Roll No. ...................................

CD-2043
BD–2043 (SE)
B. Com. (Part III) EXAMINATION, 2020
2018
(Compulsory)
Paper First
INCOME TAX
Time : Three Hours
Maximum Marks : 75
Minimum Pass Marks : 25

uksV % lHkh ik¡p iz’uksa d¢ mŸkj nhft,A izR;sd bdkbZ ls ,d iz’u

djuk vfuok;Z gSA lHkh iz’uksa d¢ vad leku gSaA
Attempt all the five questions. One question from each
Unit is compulsory. All questions carry equal marks.
bdkbZ&1
(UNIT—1)

1- vk;dj ds fy, djnkrkvksa dk fuokl&LFkku fdl izdkj

fu/kkZfjr fd;k tkrk gS \ fuokl&LFkku dk dj nkf;Ro ij Hkkj
le>kb,A 15
How is residence of assessees determined for Income Tax
purposes ? Explain the incidence of Residence on tax
liability.

A-6 P. T. O.
 [2] BD–2043

vFkok
(Or)
¼v½ vk;dj vf/kfu;e dh /kkjk 10 ds vUrxZr ik¡p djeqDr
vk;sa fyf[k,A 5
Give any five examples of Income exempted under
Section 10 of Income Tax Act.
¼c½ fuEufyf[kr fooj.k ds vk/kkj ij fe- jkgqy ds
dj&fu/kkZj.k o”kZ 2017&18 ds fy, dj nkf;Ro dh x.kuk
dhft, % 10
`
(i) d`f”k vk; 86]000
(ii) jcj ds fuekZ.k ls vk; 6]44]000
Compute the tax liability of Mr. Rahul on the basis
of the following particulars for the assessment year
2017&18 :
`
(i) Agricultural income 86,000
(ii) Income from Manufacturing Rubber 6,44,000
bdkbZ&2
(UNIT—2)
2- fuEukafdr ds laca/k esa vk;dj vf/kfu;e ds izko/kkuksa dks
mnkgj.k lfgr le>kdj fyf[k, %
¼v½ fdjk;s ls eqDr edku dk ewY;kadu
¼c½ oS/kkfud] izekf.kr ,oa vizekf.kr Hkfo”; fuf/k
¼l½ edku fdjk;k HkŸkk
Explain the Income Tax Act provisions regarding the
following items :
(a) Valuation of Rent free house

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 [3] BD–2043

(b) Statutory, Recognised and Unrecognised Provident

Fund
(c) House Rent Allowances
vFkok
(Or)
fe- jes’k dk jk;iqj esa ,d edku gSA xro”kZ 2016&17 esa edku
dk 3@4 Hkkx Lo;a jgus ds dke vkrk gS rFkk 1@4 Hkkx
1&4&2016 ls 31 fnlEcj] 2016 rd jgus ds fy, ` 4]200
ekfld fdjk;s ij ns fn;k x;k gSA 1 tuojh] 2017 ls ;g Hkkx
Hkh Lo;a jgus ds dke vk;kA edku dk uxjikfydk ewY;kadu
` 1]20]000 rFkk mfpr fdjk;k ` 1]44]000 gSA bl edku ij
mlus fuEufyf[kr O;; fd, %
`
uxjikfydk dj 36]000
ejEEkr ij O;; 12]000
chek izhfe;e 7]000
edku ds fuekZ.k ds fy, mlus 1&4&2013 dks 10% okf”kZd dh
nj ls ` 6]00]000 dk _.k fy;k ftldk fuekZ.k 31&3&2014
dks iwjk gqvkA vHkh rd _.k dk dksbZ Hkh Hkqxrku ugha fd;k
x;k gSA
dj&fu/kkZj.k o”kZ 2017&18 ds fy, fe- jes’k dh edku&lEifŸk ls
vk; dh x.kuk dhft,A
Mr. Ramesh owns a house at Raipur. During the previous
year 2016-17, 3/4 portion of the house is self-occupied for
full year and 1/4th portion is let out for residential purposes
from 1st April, 2016 to 31st Dec., 2016 on a rent of ` 4,200
per month. From 1st January, 2017 this portion was used
for own residence. Municipal valuation of the house is
` 1,20,000 and fair rent ` 1,44,000. He incurs the following
expenditure in respect of the house property :

