So how was ur TAX paper Guys???
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IPCC tax paper Review
Replies (20)
It is easy
| Originally posted by : santhoshni | ||
 |
It is easy |
 |
pcc or ipcc
PCC TAX - STANDARD AND LENGTHY
IPCC Tax
Yaa pcc is too lenghty yaar
I heard from my friends....SERVICE TAX JUST LIKE ....BREAD AND BUTTER....BUT DIRECT TAX WAS STANDARD ANG LENTHY!!!!!!!
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
| Originally posted by : Pankaj Saraogi | ||
|
IPCC NOVEMBER 2011 TAXATION PAPER ANSWERS TO NUMERICAL QUESTIONS Income-tax portion Q. No. Answer 1(a) (i) 6,40,000 (ii) 4,74,000 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 of Rs. 5,00,000
Pankaj Saraogi Sir pls post ans to pcc also pls.................
Tricky and lengthy...
Plz upload the question paper...... 
The paper is easy and can be answered in 2and half hours. 
I made few mistakes in some question. Will i be getting some marks in those qusetions or just zero. 
in tax u get marks for item wise treatment..dont worry
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