Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Taxation Expert

problem 1) Describe the incidence of tax with suitable ex?

problem 2) From the following particulars, find out gross salary of Mr Azad for the assessment year 2012-13. He is employed in textile industry in Dehradoon at a monthly salary of Rs.4000. He is entitled to commission of 1% on sales achieved by him, which were Rs.20 lakh for the year. Also, he received the following allowances from the employer during the previous year:

i. Dearness Allowance Rs.2000 per month.

ii. Bonus Rs.32000

iii. House Rent Allowance Rs.1000 per month (Rent paid for house in Dehradoon Rs.1200 per month).

iv. Entertainment Allowance Rs .1000 per month

v. Children Education Allowance Rs.500 per month

vi. Transport Allowance Rs.1000 per month

vii. Medical Allowance Rs.500 per month

viii. Servant Allowance Rs.200 per month

ix. City Compensatory Allowance Rs.300 per month

x. Research Allowance Rs.500 per month (amount spent on research Rs.3000).

problem 3) Describe the deductions available to assessee u/s 24 under the head income from house property.

problem 4) Describe the term Capital Asset. Also describe the exceptions if any.

problem 5) prepare a brief note on the following:

a. “Income of Previous year taxable in the Assessment year” Comment.

b. Provisions regarding filing of return.

c. Deduction u/s 80C and 80G

d. Agricultural income

e. Exempted Incomes u/s 10

Taxation, Accounting

  • Category:- Taxation
  • Reference No.:- M94843

Have any Question? 


Related Questions in Taxation

Tax questionproblemgrouse company is a furniture retailer

Tax Question Problem Grouse Company is a furniture retailer whose average annual gross receipts for the three preceding years exceeded $10,000,000. In the current tax year, the company purchased merchandise with an invoi ...

Words limit 3200-3500 words countquestion 1 10

Words Limit: 3200-3500 Words count Question 1 (10 Marks)   Your client is an investor and antique collector. You have ascertained that she is not carrying on a business. Your client provides the following information of ...

Requireduse the following information to complete paul and

Required: use the following information to complete Paul and Judy Vance's 2015 federal income tax return. Facts: 1. Paul J. and Judy L. Vance are married and file a joint return. Paul is selfemployed as a dentist, and Ju ...

Assignmentbullhoffman w h raabe w a smith j e maloney d m

Assignment • Hoffman, W. H., Raabe, W. A., Smith, J. E., Maloney, D. M., & Young, J. C. (2016). South-western federal taxation 2016: Corporations, partnerships, estates and trusts ( 39th ed.). Mason, OH: South-Western Ce ...

Discussionpart 1 please respond the following question no

Discussion PART 1 PLEASE RESPOND THE FOLLOWING QUESTION NO LESS THEN 350 WORDS (ORIGINAL WORK, NO PLAGIARISM, 1 Reference "Gift Transfers and Gift Tax Planning" Please respond to the following: • Per the text and IRC, a ...

Federal taxescongress has asked you to evaluate the

Federal Taxes Congress has asked you to evaluate the individual tax brackets in the federal tax code and make several recommendations to improve the fairness of the tax brackets. Using the Internet and Strayer Library, r ...

Issue questions1 cable corporation which operates a fleet

ISSUE QUESTIONS 1. Cable Corporation, which operates a fleet of motorized trolley cars in a resort city, is undergoing a complete liquidation. John, who owns 80% of the Cable stock, plans to continue the business in anot ...

Assignment corporation tax accounting projectfollow the

Assignment Corporation Tax Accounting Project Follow the instructions, and make sure you download other required sheet from internet. The only submission required for grading is a complete 2015 U.S. Individual Income Tax ...

Assignmenti carol is a single mother who owns a wholesale

Assignment I. Carol is a single mother who owns a wholesale auto parts distributorship. The business is organized as a sole proprietorship. Her business has advanced, and she can no longer devote the time necessary to do ...

Tax researchtax research and practice please respond to the

Tax Research "Tax Research and Practice" Please respond to the following: • Imagine that you are assigned the responsibility of finding several tax research authorities that your firm would need to focus on as it defends ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro