Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Taxation Expert

problem 1) Answer all the problems:

1) What do you mean by assesses and person.

2) Describe the provision relates to expenditure on Scientific Research.

3) What is casual income? Describe provision related to it.

4) Describe the provision related to set off and carry forward of capital losses.

5) What do you understand by Hindu Undivided Family?

problem 2) How would you find out the residence of Hindu Undivided Family and Firm? Describe with ex.

problem 3) What do you understand by “Gross Total Income”? Describe the provision regarding deduction in respect of expenditure on treatment of handicapped dependent and donation to certain funds.

problem 4) Mr. X was born on 11.2.1938. Determine the tax liability for the assessment year 2012-13 with the help of following information:

i.  Salary received                                                                    1, 05,000
ii.  Received from royalty of books                                             7, 66, 350
iii. Monthly rent of a house                                                              5, 000
iv. Municipal tax paid                                                                           500
v.  Taxable long term capital gain                                                     20, 000
vi. Interest received on bank deposit                                                 35, 880
vii. Deposit in PPF                                                                              8, 000   
viii. Income from lottery                                                                      5, 000
ix.  LIC Premium paid                                                                         20, 000
x.   Income from businessof purchase and sale of equity shares             70, 000

(on which Rs. 20, 000 is paid as security transaction tax)

Taxation, Accounting

  • Category:- Taxation
  • Reference No.:- M94368

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 ...

Research paper of gift taxestate tax systemwrite a research

Research Paper of Gift Tax/Estate Tax System Write a research paper explain tax popic of Gift Tax /Estate Tax System the follow must be addressed: 1.what is the tax benefit or tax implication of this topic? 2.Who does it ...

Assignmentncc corporation is considering building a new

Assignment NCC Corporation is considering building a new facility in Texas. To raise money for the capital projects, the corporation plans the following capital structure: 30% of money will come from issuing bonds, and 7 ...

From circular 230 compare and contrast the ability to

From Circular 230 compare and contrast the ability to practice before IRS between a CPA and an AFSP tax preparer during 2015

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 ...

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 ...

Assignmentaccess the latest annual report or form 10-k of a

Assignment Access the latest annual report, or Form 10-K, of a publicly-traded company of your choice using the company's website or www.sec.gov. You can usually access from a company's website by clicking on investor re ...

Assignment tax-planning client letter on irrevocable trusts

Assignment: Tax-Planning Client Letter on Irrevocable Trusts, Gift Tax, and Estate Tax Suppose you are a CPA, and your client has requested advice regarding establishing an irrevocable trust for his two grandchildren. He ...

Accountancy assignment 1tax returnjoon age 51 is an

Accountancy Assignment 1 Tax Return Joon, age 51, is an unmarried, cash basis, calendar year taxpayer. Joonhas one 9-year-old qualifying child who lives with him full-time and is claimed on Form 1040. Joon has the follow ...

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

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

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen