Solutions - IPCC Tax paper May 2012......for detailed solutions, visit www.saraogi.co.in (downloads section)
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Q. No. |
|
Answer |
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1(a) |
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Total income = 9,83,820, Tax = 1,50,530 |
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1(b) |
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Tax payable = 88,065 |
|
1(c) |
|
Net VAT payable = 80,000 |
|
2(a) |
(i) |
Yes he is reuired to file ROI |
|
|
(ii) |
15,000 |
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2(b) |
|
Value of taxable services = 8,45,330, Tax = 87,069 |
|
3(a) |
|
24,531 |
|
3(b) |
|
False, False, False, False, False, True, False, False |
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3(c) |
|
False, False, False, True, False, False, False, True |
|
4(a) |
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Total income = 10,64,000 |
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4(b) |
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Service tax = 91,052 |
|
4(c) |
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Tax payable = 5,15,350 |
|
5(a) |
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Mr. A = 2,60,500, Mrs. A = 2,40,000, Minor child = 20,000 |
|
6(a) |
|
20 lacs |
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6(b) |
|
6,25,567 |
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6(c) |
|
10,488 |
|
7(a) |
|
2,65,300 |
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