SECTION – A (3 MARKS)

S.No Questions Unit K-Level CO PO

1. What you mean by Assessee? I 1 1 PO2

2. What is an assessment year? I 3 1 PO2

3. What you mean by ‘Assessee in default ’? I 2 1 PO1

4. Who is called ‘Representative Assessee’? I 3 1 PO3
5. Write a short note on ‘HUF’? I 2 1 PO1,PO3

6. Define previous year I 2 1 PO1,PO3

7. Define person u/s 2(31) I 4 1 PO3
8. What is ‘income’ u/s 2 of the income tax Act? I 3 1 PO4
9. What is incidence of tax I 1 2 PO2,PO3
10. When an individual will be ordinary resident? I 2 2 PO2,PO3
Mr. Prem left India for the first time on 17th I 1 2 PO5
12.2023 and returned back to India on 5th
11. Feb.2024.Identify his residential status for the
A/Y 2024-2025.

Mr. Rajan left Singapore on 15-03-2021 after I 1 2 PO5,PO6

staying in India for 15 years. He returned to
12. India on 31-08-2023. What will be his
residential status for the assessment year
2024-2025?
Mr. Rajendran left India for the first time on I 2 1 PO1,PO3
15-12-2023 and returned back to India on
13.
2-2-2024. Determine his residential status for the
A/Y 2024-25.
Determine the residential status of Mr. X for the I 3 2 PO1
previous year 2023-24 who left India for the first
14. time on15-9-20 and came back 1-9-22. He again
left for Dubai on 15-june-2023 to come back on
Feb 14,2024 to settle in India forever
Mr. J an Indian citizen, goes abroad on 1.4.2016 I 2 1 PO1
for the first time. He returns to India on
15.02.2023. During the previous year 2023-2024
15.
he was in India only for 185 days. Find his
residential status for the assessment year
2024-25.
16. Define the term “Salary” II 1 2 PO2
17. Explain the term “perquisites” II 2 2 PO1,P03
What is an allowance? II 1 2 PO1,PO2,
18. PO3,PO5
 What is professional tax? II 1 2 PO1,PO2,
19. PO3
What you mean by ‘Recognised provident fund’ II 3 2 PO1,PO2,
20. PO3
21. Write a short note on meaning of DA. II 1 2 PO1,PO3

22. Explain any three tax free perquisites. II 1 2 PO3

23. What is HRA? II 2 2 PO3
Write a note an ‘standard deduction’ II 1 3 PO3,
24.
PO11,
Define pension II 1 2 PO11,PO1
25. 2
Mr. Ramesh was appointed in the scale of Rs. II 1 2 PO11,PO
12,000-420-18300 on 1.9.2020. Compute salary 12
26. income for the previous year 2023-2024 if (a)
the salary is due on 1st of every month, (b) the
salary is due on last date of every month.
Calculate the amount of basic salary for the II 1 2 PO11,PO
previous year 2024-25 of an officer of an public 12
sector undertaking who is appointed on 1-9-2018
27. in the grade of Rs.
18,000-500-20,000-600-26,000. He gets his
increment after every twelve months and his
salary is due on last date of the month.

Salary received (after making the following II 1 2 PO1,PO3

deductions) by Mr. G is Rs. 25,000; Contribution
to RPF Rs. 2,000; Income tax Rs.400;
28. Professional tax Rs.300; Life Insurance premium
Rs.700; for damages caused by him Rs.100.
Assume Mr. G did not receive any allowances .
Find out Mr. G’s Basic salary
Compute taxable HRA of Mr. Raghu who is II 1 2 PO1,PO3
29. working in Trichy. Basic salary Rs.3,000 p.m.
HRA - Rs. 700 p.m. (Rent paid Rs. 400 p.m)
Calculate taxable HRA from the following: II 3 2 PO1,PO3,
HRA received - Rs. 1,000 p.m. PO5
30. Rent paid for rented house-Rs. 1,500 p.m
Salary - Rs. 10,000 p.m.
D.A - Rs. 500 p.m
Define annual value III 1 4 PO7,PO8,
31. PO9
Write a note an ‘unrealised rent’. III 1 4 PO5,PO6,
32. PO7
33. What do you meant by self-occupied property? III 1 4 PO3,PO5
What is vacancy allowance? III 3 4 PO8,PO9,
34. PO10
What is FRV? III 1 4 PO1,PO3,
35. P011
Explain the term ‘standard rent’ III 1 4 PO1,PO3,
36. P011
 What is municipal tax? III 1 4 PO1,PO3,
37. P011
Define sub-letting III 1 4 PO1,PO3,
38. PO5
What is expected rent? III 1 4 PO7,PO8,
39. PO9
Define House Property. III 1 4 PO5,PO6,
40. PO7
From the following calculate the expected rental III 1 4 PO3,PO5
value.
MRV Rs. 30,000
41.
FRV Rs. 36,000
Standard rent Rs. 33,000.

