Ws20

NOVEMBER 2018 60515/BYA6C/CYA6C

Time : Three hours Maximum : 75 marks

SECTION A — (10  2 = 20 marks)

Answer any TEN questions.

1. Define Capital Asset.

‰»uÚ ö\õzx & Áøμ¯Ö.

2. Give examples of Casual Income.

uØö\¯À Á¸©õÚ® & Euõμn® öPõk.

3. What is meant by Tax Rebate?

Á› uÒУi Gߣx ¯õx?

4. What is agricultural income?

ÂÁ\õ¯ Á¸©õÚ® GßÓõÀ GßÚ?

5. Write a note on income of minor child.

CÍÁº Á¸©õÚ® £ØÔ SÔ¨¦ ÁøμP.

6. What is Total Income?

ö©õzu Á¸©õÚ® GßÓõÀ GßÚ?

7. How will you set off unabsorbed depreciation?

DºUP¨£hõu ÷u´©õÚzøu GÆÁõÖ \›PmkÁõ´?

8. Write a note on Section 80 DD. (Non-Resident).

¤›Ä 80 DD £ØÔ SÔ¨¦ ÁøμP.

9. Compute the Capital gains for the Assessment Year 2018-19.

Date of purchase of house May 1977
Cost of acquisition 1,80,000
Fair Market Value on 1.4.2001 2,00,000
Advance money received and forfeited during 2016-17 1,20,000
Sold the house in 2017-18 ton 1,40,00,000
(CII : 2001-02 is 100 ; and 2017-18 — 272)
 Ws 20

2018&19 B® Á› Âv¨£õsiØPõÚ ‰»uÚ Buõ¯® PnUQkP.

Ãk Áõ[Q¯x ÷© 1977

Áõ[Q¯ Âø» 1,80,000

1.4.2001 AßÖ {¯õ¯©õÚ \¢øu Âø» 2,00,000

2016&17 À •ß £n® ö£ØÖ £Ô •uÀ ö\´¯¨£mh öuõøP

1,20,000

2017&18 À Ãk ÂØÖ ö£ØÓ öuõøP 1,40,00,000

(A.S.G : 2001&02 & 100 ; 2017&18 & 272).

10. Compute income from other sources of the following : 5% Govt.

Securities 7,00,000; 7.5% Chennai Municipal Bonds
5,00,000; 9% Debentures of a Company 3,00,000 and 7%
Capital Investment Bonds 2,00,000.

¤ßÁ¸® ÂÁμ[Pμ¸¢x Cuμ ‰»[Pμ¸¢x ö£ØÓ Á¸©õÚ®

PnUQkP.

5% Aμ_ ¤øn¯[PÒ 7,00,000 ; 7.5% ö\ßøÚ ©õ|õPμõm] Phß

£zvμ[PÒ 5,00,000 ; 9% {Ö© PhÜmk £zvμ[PÒ 3,00,000 ; 7%
•u½mk Phß £zvμ[PÒ 2,00,000.

11. Compute the income from other sources for the assessment year
2018-19.
Particulars
Winnings from horse races 10,000
Winnings from lotteries 50,000
Amount spent on Lottery tickets 5,000
Dividend received 16,000
¤ßÁ¸® ÂÁμ[Pμ¸¢x 2018&19® Á› Âv¨£õsiØPõÚ Cuμ
‰»[Pμ¸¢x ö£ØÓ Á¸©õÚ® PnUQkP.
£μ[PÒ
Svøμ¨ £¢u¯zvÀ öÁßÓx 10,000
£›_a ^miÀ öÁßÓx 50,000
£›_ ^mk Áõ[P ö\»ÁÈzux 5,000
£[Põuõ¯® ö£ØÓx 16,000
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 Ws 20

12. Mr. X borrowed 4,00,000 from a financial institution for his

Medical education. He paid 40,000 as interest on loan during
the previous year. Find out the amount of deduction u/s 80E.

v¸. GUì GߣÁº uÚx ©¸zxÁ £i¨¤ØPõP {v {ÖÁÚzv¼¸¢x

4,00,000 Phß ö£ØÓõº. •¢øu¯ BsiÀ Phß «uõÚ Ámi¯õP
40,000 ö\¾zvÚõº. ¤›Ä 80E °ß £i PÈUP¨£k® öuõøPø¯
PnUQkP.

SECTION B — (5  5 = 25 marks)

Answer any FIVE questions.

13. Explain the procedure for computation of Short term capital

gains.

SÖQ¯ Põ» ‰»uÚ Buõ¯zøu PnUQk® •øÓø¯ ÂÁ›.

14. Give ten examples of non-agricultural income.

ÂÁ\õ¯ Á¸©õÚ® AÀ»õu £zx Á¸©õÚ[PÐUS Euõμn® öPõk.

15. State the provisions relating to carry forward of losses.

|mh[PøÍ Gkzxa ö\À¾uÀ SÔzu ÂvPøÍ GÊxP.