A-6 P. T. O.
 [4] BD–2043

`
Municipal Taxes 36,000
Repairs 12,000
Insurance premium 7,000
A loan of ` 6,00,000 was taken on 1st April, 2013 @ 10%
p. a. for the construction of the house which was completed
on 31st March, 2014. Nothing was repaid on Loan Account
so far.
Find out his income from house property Mr. Ramesh for
the assessment year 2017-18.
bdkbZ&3
(UNIT—3)
3- 31 ekpZ] 2017 dks lekIr gksus okys o”kZ ds fy, ,d cSafdax
dEiuh us fuEufyf[kr ykHk&gkfu [kkrk rS;kj fd;k %
`
fu{ksiksa ij pqdk;k x;k C;kt 2,00,000
osru rFkk HkŸks 1,50,000
fdjk;k o dj 20,000
Mkd O;; 10,000
LVs’kujh rFkk eqnz.k 8,000

kl 40,000
lkekU; O;; 20,000
izLrkfor ykHkka’k 80,000
vk;dj ds fy, vk;kstu 1,50,000
Mwcr _.k ds fy, vk;kstu 40,000
ykHk fPkës esa LFkkukUrfjr 62,000
7,80,000

A-6
 [5] BD–2043

vf/kfod”kZ ij C;kt 60,000

udn lk[k ij C;kt 1,00,000
_.kksa ij C;kt 3,00,000
izfrHkwfr;ksa ij C;kt 1,20,000
deh’ku 40,000
Hkou dk fdjk;k ¼tks cSad ds ikl jgu gS½ 60,000
vfHkxksiu deh’ku 30,000
vfHkxksfir va’kksa ds foØ; ij ykHk 70,000
7,80,000
cSafdax dEiuh dh lEcfU/kr dj&fu/kkZj.k o”kZ ds fy, O;kikj ls
vk; dh x.kuk dhft,A
A Banking Company has prepared the following P & L
A/c for the year ended on 31st March, 2017 :
`
Interest paid on Deposits 2,00,000
Salaries and Allowance 1,50,000
Rent and Taxes 20,000
Postal Charges 10,000
Stationery and Printing 8,000
Depreciation 40,000
General Expenses 20,000
Proposed Dividends 80,000
Provisions for Income Tax 1,50,000
Bad Debts Provisions 40,000
Profit to Balance Sheet 62,000
7,80,000

A-6 P. T. O.
 [6] BD–2043

`
Interest on Overdraft 60,000
Interest on Cash Credit 1,00,000
Interest on Loans 3,00,000
Interest on Securities 1,20,000
Commission 40,000
Rent of Buildings (Mortgaged with the
Bank) 60,000
Underwriting Commission 30,000
Profit on Sales of Shares Underwritten 70,000
7,80,000

Compute the Business Income of the Banking Company

for the relevant assessment year.
vFkok
(Or)
1 vizSy] 2016 dks fe- ,Dl ds fofu;ksx fuEu izdkj Fks %
¼v½ 10% e/; izns’k ljdkj _.k ` 4]00]000A
¼c½ 10% lq/kkj U;kl _.ki= dks 1 uoEcj] 2014 dks
leewY; ij Ø; fd, x, ` 2]50]000A
¼l½ twV fey dEiuh ds _.ki= ` 1]50]000A
¼n½ lgdkjh lfefr ds _.ki=ksa ij C;kt ` 20]000A
1 vDVwcj] 2016 dh mlus lq/kkj U;kl _.ki= ` 2]32]500 ds
csp fn;s vkSj 12% iksVZ VªLV ckW.M ` 4]00]000 ds Ø; dj
fy, ftlds fy, mlus 15% izfro”kZ dh nj ls ` 2]00]000 dk

