Search Your Paper

Thursday, May 25, 2023

B. Com. - Bachelor of Commerce 6th Semester
Direct Tax Law


Time Allowed: Three Hours] [Maximum Marks: 80

Note:-Unit-I: Attempt four questions out of six questions, each carries 5 marks.

Unit-II: Attempt two questions out of four questions, each carries 15 marks.

Unit-III: Attempt two questions out of four questions, each carries 15 marks.


1. Write a note on Deemed Income with example.

2. The particulars of Assessment Years 2020-21 and 2021-22 are as under:

Compute the total income for each Assessment Year.

3. Briefly explain the procedure for claim of rebate u/S 86.

4. The following particulars have been submitted by Mr. Y in the capacity of Karta of a Hindu Undivided Family for assessment purpose:

(a) Profit from family's business Rs. 2,50,000, after charging an amount of Rs. 60,000 given as salary of Karta's brother who has been actively participating in it.

(b) Salary income of Karta's another brother who is a Manager in a Co-operative Bank Rs. 11,000 p.m.

(c) Director's Fee received by Karta Rs. 5,000 (HUF holds 20% shares in this company).

(d) Bank interest on fixed deposits Rs. 24,000.

(e) Long-Term Capital Gain from transfer of building Rs. 28,000.

(f) Long-Term Capital Gain from the transfer of investment Rs. 40,000.

(g) Donation to a College which is an approved institutio Rs. 40,000.

(h) Rental Value of the property let Rs. 36,000, Municipal

Tax paid in respect of the house Rs. 4,500. Interest on loan taken for repair of house is Rs. 12,000.

You are required to calculate total income and tax liability of the family for the Assessment Year 2021-22.

5. Define an AOP. Also explain with help of a numerical rates prescribed for assessment of AOP.

6. Profit and Loss Account of ABC and Co. (Chartered Accountant firm) for the year ending 31-3-2021 is as follows:

Other Information:

(1) Out of expenses of Rs. 10,000, Rs. 6,400 is not deductible by virtue of Section 36 and 37.

(2) Depreciation as per Section 32 is Rs. 27,500.

Find out the amount of total income of the firm for the Assessment Year 2021-22. The remuneration and interest on Capital to Partners have been paid according to Partnership Deed, which was submitted along with return.


7. What are the provisions of law regarding the clubbing of income of spouse and other family members in the income of individuals?

8. Mr. B furnishes following information regarding his profit or loss from various business activities and other incomes and losses for the year ending on 31st March, 2021:

(1) The Net Profit as shown in the P & L A/c of textile business Rs. 4,15,600. Following additional information available from P & L A/c are:

(i) Depreciation debited Rs. 1,02,000 whereas depreciation calculated as per Income Tax rules comes to Rs. 81,000.

(ii) Interest from Bank deposits credited in P & L A/c Rs. 28,000.

(iii) Income from sale of scrap credited Rs. 37,600. (iv) Rent received from workers who were given some part of business premises on rent Rs. 12,000.


(v) A gift of Rs. 10,000 was given to Mr. A's wife on Diwali and is debited to P & L A/c.

(vi) Income Tax paid debited to P & L A/c is Rs. 14,800.

(2) Profit from Cycle business Rs. 2,24,000.

(3) Profit from speculation business Rs. 1,60,000.

(4) Loss from gambling Rs. 42,000.

(5) Speculation business loss b/f from Assessment Year 2015-16 Rs. 2,10,000.

(6) He retired from Central Govt. job in 2012 and he received pension of Rs. 4,80,000 during the previous year. 

(7) During the year, he spent Rs. 80,000 on the medical treatment of his dependent ailing mother suffering from a specified disease. She is 75 years old.

(8) He is paying Rs. 60,000 per annum on the medical insurance of himself, spouse and dependent father.

(9) His savings during the year are as under:

(i) Deposits in PPF Rs.1,20,000.

(ii) Life Insurance premium paid on the life of his dependent son, spouse and himself Rs. 48,000.

(10) During the year he spent Rs. 72,000 on travelling sightseeing places in India.

Calculate his total income.

9. What are those circumstances in which Assessing Officer can take the action to determine income from transaction with non-residential to avoid tax?

10. From the following particulars, calculate the taxable income, tax and deduction available under Section 80 for Assessment

Year 2021-22:                                  (Rs.)

Salary per month 15,000

Dearness Allowance per month 10,000

House Rent Allowance per month 3,000

(Rent paid Rs. 4,000 pm)

House property is let out on a monthly rent of Rs. 2,000. The annual value of the house property is Rs. 30,000. Municipal Tax paid is Rs. 1,800 for whole year. Interest Payable on Capital borrowed for the construction of the house is Rs. 6,000. Repayment of house buildings loan taken from friends is Rs. 5,000 and from Life Insurance Corporation is Rs. 3,000.


11. What do you understand by Best Judgement Assessment? Under what conditions is it made by the Assessing Officer? On what grounds can a Best Judgement Assessment be cancelled?