From the particulars below compute Annual III 1 4 PO8,PO9,

PO10
value
Municipal Rental Value Rs. 72,000
42. Fair Rental value Rs.90,000
Real Rent Rs. 80,000
Standard rent Rs.84,000

Find out the GAV: III 1 4 PO1,PO3,

P011
Municipal value Rs.1,20,000
Fair rent Rs.1,30,000
43.
Standard rent Rs.1,10,000
Actual rent Rs. 1,26,000

Compute annual value from the following III 1 4 PO8,PO9,

PO10
Actual Rent Rs.7,000 p.m.
44.
Municipal Rental value Rs.60,000 p.a
Fair rental value Rs. 66,000 p.a
From the following particulars, compute gross III 4 4 PO3,PO1
1,PO12
annual value
Municipal value Rs. 60,000
45. Fair rent Rs. 65,000
Standard rent Rs. 59,500

Actual rent Rs. 72,000

Define clearly the term “Business” IV 1 3 PO1,PO3,
46. PO12
 Explain the method of accounting in Business IV 1 3 PO1,PO3,
47. PO12
Explain ‘deemed profits’ u/s 41 IV 1 5 PO1,PO2,
48. PO3,PO5
What is profession? IV 1 5 PO11,PO1
49. 2
What do you mean by ‘Self generated assets’? IV 1 5 PO11,PO1
50. 2
State any four inadmissible expenses? IV 4 5 PO3,PO1
51. 1,PO12
What is meant by ‘Specified profession or IV 2 5 PO1,PO3,
52. businesses? PO12

Write a note on ‘expenditure on scientific IV 2 5 PO1,PO3,

53. research’ PO12

State any four inadmissible expenditure IV 3 5 PO3,PO1

54. 1,PO12
What are the provisions relating to preliminary IV 1 5 PO1,PO3,
55. expenses? PO12

A trader paid Rs. 22,250 for Advertisement IV 1 5 PO3

56. expenses in cash. Compute the inadmissible
expenses.

A firm’s stock of goods valued on 1.04.2023 at IV 2 5 PO5,P011

57. Rs. 2,50,000 at 20% below the cost. Calculate
the amount of under valuation of stock.

The Profit and loss Account of Mr. Sunder IV 1 3 PO5

showed a Profit of Rs.1,25,000 for the year
ended 31.3.2024. The opening and closing stock
was Valued at Rs.80,000 and Rs.90,000
58. respectively Both the stocks were Undervalued
at 20% below cost and depreciation was over
charged by Rs. 3,000. Compute his Business
Income.

The P&L Account of a firm show a Profit Rs. IV 3 2 PO3,PO1

20,000 after charging the following sums. 1,PO12
Income Tax Paid Rs. 20,000. Travelling
59. Expenses (Business) Rs. 50,000, Penalty and
Fees Rs. 10,000. Sales Tax Rs. 50000.
Remuneration to Partners Rs. 80,000. Compute
the taxable Profit.

From the following income of Mr. W. compute IV 2 5 PO1,PO3,

his Business Income. PO12
60.
Wages Rs. 50,000.
 Sales Rs. 10,00,000.
Commission received Rs. 20,000.
Interest Income Rs. 10,000.
Income Tax Rs. 5,000.
Bad debt reserve Rs. 6,000.
Depreciation Rs. 15,000.

What is depreciation? V 1 1 PO1,PO2,

61. PO3,PO5
Define Capital asset? V 1 1 PO1,PO2,
62. PO3
Write a note a ‘written down value’ V 1 1 PO1,PO2,
63. PO3
What do you meant by unabsorbed depreciation? V 6 2 PO1,PO3
64.

65. What are the intangible Assets? V 2 2 PO3

66. What do you meant by ‘self generated assets’? V 3 2 PO3
What is ‘Actual cost’? V 2 2 PO3,
67.
PO11,
Define ‘Block of Assets’ V 1 2 PO3,PO1
68.
1,PO12
Define Actual Cost. V 1 1 PO1,PO3,
69.
PO12
What do you mean by Additional depreciation? V 1 1 PO1,PO3,
70.
PO12
Mr A Purchased the car in April 2018 for Rs. V 1 1 PO3,PO1
1,PO12
1,90,000 for his business use. on 10th June
2023 he gifted the car to his son X, who use it
fully for his professional purposes. the market
71. value up the car on date of gift was Rs.
1,70,000. Find out the Cost of the car
for Computation of depreciation for the
PY.2023-2024.

