,900,000
|Total turnover | 35,00,000\
{Less: Freight not includible [Since freight has been exeluded from export] 500,000
turnover, the same has ta be excluded from total tumover also]. \ \
\
| ___30,00,000 |
Question 11
Compensation on acco
histher legal heir is taxal
provisions of the Income-tax Act, 1961
unt of disaster received from a local authority by an individual or
bio. Examine the correctness of the statement with relerence to the
IsmQ]
Answer 11
The statement is not correct.
an individual er
As per section 10(10BC), any amount received or receivable as |
per legal heir on account of any disaster from the Central
Goverment or a focal authority. és exempt from tax, However, the exemption is
vevtent such individoal or legal heir has already been allowed a deduetion under
xc caused by such disaster (s
compensation by
Government, State
not available to the
this Act on account of such loss or dan
eum
(© Scanned with OKEN Scanner Income from Salary
Question |
Mr. Raj Kumar has the following receipts from his employer: |
(1) Basie pay © £0,000 pum
(2) Deamess atonance £5,000 pm.
(8) Commission 150,000 pa
(4) Motor car fr personal se (expensas met by the employer) 21,500 pam
£18,000 pm,
Find out the amount of HAA eigibié for exemption to Me. Raj Kumar assuming that he paid
frend af € 16,000 p.m. for fis accommedatian at Kanpur. OA forms part of salary tor
‘atirement benefits, [smay
Answer 1
HRA seeeived 8 1,80,000
Leste Evemipt under section 10134) [Note]
Taxable HRA
Note: Exemption shall be least of the fallossing three Kits
(a) the actual amount received! (¥ 15,000 » 12; = 1.30,000
{b) excess of the actual rent paid by the assessee aver 10% of his sal
Rent Pid (-) 10% of salary forthe relevant
(© 46,000%12)( of fe 40,000 1g
=t 1.92.00
40% 5
-€55.200
4,36,800
comma
76,00
ed ol Kanpur
§ oF [(@40.0
= 8 2,20,800
Note: Foi the purpose of exenip
sms of employment S0-p
wrallowances and p
jer section 10
pride and aso
inclustes deamess allowar
only
excludes all
Question 2
Mr. Srixan! has two sons. He Is in receipt of children education allowa
hig elder son and & 70 p.m. for
receives the folloming allowancos,
of 8 180 p.m, for
younger son, Both his sons are going to school. He also
Transport allowance :€ 1,800 p.m.
ec
“Toate
Compass
Answer 2
‘Toni
Chie
Elders
Young
Trans
Tribal
Tas
‘Question:
Me
req
a)
fi
«
Answer
(© Scanned with OKEN Scanner Tribal area aitowarice,
‘Comp,
Answer 2
‘Chapter 4: incovne trom Sa
7500 pm, a
his taxable atiowancas.
[smay
Vemerasilit 0 Nil boas
is POT allowance 421,800 p.m. are
coo, ‘bal ares allowance (8 500 —% 200) pm. + 12 nah 1 care
Taube sttownncey =
Pa ; sant
205 iestion 3
Mr. Sagar who retired on 1.10,2022 ¥s receiving & 5,000 p.m;
aqui 60% of his penaion and received € 3,00,000
Fequired to compute his taxable pension assum
) He is a government employe:
aS pension, On 1.22023, he
as commuted pension. You are
(0) He is private sector employee. and received graivity of SiG0,000 et ie tind’ of
elirement
(c} He is @ private sector employee. and did not rev
retiroment.
