Can someone explain the answer for qn 9 and qn 10.?
Qn 9 says answer is 17470
Qn 10 says answer is Transfer pricing provisions are not applicable.
How?
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direct tax mcq from rtp may 19.!!
Replies (12)
q.10 TP regulations not applicable to specified domestic transaction covered by S.40A (2) w.e.f AY 2018 19.
q.09 I am getting only A. 25790.
q.09 I am getting only A. 25790.
in question you have to also provide 40000 INR as standard deduction as every salaried person get benefit of standard deduction from his salary income.
so provide standard deduction also and you will get 17470 tax liability.
so provide standard deduction also and you will get 17470 tax liability.
Thanks
you are welcome
Thank you guys. Got it
can some one explain the answer for qn 4 obj type ques
1.Tax on dividend income = [(40+11.9+0.10)-10]x10%
=4.20 lakhs
2.Tax on business income=[5-2.50]x5%
=12500
3. Total tax = [420000+12500]+4%
=449800
=4.20 lakhs
2.Tax on business income=[5-2.50]x5%
=12500
3. Total tax = [420000+12500]+4%
=449800
Q.4 from RTP. 42lacs dividend after 10lacs of exemption plus 5 lacs business income to 47 lacs. 42 lacs taxable @ 10% and 5 laca @ normal slab. Tax comes to 12500 for 2.5lacs (5lacs - BEL 2.5lacs) and 4.2 lacs for dividend. Total tax of 4.325lacs plus cess 4% comes to answer a. 4.498lacs. Surcharge not applicable coz net income is less than 50lacs.
Thk u guys
please explain me mcq(ix) again?what about basic exemption of 5lac as age 67 year.
300000 exemption for 67 year old assessee
thanks rohan... that was a silly mistake temporarly
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