Q. No.

Answer

1(a)

(i)

(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

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