Are step marks fr incomplete or partially correct answers in ipcc exams?
swamitra gope
(CA CS FINAL)
(315 Points)
Replied 03 November 2011
Naveen.N
(student)
(1021 Points)
Replied 09 November 2011
Yes you will be geeting the marks propotionately
Pankaj Saraogi
(Faculty - Tax Laws)
(611 Points)
Replied 09 November 2011
IPCC NOVEMBER 2011 TAXATION PAPER
ANSWERS TO NUMERICAL QUESTIONS
Income-tax portion
|
Q. No. |
|
Answer |
|
1(a) |
(i) |
4,90,000 |
|
|
(ii) |
3,84,000 |
|
1(b) |
|
Madan – TI – 3,80,500, Tax – 19,620; Hema – TI – 1,75,000, Tax – Nil |
|
2(a) |
|
10,17,000 |
|
3(a) |
|
LTCG AY 2011-12 – 33,75,986.50, Tax consequences AY 2012-13 – STCG 40,00,000 |
|
4(a) |
(i) |
Not allowed |
|
|
(ii) |
Depreciation @ 25% on 20,00,000 for full year |
|
|
(iii) |
Allowed 8,00,000 x 200% |
|
|
(iv) |
Allowed bad debts of5,00,000 |
|
|
(v) |
Not allowed |
|
|
(vi) |
Not allowed |
|
|
(vii) |
Not allowed as PGBP expense, but shall be allowed as deduction u/s 80GGB |
|
|
(viii) |
Taxable |
|
5(a) |
|
Total Income – 2,90,000 |
|
6(a) |
(i) |
RNOR |
|
|
(ii) |
2,50,000 |
|
7(a) |
(i) |
Hotel, Hospital, Cold chain, warehousing, pipeline |
|
|
(ii) |
(a) 4,200 (b) No TDS |
|
|
(iii) |
(a) Disagree (b) Disagree |
VAT & ST portion
|
Q. No. |
|
Answer |
|
1(c) |
|
15,14,053 |
|
1(d) |
|
1,50,000 |
|
3(b) |
|
1,44,742 |
|
4(c) |
(i) |
True |
|
|
(ii) |
False |
|
|
(iii) |
False |
|
|
(iv) |
False |
|
5(c) |
|
5,38,000 |
|
7(b) |
|
56,21,034 |
|
7(c) |
|
GPV – 12,000, CV – 2,000 |
Detailed solutions to numerical questions will be posted asap on www.saraogi.co.in
adarsh
(CA Aspirants)
(88 Points)
Replied 10 November 2011
Self assessment on deemed basis in one of the most important feature of VAT. page no.6.7 of Taxation institute module.
Pankaj Saraogi
(Faculty - Tax Laws)
(611 Points)
Replied 10 November 2011
accepted..........thanx & regards,
Nitesh Tejwani
(no)
(66 Points)
Replied 11 November 2011
I have not calculated the value of taxable serivce.
but i have correctly calculated the amount that is inclusive of service tax those questions are of 4 marks
i have not applied the formula for calculating the value of taxable service.
hw much i will get?
CAclubindia