Mr. K Purchased a Motor Car on 1.5.2019 for V 1 1 PO1,PO3,

PO12
Rs.6,00,000. He gifted it to his brother M on

72. 1.7.21. M sold the car to Y on 31.12.2022. K

Purchased the car Car from Y on 1.12.2023 for
Rs. 4,50,000 for his Business. What would be
 the cost of the car for the purpose of
Depreciation?

Abdullah Purchase a building on 10th April 2021 V 1 4 PO1,PO3,

PO12
for Rs. 6,00,000 and let out for Business
Purchase @ Rs. 8,000 p.m. On 1st April 2023, he
took Possession of the Building from the tenant
73. and used the same for his own Business purpose.
Find out the actual cost for Depreciation for
P.Y.2023-24. Assume rate of Depreciation is 10
%.

Mr. Balamurugan Purchase Machine on 1st July V 1 4 PO1

2017 for Rs. 2,00,000 and sells it on 1st August
2019 for Rs. 2,50,000. He re-acquires the same
74. machinery 2nd August 2023 for Rs.3,00,000.
What will be its actual cost for the P.Y 2023-24?
Assume Rate Depreciation to 15%.

Compute the Value for calculating depreciation V 1 4 PO3

from the following information for the
A.Y.2024-25:
Written Down Value of Furniture on 1.04.2023 is Rs.
5,00,000.
75.
Additions Made on 1.8.23 is Rs.50,000.

Sale value of Furniture on 1.10.2023 is Rs.1,00,000.

SECTION – B (8 MARKS)
S.N Questions Unit K CO PO
o Level
76. Explain the tax system prevalent in India. I 3 1 PO1,PO3
77. State the different classes of Assessees. I 3 2 PO1,PO3
78. Differentiate capital receipts and revenue receipts. I 2 2 PO4,PO5
79. Explain the canon of taxation I 1 2 PO2,PO3
80. How to identify the residential status of Individual – I 1 2 PO8,PO9
Discuss?
81. Mr. Arun is an Indian citizen. What is residential status I 4 2 PO8,PO9,P
for the assessment year 2024-25.Arun stay in India is as O10
follows
Previous year Presence in India
2023-24 185days
2022-23 15 days,
2021-22 26 days.
10 years prior to 2021-22, he was in India for 20 days.

82. Mr. Shobhan is an Indian citizen. Currently lives in I 2 1 PO3,PO11,

PO12
Germany with the employment of a company located
there. During the previous year 2023-24 he was in India
for 40 day. During the year 2023 -24, his income is not
taxed in any other country. His Indian income is Rs.
19,00,000 during the previous year. Determine the
residential status of Mr. Shoban.

83. Mr. Y. A German came to India for the first time on I 2 2 PO1,PO3,P
O12
10.1.21 and left to Australia on 15.9.21. He again came
to India on 1.5.23 leave for Singapore on 15. 7.23.
Determine his residential status for the assessment year
2024-25.

84. The following amounts of income have been computed I 4 2 PO1,PO3,P

O12
for Mr. Ramchand for the previous year ended on
31.03.2024.

(a)Salary accured and received in India Rs.

25,000
(B)Profits from hotel business in Japan are Rs.
50,000
(c)Dividend declared in Japan received in India
Rs.10,000

Compute the total income of Mr Ramchand for the

relevant assessment year if he is an ordinary resident
85. Particulars of income of Mr. Subramani who is resident I 2 2 PO1,PO2,P
O3,PO5
but not ordinarily resident in India for the assessment
year 2024-25 are given below.
 (a) Income earned in Pakistan but
received in India Rs.5,00,000
(b) Share of profit from a firm in
IndiaRs. 1,00,000
(c) Past untaxed for foreign income
Rs. 3,00,000

Compute Gross Total Income.

86. Explain – Profit in lieu of salary. II 2 2 PO1,PO2,P

O3,PO5
87. Explain the characteristics of salary. II 2 2 PO1,PO2,P
O3,PO5
88. What are the fully exempted taxable allowances as per II 1 2 PO1,PO2,P
O3
TI act?

89. Write short note on meaning of salary and dearness II 2 2 PO1,PO2,P

O3,PO5
allowance.

