Requried Tesh Paper CS Executive 2009 Ist Group

Dear Deepak i don't have the solutions in soft copy format but i can help you out in Tax laws CC paper.below are the answers to the practical questions of tax laws 2009 series only and as far as theory of income tax, service tax and VAT is concerned it is easily accessible from the module itself. go through it.

And for GCL and CACMA take the help of solved scanner which will help u a lot especially in GCL.

so, below are the solutions to practicals of tax laws cc paper

cc paper of tax laws 5/2010

computation of net wealth

1) House property - Not an asset being used for Business

2) Vehicles - ALL 3 Vehicles are taxable

3) cash in hand = 3,00,000 is taxable

4) jewellery =    15,60,000 is taxable

5) Value of urban land is taxable  but again exemption in respect of land can be claimed u/s 5(vi) provided upto 500 sq metres

Thanks to AMIR. he provides me this

computation of tax answer

1) Salary -                            3,36,000

 2) Capital Gains

     -Long Term                    1,50,000

      - STCG u/s 111A          15,000

3) Other sources

            Interest                           34,000

                                                 -------------------------

GTI                                            5,35,000

Deductions

 -LIC  = 8,000                                                                             (RESTRICTED TO 20% OF SUM ASSURED)

 - PPF = 22,000                         30,0000

                                              ------------------------------

TOTAL INCOME                       5,05,000

                                         -------------------------------------------

Tax - ON LTCG =                        30,000

          - on STCG=                         2,250

          - ON OTHERS =              14,000

                                            ------------------------------

                                                       46,250

ADD EDUCATION CESS            1,387

                                                  -------------------------

 TOTAL TAX                                47,637

THANKS to AMIR and Mr. saurabh shukla.

profits and gains from business and profession answer

Actually all above cases are decided case laws -

1) Travelling expens - Allowed in the form of depreciation, being incurred in relation to a capital asset

2) Interest on OD for dividend - Allowed, being paid on account of commercial expidency

3) Fees 4 IT Proceedings - Allowed, being for business or profession

4) Neon sign board - Allowed in the form of depreciation, being a capital asset. 

Thanks to Amir.