Answer to ca-ipcc taxation exam may 2012

 

 

Q. No. 1(a)

 

Business Income 920200/-

House Property  57820/-

Other Sources  15800/-

Total Income 983820/-

Tax Payable 153620/-

 

Q. No. 1(b)

 

Value of Taxable Services 855000/-

 

Service Tax 88065/-

Q. No. 1(c)

 

a) 20 Lac

 

b) 45000/-

 

c) 80000/-

Q. No. 2 (a)(i)

 

YES

 

Q. No. 2 (a)(ii)

 

15000/-

Q. No. 2 (b)

 

a) 850000/-

    (assuming 50000/- excluding ST)

 

b) 87550/-

 

Q. No. 3 (a)

24531/-

Q. No. 3 (b)

a) False

 

b) False

 

c) False

 

d) False

 

e) False

 

f) True

 

g) False

 

h) False

 

Q. No. 3 (c)

a) False

 

b) False

 

c) False

 

d) True

 

e) False

 

f) False

 

g) False

 

h) True

 

Q. No. 4(a)

 

1064000/-

 

Q. No. 4(b)

 

91052/- (92700/-)

Q. No. 4(c)

 

515350/-

Q. No. 5(a)

 

Mr. A 260500/-

Mrs. A 240000/-

Minor Son 20000/-

Q. No. 6(a)

20 Lac

Q. No. 6(b)

625567/-

 

Q. No. 6(c)

11544/-

(Assuming Dealer is Registered in Kerala)

Q. No. 7(a)

265300/-

HRA Exempt 53700/-

 

 

 

 

 

Replies (2)

ans to q4 (b) is not correct, Taxable services are 900000 and not 884000. You can't take abatement on the rooms let out (i think the reason for difference of 16000 would be that only).

this is ditto qus from the May 2012 RTP

monty is right . mandap keepers question is same from RTP . i gone through just before i left home . its 90,00,000 . 

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