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Tax Computation

Excellent commerce point > Tax Computation
Income from Other Sources ​
16
Jun

Income from Other Sources Question 1.From the following particulars of Pankaj for the previous year ended 31st March, 2021 compute the Income under the head “Income from other Sources”  [Nov. 2009, 6 Marks] Particulars Amount (₹) Directors Fee from a Company 10000 Interest on bank Deposits 3000 Income from undisclosed source 12000 Winnings from Lotteries […]

Posted in: ca intermediate notes ,
Tags: CA Exam Prep , CA Foundation Taxation , CMA Exam Syllabus , CMA Foundation Income Tax , Deductions , Exemptions , Income from Other Sources , Income Tax Act , Income Tax Chapter , Other Sources Income , Tax Computation , Taxable Income ,
Profits and Gains from Business or Profession ​
14
Jun

Profits and Gains from Business or Profession Question 1.State with reason, whether the following statements are true, or false with regard to the provisions of the Income-tax Act, 1961 for the Assessment year 2021-22: [Nov. 2008, 2 Marks](a) Rural branches of the Cooperative banks are not allowed to claim provision for bad and doubtful debts.(b) […]

Posted in: ca intermediate notes ,
Tags: Business Income , Business or Profession , ca foundation , cma foundation , Deductions under PGBP , Direct Tax , Income Tax Act , Indian Tax Law. , PGBP , Professional Income , Profits and Gains , Tax Computation , Taxable Income , Taxation ,
Income from House Property
13
Jun

Income from House Property Introduction   Question 1.Explain the concept of Municipal Value, Fair Rent and Standard Rent. Quality properties for rent Answer:Municipal ValueIt refers to the value that the Municipal Authorities deems as the value of the property for the purpose of assessment of property taxes. Fair RentIt is the rent fetched by a […]

Posted in: ca intermediate notes ,
Tags: Annual Value , CA Foundation Taxation , cma foundation , Deductions under Section 24 , Direct Tax , House Property Income , Income from House Property , Income Tax , Income Tax Act , Let-Out Property , Property Tax Rules , Rental Income Taxation , Self-Occupied Property , Tax Computation , Tax on Property Income ,