12. Rakesh and Ram are members of an AOP sharing profits and losses in the ratio of 2:1. AOP has income of Rs. 2,63,000 under the head profits and gains. It also has agricultural income of Rs. 90,000. The individual income of its members are as follows:

During the year Rakesh paid ULIP of Rs. 7,500 and Ram paid Rs. 3,600 by cheque under Mediclaim and deposited Rs. 7,500 in PPF. Calculate the tax liability of AOP and its members for the Assessment Year 2021-22.

13. What are the different penalties which can be imposed under the provision of Income Tax Act, 1961?

14. Anita, Beena, and Chitra are Partners in a firm assessed u/S 185 sharing profits and losses equally. 

Their capitals were:              Rs.

Anita                     20,000

Beena                     30,000

Chitra                     10,000

The Profit and Loss Account of the firm for the previous year ended 31st March, 2021 showed a net profit of Rs. 10,000 after charging the following items:

(1) Salary to Anita Rs. 300 per month and to Chitra Rs. 500 per month.

(2) Interest on Capital at 6% per annum.

(3) Rent to Anita Rs. 150 per month in whole building business was carried on.

(4) Interest on loan taken from Beena Rs. 500.

Compute the total income of the firm.


Post a Comment

North India Campus



North India Campus. Powered by Blogger.