0p
2 any graiuily at the time of
[SMa
Answer 3
(a) He is a government employee
i] Uncommuicd pension received (October ~ March
t vonths) + {409% of 85,000
Cc Commuted pension
Less: Exempew
seta employes
nd ve
(October — Mi
224.0
4 months) + (40% wf 8 $,000 » 2
Leas: Exempl Ay
(21,22:00.000, 999) ihe .-
3 60%
Taxable pension
fe) He isa privat
ved (Octobe
Commuted pension rece
23.00.00
Wen
(© Scanned with OKEN Scanner Q Taxable pension
luestion 4 3
4.8 months of service and receiv
Me. Ravi ett on 15.6.202 ater corpletion of 26-705" 5 Es Ans |
Gratuity of 2 15.00.000. at the ime OF retirement, NS
Basle Salary 50.600 Po (gare of which #8 for retirement benefits)
£ 10.000 rm. (Sror inte aat 12 mons Was
¢ 1.20,00,000)
£25,000 pa.
ity assuming:
yor and covered by the Pay
symont of Gratuity Act, 1972. |
yment of Gratuity Act, 1872.
ism]
(a) Ho is private sector er
sector emplayoe and not covered by Pay
) eis piv
5 a Government employee:
Answer 4
(a) Me is eancred by the Pay
of Gratuity Act 1972
€ 15,00,000
F 15,00,000
000
29,34,615
Faxalile Gratuity r
85
(b} He ie aot covered by the Payment of G
Act 1972
«
co 2 15,00,000
Less: Exemption under section 10110) (Note) * £.58.000
Tasable Gratuity ‘
' 6.42,000
‘Note: Exemption wider section 1010) is least ofthe following =
(0) Gratuity eeevived -
(i) Statutory imit anne
% 20,00,000
(iii1H1a1¢ month's salary based on aver:
for each con
e salary of last 16 mont
tod sear of service, ths ptecoding the month of retirement
eS eee!
—
(© Scanned with OKEN Scanner Chapter 4: Income from Salary
4
Le. 2 x Avorage 5
px Average salary x yoars ol service
(Averape Salary: Avera
of last 10 mga,
basic salary of last 10 8
Average turnover com
ths Average 0
jon of last 10 months)
{<6.000 16 +4, o00x60%<174(r4e1-20.00:000x'2)]
4, 00:00") ag
5
(atte age
see
Gratuity F
ved al the
ess: Exem
io unider sect 110)
Fava gratuity
‘Question 5
Mr, Gupta retired on 1,12.2022 alter 20 years of ser
Mi, after 20 years of senice
5,00,000, Other details of his salary income are:
mess Allow
1 8,58,000
13,00,000
215.00,000
x
and received leave salary of
Basie Salary = £5,000 p.m, (8 1,000 was increased wrest. +.4:2022)
Dearness Allowance: 23,000 p.m, (60% of which is for rete ement benefits)
Commission 7500 pm,
Bonus 1,000 p.m.
Leave availed during service 480 days
He was entitled to 20 days leave every year
You are required to compute his taxable leave salary assuming
(a) He 15.2 government employee.
(b) He isa non government employee.
Answer 5
(a) He isa government employee
Leave Salary recived at the time of retire
Less: Exemption under section HO(10AA)
seeived ot the 0
fer saetion 10(LOA APT See Note betow]
Taxable Leave Sultry
Jer seuiion 10(10AA) is teast oF the follows
Note! Exemptio
(ip Statutory lini
{sma}
2.5,00,900
2 §,00,000
26.400
15,273,600
2 5,00,000
23,00,000
(© Scanned with OKEN Scanner ast 10 months
|
(coss0001)| 266.000,
0 months
| Cash equivaten of eave stand
the employee based on the aver
last }0 months + Average Dearess Atlowanss in terms
mission of last 10 months)
ry: Average basic salary of
(B0-days per year «20-years) = 480 days = 120 days
| Leave due (i292). pyorage salary.
