CS objectives

CS 490 views 3 replies

1.In determining annual value the following factors should be taken into consideration, except

a.actual rent received

b.fair rent of the property

c.deposit recived from tenants

d.standrard rent.

 

2.which of the following is not an asset under section 2(ea)of the wealth tax act,1957 

a.motor car

b.boats & aircraft

c.guest house

d.cash at bank

 

Short notes on:

1.Income of Political parties under section 13 A.

 

2.What are the essentials conditions for claiming exemptions under section 11 in the case of a charitable trust?

Replies (3)

Answer1- (c) deposits received from tenant

Answer-2-(d) Cash at bank

Answer of short notes-

Answer- The following income derived by a political party are not included in computing its total income-

(i) Income which is chargeable under the head "income from house property" or

(ii) Income chargeable under the head " income from other sources"

(iii) Any income by way of voluntary contribution from any person.

Answer-Conditions for claiming exemptions u/s 11

(a) Trust must have been created for any lawful purpose.

(b) Such trust/institution must be for charitable or religious purpose.

(c) The trust must get itself registered with the commissioner of IT within the prescribed time.

(d) The property from which income is derived should be held under trust by such charitable or religious   trust/institution.

 

Just check with others opinion.

 

 

Thank you so much jyoti.......

My pleasure.........


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