Welcome to North India Campus

Search Question Paper


1st & 2nd Semester BE 1st Semester B.Com 1st Semester BBA 1st Semester BCA (D) 1st Semester Bsc. IT (D) 1st Semester Bsc. IT 1 1ST Semester M.SC IT(D) 1st Semester M.Tech 1ST Semester MBA 1st Semester MCA 1st Semester MCA (D) 2nd Sem B.Com 2nd Sem BB 2nd Sem BBA 2nd Sem BCA 2nd Sem BCA (D) 2nd Sem BSC IT(D) 2nd Sem BSC(IT) 2nd Semester MBA A Foundation Course in Human Values and Professional Ethics Accounting and Financial Management Accounting and Financial Managementm ACCOUNTING FOR MANAGEMENT Adolescence and Family Education B.Ed (2012) Adolescence And Family Education B.Ed (Dec 2013) Adolescence And Family Education B.Ed (Dec 2014) ADVANCE SOFTWARE ENGINEERING Advanced Accounting 2 ADVANCED COMMUNICATION SYSTEMS ADVANCED MATHEMATICS FOR ENGINEERS Aligarh Muslim University Applied Physics 1 B.Ed (Dec 2008) B.Ed (Dec 2009) B.Ed (Dec 2011) B.Ed (Dec 2012) B.Ed (Dec 2013) B.Ed (Dec 2014) B.Ed (June 2008) B.Ed (June 2009) B.Ed (June 2015) BA 1 Syllabus Bachelor in Science Fashion and Technology Basic Accounting Basic Chemistry Basic Electrical Engineering Basic Electronics Basic Mathematics BSC 1 Basoc Accounting BBA 1 BBA 2 BCA Question Papers BCA Syllabus 1 Bridge Course in Mathematics Bsc.IT Business Communication-1 Business Communication-2 Business Communication-I 2 Business Environment 2 Business Laws 1 Business Mathematics Business Organisation and Management Business Statistics 2 C C Programming C Programming Bsc IT 1 C Programming Lecture Videos CADM 1st Semester Communication 2 Communication and Soft Skills Communication Skills Communication Skills 1 Communicative English Computer and Education B.Ed (Dec 2011) Computer and Education B.Ed (Dec 2012) Computer Applications Computer Fundamental Computer Graphics Video Lecture Computer in Education B.Ed (Dec 2008) Computer in Education B.Ed (Dec 2009) Computer In Education B.Ed (Dec 2013) Computer in Education B.Ed (Dec 2014) Computer Mathematical Foundation MCA D Computer Networks 1st Semester Computer Operating System Computer Organization and Assembly Language Computer System Architecture 2 Corporate Accounting Curriculum and Instruction B.Ed (Dec 2009) Curriculum and Instruction B.Ed (Dec 2011) Curriculum and Instruction B.Ed (Dec 2012) Curriculum and Instruction B.Ed (Dec 2013) Curriculum and Instruction B.Ed (Dec 2014) Curriculuman and Instruction B.Ed (Dec 2008) DATA COMMUNICATION NETWORK Data Structure 2 Data Structures 2 data structures 2 BCA D Data Structures Through C 2 Database Management with Microsoft Access Bsc IT 1 Delhi University News Desktop Publishing Tools 2 Digital Circuits and Logic Design 2 Digital Circuits and Logic Design 2 BCA D Digital Electronics 2 Digital Electronics Fundamentals 2 Distance Education B.Ed (Dec 2008) Distance Education B.Ed (Dec 2009) Distance Education B.Ed (Dec 2011) Distance Education B.Ed (Dec 2012) Distance Education B.Ed (Dec 2013) Distance Education B.Ed (Dec 2014) Dot Net Interview Questions & Answers. Education and Evaluation B.Ed (Dec 2009) Education and Society B.Ed (Dec 2008) Education and Society B.Ed (Dec 2009) Education and Society B.Ed (Dec 2011) Education and Society B.Ed (Dec 2012) Education and Society B.Ed (Dec 2013) Education and Society B.Ed (Dec 2014) Education Technology B.Ed (Dec 2009) Educational Evaluation B.Ed (Dec 2008) Educational Evaluation B.Ed (Dec 2011) Educational Evaluation B.Ed (Dec 2012) Educational Evaluation B.Ed (Dec 2013) Educational Evaluation B.Ed (Dec 2014) Educational Technology B.Ed (Dec 2008) Educational Technology B.Ed (Dec 2011) Educational Technology B.Ed (Dec 2012) Educational Technology B.Ed (Dec 2013) ELECTRONICS SYSTEM DESIGN Engineering Drawing and Graphics Engineering Mathematics Engineering Question Paper set 1 Engineering Syllabus English and Communication Skills English and Communication Skills 2 Environmental Science 2 Finaicial Accounting Financial Accounting Financial Management 2 Sem Fundamentals of Information Technology Bsc 1 Guidance and Counseling B.Ed (Dec 2008) Guidance and counseling B.Ed (Dec 2009) Guidance and Counseling B.Ed (Dec 2011) Guidance and Counseling B.Ed (Dec 2012) Guidance and Counseling B.Ed (Dec 2013) HIV and Aids Education B.Ed (Dec 2011) HIV and Aids Education B.Ed (Dec 2012) HIV and Aids Education B.Ed (Dec 2013) Hotel Management and Air Lines Syllabus HP University News Human Resource Management Human Resource Management 2 Information Management Information Technology for Management Intoduction to microprocessor 2 BCA D Introduction of Computers BBA1 Introduction to Computers 2 Introduction to I.T MCA D Introduction to Information Technology Introduction to Information Technology(BCA) Kurukshetra University News Lecture 20 Clipping -- Lines And Polygons Macro Economics 2 Management Syllabus Managerial Economics Marketing Management 2 Master Of Technology M-Tech Syllabus MBA Papers MCA Notes MCA Question Papers Mercantile Law 2 Metal Cutting Question Paper Metal Forming Question Paper Micro Economics Network Security NEURAL NETWORKS & FUZZY LOGIC Object Oriented Programming in C++ Object Oriented Programming in Cpp OOP CPP 2 Operating system (BCA) Operating System Bsc IT 1 Organisational Behaviour Organization Behaviour 2 Other Universities Others Panjab University News PCM 2 BCA D PGDCA Pharmacy Syllabus Principles and Practices of Management principles of management 2 Production and Operations Management 2 Programming in C Programming in C MCA D Programming Logic Development with C Psychology of Learning and Development B.Ed (Dec 2013) Psychology of Learning and Development B.Ed (Dec 2008) Psychology of Learning and Development B.Ed (Dec 2009) Psychology of Learning and Development B.Ed (Dec 2011) Psychology of Learning and Development B.Ed (Dec 2012) PTU Affiliated Colleges of Integerated College PTU Affiliated Colleges of Management College PTU Affiliated Colleges of Architecture PTU Affiliated Colleges of Engineering PTU Affiliated Colleges of Pharmacy College PTU Forms Download PTU News and Events Quantitative Techniques RDBMS 2 RDBMS-I 2 Relational Database Management System Research Methodology 2 SAD 2 BCA D Syllabus of Computer Applications Syllabus of Journalism and Mass Communication Syllabus of Medical Laboratory Science System Analysis and Design System Analysis and Design 2 System Analysis and Design MCA D Teacher and School B.Ed (Dec 2008) Teacher and School B.Ed (Dec 2009) Teacher and School B.Ed (Dec 2011) Teacher and School B.Ed (Dec 2012) Teacher and School B.Ed (Dec 2013) Teacher of English B.Ed (Dec 2009) Teaching of English B.Ed (Dec 2008) Teaching of English B.Ed (Dec 2011) Teaching of English B.Ed (Dec 2012) Teaching of English B.Ed (Dec 2013) Teaching of Mathematics B.Ed (Dec 2009) Teaching of Mathematics B.Ed (Dec 2011) Teaching of Mathematics B.Ed (Dec 2012) Teaching of Mathematics B.Ed (Dec 2013) Teaching of Science B.Ed (Dec 2008) Teaching of Science B.Ed (Dec 2009) Teaching of Science B.Ed (Dec 2011) Teaching of Science B.Ed (Dec 2012) Teaching of Science B.Ed (Dec 2013) Teaching of Social Studies B.Ed (Dec 2008) Teaching of Social Studies B.Ed (Dec 2011) Teaching of Social Studies B.Ed (Dec 2012) Teaching of Social Studiess B.Ed (Dec 2013) Teaching of Social Study B.Ed (Dec 2009) Technical Communication UGC NET Computer Science Question Paper Uttarakhand Open University Video Lecture Web Technologies 1st Semester Web Technologies 2 Welding Technology Question Paper Workshop on IT and E-Commerce 2