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

Federal income tax forms for a married coupleappendix

Federal income tax forms for a married couple Appendix A Please use this information for your Tax Return and Paper. *All people, businesses, and information are fictional. Any relation to an actual person or business is ...

Taxation theory practice amp law assignment-case study 1

Taxation, Theory, Practice & Law Assignment- Case study 1: Capital Gains Tax Fred is a resident who signed a contract to sell his holiday home in the Blue Mountains in August last year. The sale was settled in February t ...

Question - alan is an employee at abc pty ltd abc he has

Question - Alan is an employee at ABC Pty Ltd (ABC). He has negotiated the following remuneration package with ABC: salary of $300,000; Payment of Alan's mobile phone bill ($220 per month, including GST). Alan is under a ...

Question 1two years ago peta purchased a house in kew this

Question 1 Two years ago Peta purchased a house in Kew. This house had two old tennis courts down the back which were in poor condition. She purchased the property for two reasons: - so that she and her family could live ...

Question during the year inez recorded the following

Question: During the year, Inez recorded the following transactions involving capital assets. Gain on the sale of unimproved land (held as an investment for 3 years) Loss on the sale of a camper (purchased 2 years ago an ...

Question 1two years ago peta purchased a house in kew this

Question 1: Two years ago Peta purchased a house in Kew. This house had two old tennis courts down the back which were in poor condition. She purchased the property for two reasons: - so that she and her family could liv ...

Case study 1 residence and sourcefred an executive of a

Case study 1: Residence and source Fred, an executive of a British corporation specializing in management consultancy, comes to Australia to set up a branch of his company. Although the length of his stay is not certain, ...

Taxation theory practice amp law assignment-case study 1

Taxation, Theory, Practice & Law Assignment- Case study 1: Residence and source Fred, an executive of a British corporation specializing in management consultancy, comes to Australia to set up a branch of his company. Al ...

Tax returnuse the following information for jkeb

Tax Return Use the following information for JKEB Corporation to complete pages 1 through 3 of the 2011 Form 1120. The final return is due in week five. Address: 1994 Lincoln St, Township, FL 34691 Employer Identificatio ...

Taxation theory practice amp law assignmentit is the

Taxation, Theory, Practice & Law Assignment It is the responsibility of the student submitting the work to ensure that the work is in fact his/her own work. Ensure that when incorporating the works of others into your su ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate