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

Taxplease fully answer the following1 what does it mean

Tax Please fully answer the following: 1. What does it mean when we say that there is a unified gift and estate tax in the US? 2. What is the difference between the estate and gift tax and the income taxation of estates ...

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 ...

Tax assignmenta1what code section discusses partnership

TAX Assignment A.) 1. What Code Section discusses partnership formation under the Internal Revenue Code? 2. How does this Section differ from a corporate formation under Section 351? 3. What does it mean when we say that ...

Tax seminaryou are the instructor of a one-day tax seminar

Tax Seminar You are the instructor of a one-day tax seminar to inform international students studying business in the United States about the current tax system. You are preparing a background report to help you prepare ...

Corporate tax return projectusing the following information

Corporate Tax Return Project Using the following information, prepare a corporate tax return for 2015. You can download the tax forms from the IRS website (www.irs.gov). In addition to the basic Form 1120 (all 5 pages), ...

Taxone paragraph of writing is required at a minimum for

Tax One paragraph of writing is required at a minimum for each question. Two paragraphs is the maximum 1. How is a single-member LLC taxed for federal income tax purposes? 2. What is a three-factor formula and how does i ...

Discussion forumnote the video has closed captioning to

DISCUSSION Forum Note: The video has Closed Captioning. To activate it, start the video, mouse over the bottom of the video and click on the CC icon, then select from the menu. We are going to examine substitute goods, h ...

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 ...

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 ...

Assignemntspencer duck is single and his eight year old son

Assignemnt Spencer Duck is single and his eight year old son, Mitch, lives with him nine months of the year in his mother, spencer's ex-wife, during the summer months. his mother provides more than half of Mitch's suppor ...

  • 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