90. Mr. A is salaried employee working in Delhi. He gives II 6 2 PO1,PO2,P

O3,PO5
the following details.
Salary Rs.20,000 p.m
D.A ( forming part ) Rs.10,000 p.m
HRA Rs.8,000 p.m
(Rent paid by him Rs. 10,000 p.m.)
Calculate taxable HRA.

91. Calculate taxable HRA from the following: II 3 2 PO1,PO2,P

O3
Basic Pay Rs.5,000 p.m

DA (Not forming) Rs.3,000 p.m

HRA Rs.3,000 p.m

(Rent paid Rs.3,250 p.m)

Medical allowance Rs.500 p.m

92. From the details given below, compute net salary for the II 2 2 PO1,PO2,P
assessment year 2024-25. O3
Salary Rs.3500 p.m

DA Rs.1000 p.m
CCA Rs.200 p.m
HRA Rs.1000 p.m
 (Rent paid in delhi Rs.1500 p.m)
Commission on sales received Rs. 6000.

93. Mr. P submits the following particulars of his II 3 2 PO1,PO3

salary income for the previous year 2023-24.
Salary
Rs.7500 p.m
Dearness allowance Rs.3000 p.m
House rent allowance Rs. 3000 p.m
Rent paid Rs.2000
p.m

½% of commission of gross profit Rs.

25000p.a.
Determine gross salary for the assessment year 2024-25
considering the following:
a. House is located in Nioda and
b. D.A.is a part of super annuation benefits.

94. Calculate the amount of R.P.F. which is taxable. II 3 2 PO3

● Salary Rs. 7,500 p.m
● Employer’s contribution to RPF @ 14% of
Salary
● Interest credited to RPF during the year @ 12%
is Rs. 24,000.
95. Compute salary income from the following II 6 2 PO3
● Salary @ Rs.6.250 p.m
● D A @ Rs.3,000 p.m (50% enters for retirement
benefits)
● Commission @ 2%on turn over of Rs.8,00,000
● Bonus Rs.6000
● PF Contributions by employer and employee
@14 % of basic salary, DA for service benefits.
● Interest credited during the year in PF @ 11%
being Rs. 5500.
Calculate salary income if provident fund is Recognized
provident fund
96. Enumerate the income from House property which are III 6 4 PO3,
wholly exempt from Tax.? PO11,
PO12
97. How annual Value of let-out house is determined? III 5 4 PO7,PO8,
PO9
98. How will you compute Income from let-out house III 1 4 PO5,PO6,P
property? O7
99. Write a note on Self occupied property. III 6 4 PO3,PO5
100. Write note on Exempted from House property. III 1 4 PO8,PO9,P
O10
101. From the particulars below compute Annual value III 1 4 PO1,PO3
MRV Rs. 72,000
FRV Rs. 90,000
Real rent Rs. 80,000
Standard rent Rs. 84,000
102. From the following details, find out the Gross Annual III 1 4 PO1,PO3
value for a house which is let out.
Municipal Value 1,05,000
Fair Rent 1,07,000
Standard Rent under Rent Control Act NIL
Actual rent received 1,02,000
Vacancy period NIL
Unrealized rent NIL

103. Mr. Surya provide the following particulars for the III 1 4 PO4,PO5
assessment year 2024-25. Calculate gross annual value.
Municipal value 60,000
Fair rent 65,000
Standard rent 59,500
Actual rent 72,000
Loss due to vacancy 6000
104. Mr. R has got house A. The particular for the previous III 2 4 PO2,PO3
year 2023-24 are given below
Fair rent Rs. 90,000
Standard rent under rent control act Rs. 70,000
Municipal value are Rs 80,000
Municipal tax paid by the owner Rs. 8000
Annual rent Rs. 96,000
Annual rent received Rs80,000
Vacancy period 2 months
Determine the annual value for the previous year
2023-24.
105. Compute the Annual value from the particulars given III 1 4 PO8,PO9
below.
Municipal rental value Rs 84,000
Fair rental value Rs 90,000
Standard rent Rs 87,000
 Real rent RS. 8000 p.m
Unrealized rent RS. 4000
Date of completion 31.07.2023
Date of letting 1.10.2023.

