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

E–3053
B. Com. (Part III) EXAMINATION, 2021
(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 vk; ij yxk;k tkrk gS ijUrq ^vk;* ‘kCn dh dksbZ ifjHkk”kk

vk;dj vf/kfu;e esa ugha nh xbZ gS( oju~ dsoy ;g fn;k x;k gS vk;
esa D;k&D;k lfEefyr gS \ le>kb,A
Income tax is charged on income but there is no definition of
the term „Income‟ under the Income Tax Act; rather it only
provides as to what is included in income ? Discuss.

P. T. O.
 [2] E–3053

vFkok
(Or)
Hkkjrh; ukxfjd MkW- fnus’k ¼ljdkjh dEkZpkjh½ dh xro”kZ 2019&20 dh
dj&;ksX; vk; fuEufyf[kr gS %
`

(i) fons’k esa lsok djus ds izfrQy esa fons’k esa gh

izkIr osru ls vk; ¼x.kuk dh xbZ½ 5,00,000

(ii) fgUnw vfoHkkftr ifjokj dh vk; esa Hkkx 20,000

(iii) ikfdLrku esa fLFkr d`f”k Hkwfe ls vk; 20,000

(iv) Hkkjrh; dEiuh }kjk fons’k esa ns; ykHkka’k

¼ldy½ 20,000

(v) Hkkjr esa fLFkr ,d nh?kZdkyhu iw¡th lEifŸk ds

gLrkarj.k ls vk; 50,000

(vi) baXyS.M esa cSad tek ij vftZr ,oa izkIr C;kt 5,000

(vii) lkoZtfud Hkfo”; fuf/k ls izkIr Hkqxrku 30,000

MkW- fnus’k dh dj&fu/kkZj.k o”kZ 2020&21 ds fy, ldy dqy vk; dh

x.kuk dhft, ;fn og %
(i) fuoklh gS
(ii) vlk/kkj.k fuoklh gS
(iii) vfuoklh gSA
 [3] E–3053

Indian citizen Dr. Dinesh (Government employee) has the

following taxable income for the previous year 2019-20 :
`
(i) Income from salary received in foreign
country for services (computed) rendered
in that country 5,00,000
(ii) Share in the income of HUF 20,000
(iii) Agricultural income from agriculture land
situated in Pakistan 20,000
(iv) Dividend (gross) by an Indian company
payable outside India 20,000
(v) Income from transfer of a long-term
capital assets situated in India 50,000
(vi) Interest earned and received in England
from bank deposits there 5,000
(vii) Payment from Public Provident Fund 30,000
Compute gross total income of Dr. Dinesh for the assessment
year 2020-21, if he is :
(i) Resident
(ii) Not ordinarily resident
(iii) Non-resident
bdkbZ&2
(UNIT—2)
2- Jh vt; foŸkh; o”kZ 2019&20 ds fy, viuh vk; dk vxzfyf[kr
fooj.k izLrqr djrs gSa %

P. T. O.
 [4] E–3053

(i) osru ` 15]000 izfrekg

(ii) eg¡xkbZ HkŸkk ` 2]500 izfrekg
(iii) euksjatu HkŸkk ` 1]000 izfrekg
(iv) izekf.kr Hkfo”; fuf/k esa fu;ksDrk o Lo;a
` 24]000 izR;sd
dk va’knku
(v) fuf/k ls lafpr ‘ks”k ij 10.5% okf”kZd
` 21]000
nj ls C;kt
(vi) uxj {kfriwjd HkŸkk ` 200 izfrekg
(vii) fpfdRlk HkŸkk ` 10]000
(viii) fu;ksDrk dh vksj ls mUgsa jgus ds fy, ,d dLcs esa ¼ftldh

tula[;k ` 10 yk[k ls de gS½ vlqlfTtr edku dh lqfo/kk

Hkh iznku dh xbZ gS] ftldk fu;ksDrk ` 500 izfrekg fdjk;k

ysrk gSA edku dk mfpr fdjk;k ` 30]000 okf”kZd gSA edku

fu;ksDrk dk gSA

(ix) fu;ksDrk us mlds fy, ,d QjkZ’k ` 200 izfrekg ij rFkk ,d

ukSdj ` 750 izfrekg ij j[kk gqvk gSA

dj&fu/kkZj.k o”kZ 2020&21 ds fy, ^osru* ‘kh”kZd dh dj&;ksX; vk; dh

x.kuk dhft,A
 [5] E–3053

Shri Ajay furnished the following particulars of his income

for the financial year 2019-20 :
(i) Salary ` 15]000 p. m.
(ii) Dearness Allowance ` 2]500 p. m.