16. From the following details calculate capital gain.

(a) Sale consideration of residential house 40,00,000 on
26.10.2017 (CII-272)
(b) Cost of acquisition of the house on 1.8.2012 was 8,27,500
(CII-200)
(c) New residential house acquired on 2.2.2017 for 17,24,500
¤ßÁ¸® ÂÁμ[PøÍU öPõsk, ‰»uÚ Buõ¯® PnUQkP.
(A) 26.10.2017 AßÖ Si°¸¨¦ Ãk ÂØÓx ¹.40,00,000
(A.S.G. : : 272)
(B) 1.8.2012À A¢u Ãk Áõ[Q¯ Âø» ¹.8,27,500
(A.S.G. : : 200)
(C) 2.2.2017&À 17,24,500US ¦v¯ Si°¸¨¦ Ãk Áõ[P¨£mhx.

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 Ws 20

17. Compute the income from other sources for the assessment year
2018-19
Particulars Rs.
Director’s fees 5,000
Dividend from Indian Companies 4,000
Income from horse race 7,000
Royalty from books 9,000
Dividend from Co-operative Societies 3,000
¤ßÁ¸® ÂÁμ[Pμ¸¢x 2018&19® Á›Âv¨£õsiØPõÚ Cuμ
‰»[Pμ¸¢x ö£ØÓ Á¸©õÚ® PnUQkP.
ÂÁμ®
C¯US|º Pmhn[PÒ 5,000
C¢v¯ {Ö© £[Põuõ¯® 4,000
Svøμ¨ £¢u¯ Á¸©õÚ® 7,000
¦zuP[PÒ «uõÚ E›ø©z öuõøP 9,000
TmkÓÄ \[P[PÎß £[Põuõ¯® 3,000

18. Mr. Vishnu transferred his self acquired property yielding an

annual income of 80,000 to his undivided family, consisting of
Vishnu, Mrs. Vishnu, his major son Sekar and minor son Kamal.
How is the income treated during the Previous Year 2017-18?
Assume that property is partitioned equally among the family
members, what will be the position?
v¸.Âèq, v¸©v. Âèq, AÁμx ©Pß ÷\Pº ©ØÖ® AÁμx
CÍÁº ©Pß P©À BQ÷¯õº Ah[Q¯ C¢uU TmkU Sk®£zvØS
BsöhõßÖUS 80,000 Á¸©õÚ® Dmk® uÚx ö\õ¢u ö\õzvøÚ
©õØÔÚõº. 2017&18 B® BsiÀ C¢u Á¸©õÚ® GÆÁõÖ
PnUQh¨£k®? Sk®£ EÖ¨¤ÚºPÐUQøh÷¯ ö\õzx \©©õP
¤›UP¨£mhx GÚU öPõsk, Á› Âv¨¦ {ø»ø¯ ÂÍUSP.

19. From the following particulars, find out the gross total income
for the assessment year 2018-19.
Particulars Rs.
Business profit 20,000
B/f Business Loss of 2015-16 10,000
Capital Loss on shares 60,000
Loss from self occupied property 5,000
¤ßÁ¸® ÂÁμ[Pμ¸¢x 2018&19® Á›Âv¨£õsiØPõÚ ö©õzu
Á¸©õÚ® PnUQkP.
ÂÁμ[PÒ ¹.
¯õ£õμ C»õ£® 20,000
2015&16 Bsi¼¸¢x Gkzx Á쨣mh ¯õ£õμ |mh® 10,000
£[SPÒ «uõÚ ‰»uÚ |mh® 60,000
ö\õ¢u Si°¸¨¤¼¸¢x |mh® 5,000

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 Ws 20

SECTION C — (3  10 = 30 marks)

Answer any THREE questions.

20. State the provisions relating to clubbing of income of other

persons.
¤Ó |£ºPÎß Á¸©õÚzøu JßÖ ÷\ºzuÀ \õº¢u ÂvPøÍ ÂÁ›.

21. Compute the capital gain for the Assessment Year 2018-19.
Cost of acquisition of residential house (2008-09) – 3,50,000
Sale consideration on 5.10.2017 – 70,00,000
Stamp Duty value - 80,00,000
Cost of new house purchased in December 2017 – 6,00,000
CII for 2008-09 is 137 and for 2017-18 is 272.
2018&19 B® Á›Âv¨£õsiÀ ‰»uÚ Buõ¯zøu PnUQkP.
Si°¸¨¦ Ãmiß AhUP® (2008&09) & 3,50,000
5.10.2017 À ÂØ£øÚ Âø» & 70,00,000
•zvøμ wºøÁ ©v¨¦ & 80,00,000

i\®£º 2017À Áõ[Q¯ ¦v¯ Ãmiß AhUP® & 6,00,000

AhUP Âø» SÔ±k : 2008&09 = 137 ; 2017&18 = 272.