106. Discuss the procedure for computing business income. IV 3 5 PO8,PO9,P

O10
107. What are the admissible deductions under Profits and IV 6 5 PO3,PO4,P
Gains of Business or Profession? O5
108. When is income deemed to arise from business or IV 3 5 PO3,PO4,P
O5
Profession?
109. What are expressly disallowed expenses? Is it necessary IV 4 5 PO8,PO9
to put restrictions on allowing ability of business
expenditure?
110. Explain ‘Deemed profit’ U/S 41. IV 2 5 PO8,PO9,P
O10
111. Find out amount of deduction under section 35AB to IV 2 5 PO3,PO11,
PO12
Bagavathi in A.Y 2024-25 taking into consideration the
following information
● Patents acquired on 1.5.2023 @ Rs. 4,20,000
● Patents acquired on 1.11.2023 @ Rs. 5,60,000.
112. Mr.Rahul submits the following particulars of his IV 6 5 PO1,PO3,P
O12
business of which you calculated the income from
business. Net profit as per the P&L a/c (after charging
the following) Rs. 40,000.
1. Sales tax Rs. 2,000
2. Income Tax Rs.
3,000.
3. Bad debts provision Rs.
1,000.
4. Commission to procure business order Rs.
4,000.
5. Interest on Capital Rs.
1,500.
6. Depreciation Rs. 2,000
(but as per income tax rules rs.1,800 only)
113. From the following details compute the taxable income IV 1 3 PO1,PO3,P
under the head income from business. Profit before tax O12
adjusting the following items is Rs. 7,00,000.
Trade expenses Rs. 5,000
Establishment expenses Rs. 10,000
Household expenses Rs. 2,000
Discount Allowed Rs. 1,000
 Income tax Rs.700
Provision for bad Debts Rs. 1,000
Donation to National Defense Fund Rs. 1,000
Audit Fees Rs. 200
114. Trading account of M/s X traders show a gross profit of IV 2 4 PO1,PO2,P
O3,PO5
Rs. 1,60,000 before debiting in the following expenses.
I. Personal expenses Rs. 10,000
II. Income Tax Rs. 200
III. Insurance Premium paid to LIC 1,000
IV. General expenses Rs. 2,000
V. Salary to office staff Rs. 3,000
VI. Provision for taxation Rs. 1,000
VII. Audit fees Rs.300
VIII. Commission on raising loan Rs. 400
IX. Interest on capital Rs. 500
Compute the income under the head profit from
Business.
115. From the following statement compute the business IV 4 4 PO2,PO3
income.
● Commission earned Rs. 8,000
● Sales Rs. 40,000
● Purchase Rs. 15,000
● Staff salary Rs. 7000
Purchased of type writer Rs. 10,000.
116. Give the important provisions of IT Act, 1961, relating V 2 1 PO8,PO9
to Depreciation
117. What are the rules regarding the claim of deduction of V 2 1 PO8,PO9,P
depreciation? O10
118. Explain fully the rules for claiming depreciation V 5 1 PO3,PO11,
allowance. PO12
119. Explain the provisions relating to additional V 2 1 PO1,PO3,P
depreciation. O12

120. Write in briefly the method of charging depreciation. V 1 1 PO1,PO3,P

O12
121. Compute the value of plant and machinery for V 1 1 PO1,PO3
calculating depreciation from the following for the A.Y
2024-25.
● Written drown value of plant and machinery as
on 1.4.2023 is Rs. 3,00,000
● Additions made on 1.09.2023 Rs. 60,000
 ● Sale of one of the plant and machinery on
1.12.2023 Rs. 40,000
122. From the following information, compute the amount of V 1 1 PO1,PO3
depreciation allowable for the A.Y 2024-25.

⮚ WDV on furniture 1.4.2023 Rs. 1,10,000

⮚ Furniture purchased on 10th June 2023 Rs.

15,000

⮚ Furniture purchased on 18th Jan 2024 Rs. 20,000

⮚ Part of Furniture sold in Feb 2024 Rs. 3,000

⮚ Rate of Depreciation 10%.

123. Compute depreciation allowable for the AY.2024-25. V 2 4 PO1,PO3

⮚ WDV of furniture on 1.4.2023 Rs. 1,20,000

⮚ Furniture purchased in June 2023 Rs. 10,000

⮚ Furniture purchased in Jan 2024 Rs. 30,000

⮚ Furniture sold in Feb 2024 Rs. 5,000

⮚ Rate of Depreciation 10%.

124. Mr. Arumugam has provided the following particulars. V 2 5 PO5,PO6,P

O7
Written down value of block of plant and machinery on
1.4.2023 was Rs. 6,00,000, A new machinery was
purchased in May 2023, costing Rs. 2,00,000. He sold
machinery on 15th Sep 2023 for Rs. 80,000. The rate
depreciation of all machinery is 15%. Calculate the
amount of depreciation.
125. Miss. Saranya purchased on old car on 10th July 2021 for V 6 4 PO5,PO6,P
O7
Rs. 60,000. The Car is used business as well as personal
purpose (1/3) of the assessee. Compute the amount of
depreciation for the P.Y 2023-24. The rate of
depreciation is 15%
 SECTION – C (15 MARKS)
S.No Questions Unit K CO PO
Level
126. Classify assessees on the basis of their residence and I 1 1 PO1,PO3,
indicate their tax liability. PO5

127. Mr. Gautham , a German is appointed as a scientist in I 2 2 PO1,PO3

India on 15.4.20. On March 31st 2021 He want to
America on deputation and left his wife and children in
India. He returned to India and joined his original job on
6th February 2024. Determine his residential status in
India for the AY 2024-25.

128. Mr. D earns the following income during the FY2023-24. I 2 2 PO1,PO3

⮚ Dividend from Indian company Rs. 10,000

⮚ Pension from farmer employer in India

received in America Rs. 40,000

⮚ Profit from business in Paris controlled in

India (half remitted to India as received) Rs.
2,00,000
⮚ Income from house property in Ceylon
received there Rs. 40,000
⮚ Income from agriculture in Bhutan received
there & Brought to India Rs. 50,000
Compute taxable income if he is Resident, Not ordinarily
resident or Non-resident.
129. Following are the incomes of Mr. Sasikumar for the I 1 1 PO5,PO6,
PO7
previous year 2023-24. Calculate the taxable income
on the assumption that he is

A. Ordinary resident
B. Non Ordinary Resident
C. Non Resident

⮚ Profit from business carried from Hyderabad Rs.

50,000
⮚ Income accrued in India but received in
Hongkong Rs. 75,000
⮚ Past untaxed income brought into India during
the previous year Rs. 42,000
⮚ Income from house property situated in Sri
Lanka Rs. 48,000
 ⮚ Income from agriculture in USA 1,00,000

130. For the accounting year ended 3lmarch 2024, Mr. I 2 1 PO5,PO6,
Shashkanth furnished the following particulars PO7
ofhisincome.
● Salary received in India Rs. 60,000
● Profit from business in Germany but received in
India Rs.15,000
● Income from house property in Pakistan
deposited in a bank there Rs.12,000
● Profit from business established in Bangladesh
but business is controlled from India Rs. 46,000
● Income accrued in India but received in Sweden
Rs. 25,000
● In this accounting year Mr. Sasikanth has bought
into India foreign income of earlier year Rs.
42,700
● profit from sales of plant at Mumbai (50%
received in Bangkok) Rs.1,60,000
● Interest on Japan development bonds (60%
received in India).Rs. 1,00,000
Compute the total income if
(a)He is Resident
(b)He is not ordinarily resident or
(c)He is non resident

131. Explain the Incomes Taxable under the head salaries. II 6 2 PO3,PO5

132. Mr. Suresh is an employee of a company is New Delhi II 5 2 PO8,PO9,

.He submits the following particular office income from PO10
the company and you are asked to work out his taxable
salary income for the financial year2023- 24.
❖ Salary Rs. 18,000 per month

❖ Bonus one month salary

❖ Contribution to recognized provident fund

15% of salary, the company also
contributing equals sum,
❖ Interest credited to P.F at 10% per annum
amounted to Rs. 20,000 during the year
❖ He received entertainment allowances from

the company at Rs 2,000 per month which he

claims that he has fully spent for that purpose.
❖ He received a gift worth Rs. 12,000 from his

employer

❖ Deposits in PPF Rs. 90,000

 ❖ Deposit in NSC Rs. 40,000

133. Mr. Nataraj is employed in Delhi and gets the following II 3 2 PO1,PO3
employments.

❖ Basic salary Rs. 8,000 per month

❖ DA-Rs 6,000 per month(forming part)

❖ Bonus Rs. 10,000

❖ CCA- Rs. 2,000 per month

❖ Conveyance allowance RS. 500 per month actual

amounts spend Rs 4,000)

❖ He's provided with the rent free house. Calculate

taxable salary and value of rent fee house on the

assumption that the population is 45 lakhs.

❖ Principle amount of repayment of housing loan

Rs. 1,10,000.
❖ Amount invested in NSC Rs. 35,000.

❖ Deposit in PPF Rs. 40,000.

134. Compute the taxable salary of Mrs. Devi of Madurai II 3 2 PO1,PO3

(population 18 lakhs) for the assessment year 2024-
2025from the following particulars:
❖ Basic pay Rs. 8000pm

❖ Dearness allowance of Rs. 2000 p.m (enters into

retirement benefits)
❖ Bonus Rs.8000p.a

❖ Rent free accommodation provided by the

employer, the fair rental value of which is Rs
20,000p.a. The cost of furniture provided there
is Rs. 10,000

❖ Entertainment allowances Rs. 500 pm

❖ Her contribution to RPF is at 15% of salary

 ❖ Employer’s contribution to RPF is at Rs. 15000
p.a.

