Nalanda Open University 2009 B.Com Final , , Part-III -VII (Taxation Law and Accounts) (2nd Part) - Question Paper
Final Examination, 2009 B.Com, Part-III Paper-VII (Taxation legal regulations and Accounts) (2nd Part)
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8. Profit and loss A/c of Mr. S.K.Singh shows net profit of 2,60,000 after debiting following items:
(i) Cash payment to a creditor Rs. 84,000 ?iO)000000)000)CiN[?ra[)00)000)6000000)
(ii) Sales Tax Rs. 5000 and penalty Rs. 10,000 for delay payment of sales tax.
(iii) Payment of income tax Rs.50,000 and income tax procedure expenses Rs. 20,000
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(iv) Municipal Tax Rs. 5400. 1/3 portion of the house is used for business and half portion is for self residence and remaining portion is let out. ____
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Compute income from business for assessment year 2006-07. _
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Compute the "Income from other sources" of B.K.Tiwari for the assessment year 2006-07.
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(i) Winning from wager Rs. 80,000 00000)000)0000) csdbfrasO)
(ii) Amount received form lottery 1,66,500 000"300)00)000)00)00070)00G)*0n0<c>ieoi0)
(iii) Family pension @ per month Rs. 8750)0000000000)00000)5[)0000000)C006I?IC?|0)
(iv) Dividend received from a foreign company Rs. 50,000 00000CII0)02000)00)00070)0060[
(v) Interest received on Govt. Securities Rs. 52,500 0000000)000060000000)00)00070)?
lO.Distinguish between a recognized provident fund and unrecognized provident fund.
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