A-6
 [7] BD–2043

_.k izkIr fd;kA izfrHkwfr;ksa ds Ø; ,oa foØ; ds fy, cSad us

vafdr ewY; ij 1 12 % deh’ku rFkk C;kt laxzfgr djus ds
fy, ` 400 deh’ku olwy fd;kA xro”kZ vius firk dh e`R;q
ij tks 18 fnlEcj] 2016 dks gqbZ] mlus ` 1]00]000 ds 12%
fnYYkh ljdkj _.k mŸkjkf/kdkj esa izkIr fd,A
izfrHkwfr;ksa ij C;kt izfro”kZ 31 fnlEcj rFkk 30 twu dks ns;
gksrk gSA dj&fu/kkZj.k o”kZ 2017&18 ds fy, ßiw¡th ykHkÞ rFkk
ßvU; lk/kuksa ls vk;Þ ‘kh”kZdksa dh vk; Kkr dhft,A
The investments of Mr. X on 1st April, 2016 were as
given below :
(a) ` 4,00,000; 10% M. P. Govt. Loan.
(b) ` 2,50,000; 10% Improvement Trust Debentures at
par on 1st Nov., 2014.
(c) ` 1,50,000; 10% Debentures of a Jute Mill Company.
(d) ` 20,000; Interest on Debentures of Co-operative
Society.
On 1st October, 2016 he sold his Improvement Trust
Debentures for ` 2,32,500 and purchased ` 4,00,000, 12%
Port Trust Bonds for which he took a loan of ` 2,00,000
@ 15% per annum. The bank commission for buying and
selling securities was 1 % on Face Value and for
collecting interest ` 400. During the year he inherited
` 1,00,000, 12% Delhi Govt. loan from his father who
died on 18th December, 2016.
Such interest being payable in each case on 31st
December and 30th June. Find out his income under the
head “capital gains” and “income from other sources” for
the assessment year 2017-18.

A-6 P. T. O.
 [8] BD–2043

bdkbZ&4
(UNIT—4)

4- ¼v½ iw¡th gkfu dh iwfrZ ds laca/k esa D;k izko/kku gSa \

¼c½ foŸkh; o”kZ 2016&17 esa fe- jghe dh ldy dqy vk;
` 7]40]000 FkhA mlus 2013&14 esa cSad ls ` 6]00]000
dk _.k MBA ds v/;;u ds fy, fy;kA xr o”kZ
2016&17 esa mlus _.k dh izFke fd’r ` 70]000 vnk
dj nh o ml ij ` 80]000 dk C;kt fn;kA dj&fu/kkZj.k
o”kZ 2017&18 esa mldh dqy vk; ,oa dj nkf;Ro dh
x.kuk dhft,A
¼l½ xr o”kZ 2016&17 dks fe- xks;y tks xEHkhj fu%’kDrrk ls
ihfM+r gS] dh ldy dqy vk; ` 7]25]000 gSA og vius
fdjk;s ds edku esa jgrk gS rFkk ` 6]000 izfr ekg ns jgk
gSA mldh dqy vk; dh x.kuk dhft,A
(a) What are the provisions regarding setoff of capital
gain ?
(b) Gross total income of Mr. Rahim for the previous
year 2016-17 was ` 7,40,000. He had taken a loan of
` 6,00,000 in 2013-14 from a bank for pursuing
MBA course. During the previous year 2016-17 he
repaid the 1st instalment of loan of ` 70,000 and
interest ` 80,000. Compute his Total Income and
Tax liability for the assessment year 2017-18.
(c) Gross total income of Mr. Goyal who is suffering
from a severe disability, for the previous year 2016-
17 is ` 7,25,000. He is living in a rented house and
paying rent of ` 6,000 p. m. Compute his total
income.