(iii) Entertainment Allowance ` 1]000 p. m.

(iv) Employer‟s and employee‟s
contribution to a recognised
provident fund ` 24,000 each
(v) Interest from provident fund @
` 21]000
10.5% p. a.
(vi) City compensatory allowance ` 200 p. m.
(vii) Medical Allowance ` 10,000
(viii) He has been provided with the facility of an
unfurnished house by the employer in a town
(population less than 10 lakh) for which the employer
charges ` 500 p. m. The fair rent of the house is
` 30,000 per annum. The house is owned by the
employer.
(ix) The employer has employed for him a sweeper @
` 200 p. m. and a servant @ ` 750 p. m.
Compute the taxable income under the head „salaries‟ for the
assessment year 2020-21.
vFkok
(Or)
edku lEifŸk ds okf”kZd ewY; ls vki D;k le>rs gSa \ ,sls edku dk
okf”kZd ewY; vki fdl izdkj fu/kkZfjr djsaxs tks xro”kZ esa dqN vof/k
ds fy, [kkyh jgk gks \

P. T. O.
 [6] E–3053

What do you understand by the term „Annual Value of

House Property‟ ? How would you determine the annual
value of a house property which remained vacant for part of
the previous year ?
bdkbZ&3
(UNIT—3)

3- fuEufyf[kr fooj.k ls fe- X dh O;kolkf;d vk; dh x.kuk dhft, %

fooj.k `

osru 90,000
fdjk;k 20,000
lsok pktZ 4,000
oS/kkfud O;; 5,000
vk;dj dks lap; 6,000
vo{k;.k 18,000
isVs.V vf/kdkjksa ds vtZu ij O;; 56,000
dk;kZy; [kpsZ 42,000
R. P. F. esa va’knku 12,000
Mwcr _.k 3,500
jk”Vªh; lqj{kk dks”k esa nku 2,500
‘kq) ykHk 2,00,600
4,59,600
 [7] E–3053

fooj.k `
ldy ykHk 4,50,000
ykHkka’k 4,000
Mwcr _.k olwy fd;k ¼iwokZuqer½ 4,400
Mkd[kkuk cpr cSad ij C;kt 1,200
4,59,600
uksV %
(i) djnkrk us ` 2]000 oS/kkfud [kpZ fd;s gSa tks mlds Åij py
jgs vkijkf/kd dsl ds flyflys esa [kpZ gq, gSaA
(ii) lEifŸk;ksa ij o”kZ dk vo{k;.k isVs.V vf/kdkjksa ds vfrfjDr
` 15]900 gSA
(iii) RPF esa va’knku ` 2]000 ,sls gSa tks vk;dj fjVuZ nkf[ky
djus dh ns; frfFk rd Hkqxrku ugha fd;s gSaA
From the following particulars, compute the business income
of Mr. X :
Particulars `
Salaries 90,000
Rent 20,000
Service Charges 4,000
Legal Expenses 5,000
Reserve for Income Tax 6,000
Depreciation 18,000
Expenses on the acquisition of patent rights 56,000
Office Expenses 42,000
Contribution to R. P. F. 12,000
Bad debts 3,500
Donation to N. D. F. 2,500
Net Profit 2,00,600
4,59,600

