ith a suitable example.
8 the
5. (P5.13*) Mrs. X (age : 22years) has
follows:
occupied two houses for her residential purposes, particulars of which ae
are
House
Municipal valuation (MV) Rs. Rs
Fair rent (FR) 8,00,000 11,00,000
Standard rent under the Rent Control Act (SR) 9,00,000 10,00,000
Municipal taxes paid 6,00,000 10,50,000
75,000 73,000
Interest on borrowed capital (amountborrowed during December 2019,
construction completed within 2years) 6,00,000
Repairs 80,000
Nil 600
Business income of Mrs. X is Rs. 25,60,000. Besides Mrs. X is
salary of Rs. 5,60,[Link] contributes Rs. 1,20,000 towards employed by a private limited company on annual
24. Determine the taxable income and tax liability of Mrs. X public provident fund during the previousyear 2023
for the assessment year 2024-25. Ignore section 115BAC
pertaining to alternative tax regime. [Ans. 27,50,000, Rs. 6,63,000],
6.
for the assessinet
of capital gains chargeable to tax assets on March 10, 2016:
following
11. (P7.38*) Xpurchasesthe Cost
Rs.
Listed debentures of A Ltd. 1,10,000
Listed debentures of B Ltd. 1,04,000
X dies on April 3, 2022 and as per his will, debentios
On June 10,2017, he gifts debentures of BLtd. to his [Link] debentures of A Ltd. for Rs. 4,10,000 (expendit.
of A Ltd. are transferred to his son [Link] March 1, 2024,
transfer : Rs. 700). Find out tha
on transfer : Rs. 600) and debentures of B Ltd. for Rs. 2,78,000 (expenditure on
amount of capital gains chargeable to tax for the assessment year 2024-25. [Ans. Rs. 2,99,400, Rs. 1,73,3001.