26,400
Mr. A retire service on December 31, 2022, after 25 years of service. Following are
the particulars of his income/nvesiments for the previous year 2022-23: _
i ~__ Particulars
asic pay @ ® 16,000 per month for 9 manths | 144,000]
Deamese pay (60% lorms part of the retirement benefits) % 8,000 par month} 72,000)
months
Lumpsum payment received from the Unrecognized Provident Fund | 6 00,000|
Deposits in the PPF account 49,000)
Cut cf the amount recewved from the unrecognised provident fund, the employer's
contribution was % 2.20,000 and the interest thereon % 50,000. The employee's contribution
was € 2,50,000 and the interest thereon % 60,000. What is the taxable portion of the amount |
received from the unrecognized provident fund in the hands of Mr, A for the assessment |
year 2029-247 {sma} |
Answer 6
Taxable portion oft
‘computed hereunder:
smount received from the URPF in the!
ids Of Mr. A for the A.Y', 2023-24 is
Particulars |
Amount taxable under the head
Employer's share in the payment received fron
| 2,20,000| 1
50,000)
| 2:70.00)
Interest on the employer's share
| oa
ern
(© Scanned with OKEN Scanner articulars
i heat 01
ee come from Gther Sources”
thy | he employee's shane
Total amount taxable from th
Not: Since te emp
Question 7
¥ Me
B Is working in xvZ Lx
'@ details of his income for the P.¥, 2022-23,
cana ses ule his gross Salary fram the details given below: {[sMQ.)
D.A, (50% is for retirement tenetts) UEpDO
Commission asa percentage of urover on
‘Tumover during the year 2 50,00,000
Bonus £40,000
Gratuity 125,000
His oWn cotribution in the RPE 2 20,000
Employer's contribution to REF 200% of his basic salary
Interest accrued in the APF @ 13% p.a 213,000
Answer 7
as Computation of Gross Salary of Mr. B for the A.V
Particulars L2 z
10,000» 13)
120,000
umess Allowance [¥ 8,000 * 12] 96,000
| cess on turnover [0.1% * % 50,00,000) 5.000!
| 40,0
Employer
13.000|
9.300) 3.500)
service is Fully taxable.
he RPE is exempt up 10 12% of
inert benefits + Cony
ono
ess Allowa i
1206 gr [& 1 20,000 + (30% x % 96,000) + % 5,000] = 1
fe for deduct
ribution to RP
Nate 3: Employ
En
rem a
(© Scanned with OKEN Scanner after 20 years 4 month
dl & 7.00.08 jrement, Ne Was
persatee voluntary re
Mr. Duta
«
arto, Hest has 8 yeas of 52%
punting basic salary ¢ 20,000 pms OS
Compute his taxable voluntary *"
tal
Answer 9.” MY Telit uncer section 69,
-ec0tved voluntary ewrermant COMETS time ol
tary rater a tl ALINE Wich forms part ol pay) Te
(oes not
ngs aiowance
iment compensation ‘asouming that he
sotion eeceived
cy [See
Voluntary retirement
Note below}
Less: Exempri
Taxable voluntary retrcaiem eoenpensatie?
Note: Exem eatent of beast e
the following:
(i) Compens received
Gi) Statutory limit \
(Gi) $ months sary = completed years of eeveeS 213000 |
43% 30 years rae
(@ 20.900 + 7 5,000),
ry Fe
25,000) « 6 12 months
[Dearness ullowance in terms *
parhs of service
= 2 18,00,000
‘Tumover Commission
Question 9
us lg sppoinied aa’ CFO of ABC Lid. th Mumbai for 1.8-202% His basic salary fs 7
ae wood nim. He Is paid Bi» #5 D.A. He contributes 10% of His Pay and B.A. towards his
eOsanized provident fund and the company contriouies We oom amount. The
recognised’ balance in recognized provident fund as on 14.2021, 31.38.2022 and
313.2023 Is t 50,38,000, 71.46,700 and f 94.57.7009, respectively. Compute the
pormuisite value chargeable to taxin the hands of Mr. X wis 17(2)(vi and 17(2)(wiia) for the
{sma}
ALY, 2002-23 and A.Y. 2023-24,
Answer 9
Computation of perqu
L
vila) for ALY, 202:
(vii) ane
te valve taxable wis 1712]
2yvii) « € 7,77,600, being employer's contrib
0,000 = & 27,600
Perquisite value taxable u's 17
iia) = Annual accretion on p
wis 17(2Mvi)
=(PC2}X R+ (PCL + TPH) xR
(27,6002) x 0.0914 +0
PC ABC Ltd.'s contribution in excess of &
fe acraseesr es lakh (o recognized provident fund during
PCI Nil since employers contribution is less
PLY, 2020-21
5 lakh to recognized provident fund in
TPL Nil
R UFovg=5,
00160,90,880 = 0.0914 |
ed
(© Scanned with OKEN Scanner RPF balance
RPP balacee aon cuz) oj cane
'500.(8 71.46.7092 >
‘Chapter a:
overs
5.36,
03500088 7a
Since the employee's ;
Ls Apri, 2021 + Balance 16
85 on 3lutareh, 20232)! * Balance x6 the
408
Note —
72.50,000) wil abe
ceeds 22,50,000 4
chargeable
PLY.2020-22, inter
ite val
eal 1. Pergu
| provi fi
. during the Py
£7,50,000 = 3 27,699
2. Perquisite valuc a
(PC2)R + (PCL + Tp:
(27,6002) x 0.0910
sxable-w's 17/24 AN. 2028-24
revognized
IR
= 31,256 +8 2,626
=t3.a82
rc i =
| in excess of 8 7.5 Takh to recognized provident fi
PCT Amount of employer's contribution in excess of & 7,50,000 10 RPF in PY, 2021
TP] Taxable perquisite under seclion 17(2)(via) forthe P.¥. 2021-22
21261
Ro UFavg= 7,55,800'83,02,200- o.0910
1 RPF batanee as om 31.3.2023 ~ eniployee's and employer's contritution during the year
RPF balance as on 1.4.2022
800 (8 94,57,700 —€ 7,77,600 —€ 7,77,600 8 71,486,700)
Fave provident fund as_on Ix Aptil, 2022 + Batance to the
ason 31 March, (871 46,700-+ 2
eg will also be oh
ble o-rax during A.¥. 202.
50,000 eluring P-¥. 2021-22)
during P,¥- 2022-23]
Note = Inte
wo y exceeding €2
Gi) 75-48,600 [Employee's contribution exceeding €2,50
t 5.48600 being excess employee's contribution of P.Y. 202%
interest accrned on © 548,600 being exe
Question 10 «a holiday on 25.12.2022 to Delhi with his wife and three chikien (one son
eee eo eyeae twin daughters — age 3 years). They went by fli (economy sie) oe
— ag 3
he total cost of tie imbursed by his employer was % 60,000 (2 4 F addults
r Joyer was % 60,000 (% 45,000 for at
Kets reimbursed by his empl i
ea eas ae i three minor children), Compute the amount of LTG exempt
al 5
y ne
int A, will here be any difference if among his three children “emo]
ve point A,
® 1 ne one Pel and the son 3 years old? DISCUSS.
ales
(© Scanned with OKEN Scanner saiption for all is three
births after one chill. The
may eh88), the Caine
by air (e000
cy bei y
yrexcrer ;
DD eannot avail for ee!