A-6
 [9] BD–2043

vFkok
(Or)
fe- gseUr ,d fgUnw vfoHkkftr ifjokj ds dŸkkZ }kjk
fuEufyf[kr fooj.k izLrqr fd;k x;kA dj&fu/kkZj.k o”kZ 2017&18
ds fy, ifjokj dh dqy vk; vkSj ‘kq) dj nkf;Ro dk ifjdyu
dhft, %
`
(i) vYidkyhu iw¡th ykHk 22,500
(ii) nh?kZdkyhu iw¡th YkkHk 18,000
(iii) O;kikj ls ykHk 3,80,000
(iv) QeZ ls ykHk 25,000
(v) fdjk;s ij mBkbZ xbZ lEifŸk ls vk; 72,000
(vi) mDr lEifŸk ij LFkkuh; dj 8,000
(vii) lwfpr dEiuh dh izfrHkwfr;ksa ij C;kt
¼’kq)½ 27,000
(viii) ifjokj ds ,d lnL; ds uke ls
,y- vkbZ- lh- dh /ku j{kk ikWfylh gsrq
va’knku 30,000
(ix) fpfdRlk chek izhfe;e jksdM+ esa fn;k 8,000
(x) jk”Vªh; lqj{kk dks”k esa nku 25,000
The following details have been supplied by Mr. Hemant
Karta of H. U. F. Compute the total income and net tax
liability of the H. U. F. for the assessment year 2017-18 :
`
(i) Short-term capital gain 22,500
(ii) Long-term capital gain 18,000
(iii) Profit from business 3,80,000

A-6 P. T. O.
 [ 10 ] BD–2043

(iv) Profit from a firm 25,000

(v) Rental income from the property let out 72,000
(vi) Local taxes on the above property 8,000
(vii) Interest on securities of a Listed
Company (Net) 27,000
(viii) Contribution for Dhan Raksha Policy of
LIC in the name of a member of the
family 30,000
(ix) Medical insurance premium paid in
cash 8,000
(x) Donation to National Security Fund 25,000
bdkbZ&5
(UNIT—5)

5- ¼v½ dj olwyh ds fHkUu&fHkUu rjhdksa dk o.kZu dhft,A

¼c½ fuEufyf[kr lwpuk ls /kkjk 234 A ds vUrxZr ,d O;fDr
}kjk ns; C;kt dh x.kuk dhft, %
dj&fu/kkZj.k o”kZ 2017-18

vk;dj fooj.kh nkf[ky djus dh frfFk 13-1-2018

vk;dj fooj.kh nkf[ky djus dh ns; frfFk 31-7-2017

mn~xe LFkku ij dVk gqvk dj ` 7,000

vfxze pqdk;k dj ` 18,000
fooj.k nkf[ky djrs le; Lo;a dj&
fu/kkZj.k ij pqdk;k x;k dj ` 4,500
fu/kkZfjr vk; ij ns; dj ` 35,360

A-6
 [ 11 ] BD–2043

(a) Describe the different modes of recovery of Tax.

(b) From the following information compute the interest
payable by an individual under section 234 A :
Assessment year 2017-18
Data of filling the return 13-1-2018
Return due on 31-7-2017
Tax deducted at source ` 7,000
Tax paid in advance ` 18,000
Tax paid on self-assessment at the time
of filling the return ` 4,500
Tax payable on assessed income ` 35,360
vFkok
(Or)
vfxze dj nsus dk nkf;Ro dc mRiUu gksrk gS \ bl izdkj dk
dj dc pqdk;k tkrk gS rFkk bldh lax.kuk ,oa Hkqxrku dSls
fd;k tkrk gS \
When does the liability to pay advance tax arise ? When a
such tax is to be paid and how is it calculated and paid ?

BD–2043 5,650

A-6 P. T. O.