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Taxable Income

Excellent commerce point > Taxable Income
Clubbing of Income​
16
Jun

Clubbing of Income Question 1.Mr. Ramesh gifted a sum of ₹ 5 lakhs to his brother’s Minor Son on 16.04.2020. On 18.04.2020, his brother gifted Debentures worth ₹ 6 Lakhs to Mrs. Ramesh. Son of Mr. Ramesh Brother invested the amount in FD with Bank of India @ 9% p.a. Interest and Mrs. Ramesh received […]

Posted in: ca intermediate notes ,
Tags: CA Exam Prep , CA Foundation Taxation , Clubbing of Income , Clubbing Provisions , CMA Exam Syllabus , CMA Foundation Income Tax , Income Clubbing Examples , Income Tax Act , Income Tax Law , Taxable Income ,
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 ,