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

Assignemnt corporation tax returnrequiredbull using the

Assignemnt: CORPORATION TAX RETURN Required: • Using the information provided below, complete Salt Source Inc.'s (SSI) 2010 Form 1120S. Also complete Kim Bentley's Schedule K-1. • Form 4562 for depreciation is not requir ...

Tax return-problem c corporationinstructionsplease complete

Tax return-problem: C corporation Instructions: Please complete the Express Catering, Inc.'s 2014 tax return based upon the information provided below. If required information is missing, use reasonable assumptions to fi ...

Calculating taxmicrotech software corporation msc was

Calculating Tax Microtech Software Corporation (MSC) was founded in 2001. The founder, Chan Li, studied at MIT and worked for a large software corporation before returning to his hometown, Centervale, to set up his own c ...

Baafm tax assignment real life case study - write briefly

BAAFM TAX ASSIGNMENT Real Life Case study - Write briefly about a RECENT COURT case that happened in Singapore or any other country where the issue was about income  and Capital. EXECUTIVE SUMMARY [ONE PAGE ONLY] INTRODU ...

Assignment constructive dividends redemptions and related

Assignment: Constructive Dividends, Redemptions, and Related Party Losses Suppose you are a CPA hired to represent a client that is currently under examination by the IRS. The client is the president and 95% shareholder ...

Assignment1racism and gender-bias in the workplace does it

Assignment 1. Racism and Gender-Bias in the Workplace: Does it still exist? 2. What improvements need to be made to the corporate tax structure in the United States? Discuss a Worldwide Tax versus a Territorial Tax Struc ...

The purpose of this tax research assignment is to help you

The purpose of this tax research assignment is to help you develop skills in researching tax issues. The final deliverable for this project will be a written memo which should be at least 2 pages double-spaced, 12 point ...

Preferred stock bailouts and personal holding company

"Preferred Stock Bailouts and Personal Holding Company" Please respond to the following: From your analysis of Section 306 in the e-Activity, differentiate between the tax treatment of earnings and profit on the distribu ...

Alice johnson social security number 222-23-3334 is a

Alice Johnson, Social Security number 222-23-3334, is a single taxpayer and is employed as a secretary by state University of FloridaShe has the following items pertaining to her income tax return for the current year: R ...

Discussion question 1a law practice was incorporated on

Discussion Question 1 A law practice was incorporated on January 1, 2016, and expects to earn $25,000 per month before deducting the lawyer's salary. The lawyer owns 100% of the stock. The corporation (a personal service ...

  • 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