iy two eile
Since the twins’ age i# moe 3 sof ont
shildren, LTC exemptbon sa" ”°
5,000x2 = 5,000
j ure. :
‘ ,a90 - ¥ $,000)
LTC exempt wad boon 55.000 66 § mt
Question +1 a tacinies received by MG)
‘Compute ine taxable value of the penqulsite Imrespect of medical’ [sm.Q}
mpute te xa {es
‘rom his employer during the e7a0e
t {Mir G ‘
— pid tr insurieg health 0
lecien! pramiu naa
Treatment of Mt, G by his family doctor
Treatment of WR G in a Government hospital 25,000
Trealment of Mr, G's grandfather in a private clinic $12,000
“Troatman of Mr. G's mother (68 years-and dependant) by familly doctor 78,000
reatment of Me. G's sister (dependant) in 2 nursing home 23,000
Treatment of Mr. G's brother (independent) 76,000
Treatment of Mr. G's father (75 years and dependent) abroad 7 50,000
Expenses of staying abroad af the patient and 230,000
Limit specified by RBI 2 75,000
Answer 1
Computation of taxable vatue of perquisite in the hands of Mr, G
I =
| = Particulars ae
Treatment of Mrs, G in a Government hospital |
Treatment of Mr, G's father (75 years and de | Z \
(73 yenrs and dey 0,000 |
xpenses of staying abvead ofthe patient it
patient and attendant | S0.000 |
| 0,000) \
‘ess; Exempt upto limit specified by RBI | oa
000)
Medical premitim p
Premium paid for insuring health of Mr. G =]
Treatment of Mr, G
his family doctor
eat oe |
Se mera
(© Scanned with OKEN Scanner INE bome
S Ermatathee in py
‘8 brother ¢
EF (indepen
Value of perquisite
[i
Question 12
pany has provided him with rete
He gives you the lolowing particulars
6,000 p.m,
Deamess Allowance
Eon * 2,000 p.m, (80%%:ig fot retirement benetis)
21,600 p.m,
| Even though the com,
from 1.11 spa5, COMP Sey alates the house to him on 1
fa) Cal
S a culate the taxable value of the perquisite for ALY. 2023-24,
mpUle the value of the perquisite if Mr, C is
quisite i is required 7 m
the company, for the use ofthis aecommadation. PAY B 18M OF F 1.000 pan.
(6) Compute the value of tne perquisite il ABC Li. has taken this accommodation on a
Ease Fent of 2 1,200 pm. and Mr. C is required to pay a rent of 2 1,000 pam, to ihe
Company, for the use of this accommodation
(2) Compute the value of the perquisite i ABC Ltd. has prévided @ television (WDV &
10,000; Cost % 25,000) and two air conditioners. The rent paid by the company for the
air conditioners is % 400 p.m. each. The television was provided on 1.1.2022, However.
Mr. G is required to pay a rent of 2 1,000 p.m. te the company, for the use of this
furnished accommodation.
(2) Compute the value of the perquisite if Mr. C is.a goverment employee. The licence foes |
determined by the Government for this accommodation was € 700 p.m. [sma]
Answer 12
ry for the relevant period
of [(2 6000 » 5) + & 2.000 30% * 5) + (% 1,800 * 5)] {See Note below]
5% of ® 40,500 =% 6.0
Note: Since, Mi. C occupies the honse only frow 111-2022. we have (@
Note: Since, Mé.
0 jed the even
bi ee 202) to 31.03.2023) will bewo tdered.
eae ies ion in the matter of rent. Tn the case of
population exceeding 25 takh, there
f rem if 15%. of salary exceeds rent
we have to sce wht
owned by the i i
cr to be a concession in the matter ol
(b) First of all,
aecommodatic
would be deemed ae
recoverable from the employee
ployer in cities having
CA Bhanwar Borana
(© Scanned with OKEN Scanner rhe rent pad BY the
ft roeowered frit the
empl 15% of salary wow
| cmbloyee js poo + 5%
‘lac, theres dean ce
pee £60975
ceommbation 25,000
fe unfienishe
ese Rent paid by the empleye® |
1.000% 5)
potion
= EATS
Perquisite value of anfernished #52" in th eof
at concessional rev" of rent. In the fave of
fiven at conees J 1g bea concession in the.
r, exceeds tent
es if salary, whniche lowe
ee 6,075 (ic. 15% OF 40,500). Rent
sécommodation, ake0 09 Ha
ation ent pai DY the
46) Here again, we
sma fret repens ose 18 Eee i, which exe
recom pcirg ao 120048) Te ie. deemed concession
J 5,600 (% 1,000 x 5). Therefore. the
employee i. re of Rule 3¢1) would be
the rent poid hy the ery provisions of Rule 3(1
sperm. of rom. Ones there i 8 JE ned concession.
i te cmpaning te taxable erase a
aor tike rate anne acca INGE i
ess et paid by the employee (€ Li