❖ Interest credited to Provident fund at 9.5% per

annum amounted to Rs. 1900
❖ Free use of a larger motor car for both official
and personal purposes. Driver is also provided
by the employer
135. Mr G an employee of Madurai (population 18 lakhs) II 2 2 PO4,PO5
based company provides the following particulars office
salary income:
❖ Basic salary 12,000pm

❖ Profit bonus 12,000

❖ Commission on turnover 42,000

❖ entertainment allowance 2000 pm

❖ club facility 6000

❖ Transport allowances 1800 pm

❖ Rent free house provided by employer, lease rent

paid by employer 6000 pm
❖ Free education facility for three childrens of the
employee [bill issued in the name of
employee-22,500
❖ Gas, electricity and water bills issued in the
name of employee but paid by employer 16,800.
Compute the income under the head salary.
136. Compute the income under the head of income from III 2 4 PO2,PO3
house property from the following particulars:
❖ Nature of occupation –Self occupied

❖ Date of completion 1-10-2002

❖ Municipal valuation Rs. 1,20,000

❖ Fair rental value Rs. 90,000

❖ Standard rent under the rent Control Act Rs.

1,26,000
❖ Municipal taxes paid 16%

❖ Ground rent [not paid] 8000

❖ Interest on loan borrowed for construction Rs.

35,000 per annum.
137. Mr R constructor one house in 1981. 50% percentage of III 1 4 PO8,PO9
the property is let out and 50% is occupied for his
residence. The let out portion was also occupied for 2
months. The particulars are;
❖ Municipal value of full house Rs. 5000 per
annum
❖ Annual rent of 50% portion artist 4000 per
annum
❖ Municipal tax Rs. 1000 per annum

❖ Ground rent Rs. 100 per annum

❖ Repairs are Rs. 900 per annum

❖ Fire insurance premium Rs. 200 per annum

❖ Collection charges Rs. 300 per annum

❖ Interest on loan taken for construction 1,000 per

annum
❖ His income from all other sources amounts to
50,000. Determine his gross total income.
138. Calculate income from house property of Ms.Sudha from III 4 4 PO8,PO9,
the following information. House was constructed in PO10
1997, 75% percentage is let out and 25% is self occupied
by Ms.Sudha herself the other details of the property are
as follows.
❖ Municipal rental Value Rs. 50,000

❖ Fair rental Value Rs. 60,000

❖ Standard Rent Rs. 55,000

❖ Municipal Tax Rs. 4,000

Interest on Borrowed Capital Rs. 10,000
139. Sri Bhaskar constructed one house which consists of two III 4 4 PO3,PO1
equal independence units in 1991. One of the units is let 1,PO12
out and other units is occupied for his own residence.
The let out portion was also Self occupied for 2 months.
The particulars are;
❖ Fair rental value of house Rs. 9,600 per annum

❖ Municipal rental value of full house Rs.

5000perannum
❖ Actual rental 50% portion Rs. 400 per month

❖ Local tax Rs 1000

❖ Insurance premium Rs 200

 ❖ Ground rent Rs. l00

❖ Collection charges Rs. 300

❖ Repairs Rs. 900

❖ Interest on loan taken for construction Rs. 1000

❖ His income from all other sources 12,000 per

annum
Determine his income from” house property”.
140. Mr. Xavier let out his house . Compute the income from III 6 4 PO1,PO3,
house property from the following . PO12
Rs.
Fair rental value 36,000
Actual rent received 4,000 p.m.
Municipal rental value 40,000
Standard rent 38,000
Municipal tax 10%
Actual repair Expenses 4,000
Ground rent 2,000
Interest on loan for construction 12,000
Vacancy period 3 months
141. Explain the incomes chargeable under the head Profit IV 2 3 PO1,PO3,
and Gain of Business and Profession. PO12
142. Mr. Raman has Prepared the following P&L A/C for the IV 5 5 PO1,PO2,
year ended 31.03.2024.You are required to compute his PO3,PO5
income from business and his gross total income for the
A.Y.2024-25.
Particulars Rs. Particulars Rs.
To Income tax 700 By Gross Profit 1,35,900
To charities 375 By Dividend 2600
(co-operative
society)
To Donation 400 By Rent from 500
House property
To 1450 By Bad Debt 2000
Advertisement recovered
To Postage & 100
Telegram
To Other 5125
Expenses
To Net Profit 1,32,850