22. Compute the income from other sources of Mrs. X from the
following details :
Director’s fee from a company 10,000; Interest on bank
deposits 3,000; Income from undisclosed sources 12,000;
Winnings from lotteries (Net) 24,500; Royalty on book written
by her 8000; Remuneration for lecturers given 5,000;
Interest on loan given to a relative 7,000; Interest on tax free
debentures of a company (listed in recognized stock exchange
(net) 3,600; Interest on Government Securities 2,200;
Dividend on shares 6,400; Interest on Post Office Savings
Bank Account 5,000; She paid 100 for collection of dividend
and l,000 for typing the manuscript of book written by him.
¤ßÁ¸® ÂÁμ[PøÍU öPõsk v¸©v. GUì GߣÁ›ß Cuμ
‰»[Pμ¸¢x ö£ØÓ Á¸©õÚzøuU PnUQkP.
{Ö©zv¼¸¢x ö£ØÓ C¯US|º Pmhn® 10,000 ; Á[Q
øÁ¨¤¼¸¢x ö£ØÓ Ámi 3,000 ; öÁΨ£kzuõu
‰»[Pμ¸¢x ö£ØÓ Á¸©õÚ® 12,000 ; £›_ ^mk ‰»® ö£ØÓ

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 Ws 20

£›_PÒ ({Pμ®) 24,500 ; AÁº GÊv¯ ¦zuPzv¼¸¢x Qøhzu

SzuøP öuõøP 8,000 ; ›Äøμ¯õØÔ¯uß ‰»® ö£ØÓ Fv¯®
5,000 ; EÓÂÚ¸US AÎzu Phß «x ö£ØÓ Ámi 7,000 ;
(A[RP›UP¨£mh £[S \¢øu°À £mi¯¼h¨£mh) Á›°À»õ
{Ö©U Phß £zvμ[PÒ «uõÚ Ámi ({Pμ®) 3,600 ; Aμ_¨
¤øn¯[PÎß «uõÚ Ámi 2,200 ; {Ö©¨ £[Põuõ¯® ¹.6,400 ;
Ag\»P ÷\ª¨¦ PnUQ¼¸¢x ö£ØÓ Ámi ¹.5,000 ; BÁº
£[Põuõ¯® Á`¼UPº Pmhn©õP 100 ; ¦zuP øPö¯Êzx¨
¤μvø¯ umha_ ö\´¯ Pmhn©õP 1,000 •® ö\¾zvÚõº.

23. Compute tax liability of Mr. X for the details shown below :
Particulars Rs.
Income from salary 1,00,000
Income from Let out
property (not computed) 15,000
Short term capital gains 5000
Long term capital gains 10,000
Income from other sources 60,000
Total deductions except 80G 20,000
Donation to a local authority
for family planning 27,000

¤ßÁ¸® ÂÁμ[PøÍU öPõsk v¸. GUì GߣÁ›ß Á›

ö£õÖ¨ø£U PnUQkP.

ÂÁμ®
\®£Í Á¸©õÚ® 1,00,000
ÁõhøP Ãmk ö\õzx Á¸©õÚ®
(PnUQh¨£hÂÀø») 15,000
SÖQ¯ Põ» ‰»uÚ Buõ¯® 5000
}sh ‰»uÚ Buõ¯® 10,000
Cuμ ‰»[PÎß Á¸©õÚ® 60,000
ö©õzu PÈÄPÒ (80G uÂμ) 20,000
Sk®£U Pmk¨£õmiØPõP EÒÍõm]US
ÁÇ[Q¯ |ßöPõøh 27,000

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 Ws 20

24. Find out tax liability of Mrs. X in the following cases for the
Previous year.
(a) She is a resident women and date of birth is June 5, 1960
(b) She is a resident women and date of birth is June 5, 1932
Mrs. X has income of 9,00,000; (including Long term capital
gain 50,000; pension before deduction 3,60,000 and interest
on Government securities 4,90,000) She pays 15,000 as
insurance premium annually.

¤ßÁ¸® {ø»PÎÀ v¸©v. GUì GߣÁ›ß •¢øu¯ BsiØPõÚ

Á› ö£õÖ¨¦ GÆÁÍÄ GÚ PnUQkP
(A) AÁμx ¤Ó¢u ÷uv áüß 5, 1960 ©ØÖ® Si°¸¨£Áº
(B) AÁμx ¤Ó¢u ÷uv¯ áüß 5, 1932 ©ØÖ® Si°¸¨£Áº.
v¸©v. GUì AÁºPÎß Á¸©õÚ® 9,00,000 (CvÀ }sh Põ»
‰»uÚ Buõ¯® 50,000 •® ; PÈÂØS •ßÚº K´Åv¯®
3,60,000•® ; Aμ_ ¤øn¯[Pμ¸¢x ö£ØÓ Ámi
4,90,000•® Ah[Q²ÒÍx) AÁº Bsk÷uõÖ® 15,000
Põ¨¥mk •øÚ©©õP ö\¾zxQÓõº.

———————

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