1,41,000 1,41,000

143. From the following P&L A/C compute the business IV 5 5 PO1,PO2,
income. PO3,PO5
Particulars Rs. Particulars Rs.
To office salary 6,500 By Gross 40,000
 Profit
To Provision for 3,000 By 5000
bad debts Commission
To interest on 2,000 By Rent of 500
capital building
To depreciation 1,200
To advertisement 2,000
To fire insurance 3,000
(Buildings)
To sales Tax 1,000
To Net Profit 26,800
45,500 45,500

144. From the following P & L A/c. Calculate income from IV 3 5 PO1,PO2,
business. PO3,PO5
Particulars Rs. Particulars Rs.
To Rent 40,000 By Gross profit 2,50,00

To Salary 25,000 By House property 1,50,00

income
To Depreciation 10,000 By Income from other 2,00,00
sources
To Donation 8,000
To Net profit 5,17,000
6,00,000 6,00,00
Additional Information:
❖ Depreciation to be allowed as per income tax
provision Rs. 8,000.
❖ Business income of Rs. 12,000 is not shown in
P&L A/c
❖ Rs. 8,000 of the rent is of personal nature.

145. Mr. Y is a Chartered Accountant in Chennai. You are IV 4 5 PO1,PO2,

given the income and expenditure account for the year PO3
2023-24. Compute his income from profession for the
AY : 2024-25.
Expenditure Rs. Income Rs.
To Office Rent 33,000 By Audit fees 3,00,000

To Salary to staff 75,000 By Financial 60,000

Consultancy
services
To Charitie 5,000 By Interest on 22,000
deposits
To Gift to relatives 6,000 By Dividend on 6,000
units of UTI
To Subscription for- 2,400 By 32,000
Journals Accountancy
Works
To Drawings 16,000
To Car expenses 24,000
 To Household expenses 8,600
To NSC Purchased 40,000
To Net income 2,10,000
4,20,000 4,20,000

Additional information
❖ Office rent Rs. 3,000 paid not recorded.

❖ Depreciation of car during the year is Rs. 6,000

❖ 30% of car expenses are related to personal

purpose.
146. JAGAN is engaged in the business of manufacturing V 2 1 PO1,PO2,
Glass. On 1.4.2023 the WDV of the his various assets PO3
was as given below:

Particulars Plant & Building

Machin Rs.
ery
Rs.
W.D.V at the beginning of 5,00,00 20,00,000
the year 0
Additions during the year 6,00,00 NIL
(1.8.2023) 0
Sales of part of the assets 10,00,0 4,00,000
during the year 00
Rate of the depreciation for the P&M is 15% and
Building 10%.Compute depreciation for P.Y 2023-24 and
Written down value on 31.3.2024.
147. Calculate depreciation from the following information V 2 1 PO1,PO3
for the current A.Y:
WDV as on Addition Amount Rate of
1.4.2023 2023-24 realized the
Due to Depreci
Asset Scrap ation

Hotel 7,50,000 2,50,000 1,00,00 10%

Building 0
Furniture 3,00,000 1,00,000 - 10%

Adjustment: Hotel Building additions were made during

Dec 2023.
148. Calculate depreciation from the following assets given V 6 2 PO3
for the AY 2024-25.
Particulars WDV as Addition Rate of the
on Depreciation
1.4.2023
 Furniture 25,000 5000 10%

Residential 1,50,000 1,00,000 5%

house

Book 5,000 - 40%

149. Calculate the depreciation from the following given V 6 2 PO3

information for the current AY:2024-25
Particulars WDV as Addition Rate
on during the deprecia
1.4.2023 year
Office building 2,50,000 50,000 10%
General plant & 50,000 25,000 15%
machinery
Patents purchased in 5,000 15,000 25%
2023-24

150. From the following date, calculate the depreciation V 6 4 PO3,

admissible to an individual carrying on business for the PO11,
AY.2024-25. PO12
Factory Building (WDV) Rs.5,00,000

1-4-2023

Plant and Machinery Rs. 8,00,000

(WDV)1-4-2023

Addition: Rs. 1,00,000

30-6-2023

31-12-2023 Rs. 1,00,000

Sales: 1-12-2023 Rs. 6,00,000

Computer Acquired on Rs. 60,000

1-1-2024

Furniture and Fixtures Rs.1,00,000

(WDV) 1-4-2023

Motorcar (WDV) 1-4-2023 Rs. 60,000

K1- Remember; K2- Understand; K3- Apply; K4- Analyze;
K5-Evaluate; K6-Create