P. T. O.
 [8] E–3053

Particulars `
Gross Profit 4,50,000
Dividend 4,000
Bad debts recovered (allowed earlier) 4,400
Interest on Post Office Saving Bank 1,200
4,59,600
Notes :
(i) Legal expenses include ` 2,000 incurred by the
assessee for defending a criminal case against him.
(ii) Depreciation of the year on the assets other than patent
rights is ` 15,900.
(iii) Contribution to R. P. F. includes ` 2,000 not paid till
the due date of filing the return of income.
vFkok
(Or)
fe- tsM us o”kZ 2019&20 esa fuEufyf[kr lEifŸk;k¡ cspha %
(i) Hkwfe 2001 esa ` 1]40]000 esa [kjhnh vkSj ` 3]00]000 esa csphA
(ii) 2013 esa e’khu ` 12]000 esa [kjhnh vkSj ` 21]000 esa csphA
¼bldk vifyf[kr ewY; ` 6]000 gSA½
(iii) vizSy 2018 esa dk;kZy; dk QuhZpj ` 12]000 esa [kjhnk vkSj
` 15]000 esa cspkA
(iv) 2004&05 esa ,d nqdku ` 1]13]000 esa [kjhnh vkSj ` 1]80]000
esa csphA
(v) 2004&05 esa ,d fjgk;’kh edku ` 2]26]000 esa [kjhnk vkSj
15&4&2019 dks ` 10]60]000 esa cspkA
mlus 15&3&2020 dks ,d vU; fjgk;’kh edku ` 4]00]000 esa [kjhnkA
iw¡th ykHk ‘kh”kZd esa dj&;ksX; vk; Kkr dhft,A ykxr LQhfr
lwpdkad 2001&02&100 % 2004&05 % 113 rFkk 2019&20 % 289 gSA
 [9] E–3053

Mr. Z sold the following assets during the year 2019-20 :

(i) Land purchased in 2001 for ` 1,40,000 sold for
` 3,00,000.
(ii) Machinery purchased for ` 12,000 in 2013 sold for
` 21,000 (W. D. V. ` 6,000).
(iii) Office furniture purchased in April 2018 sold for
` 12,000 sold for ` 15,000.
(iv) Shop purchased in 2004&05 for ` 1,13,000 sold for
` 1,80,000.
(v) Residential house purchased in 2004&05 for ` 2,26,000
sold on 15-4-2019 for ` 10,60,000.
He purchased another residential house on 15-3&2020 for
` 4,00,000. Compute his taxable income under the head
„Capital Gains‟. Cost inflation index for 2001-02 is 100,
2004-05 is 113 and 2019-20 is 289.
bdkbZ&4
(UNIT—4)

4- dqy vk; dh x.kuk djus esa gkfu;ksa dh iwfrZ lEcU/kh izko/kkuksa dks
le>kb,A
Explain the provisions regarding set-off of losses while
computing the total income.
vFkok
(Or)
xro”kZ 2019&20 ds fy, fe- X dh vk; dk vxzfyf[kr fooj.k gSA
vkidks mlds ‘kq) dj&nkf;Ro ;k okilh jkf’k tSlh Hkh gks] dh x.kuk
djuh gS %
P. T. O.
 [ 10 ] E–3053

`
O;kikj ls vk; 5,56,900
lEifŸk dk fdjk;k 1,00,000
lEifŸk ij uxjikfydk dj pqdk;k 10,000
d`f”k vk; 10,000
nh?kZdkyhu iw¡th ykHk 15,000
dsjy jkT; ykWVjh ls buke 50,000
thou chek izhfe;e pqdk;k 10,000
lkoZtfud izkWfoMs.V Q.M esa va’knku 15,000
ØkloMZ iftYl ls vkdfLed vk; 1,200
The following are the particulars of Mr. X for the previous
year 2019-20. You are asked to compute his net taxable
liability or amount refundable as the case may be :

Business Income 5,56,900

Rent of Property 1,00,000
Municipal tax on property paid 10,000
Agricultural Income 10,000
Long-term capital gain 15,000
Lottery winning from Kerala State 50,000
Life Insurance premium paid 10,000
Contribution to public provident fund 15,000
Casual income from crossword puzzles 1,200
 [ 11 ] E–3053

bdkbZ&5
(UNIT—5)

5- ßdj fu;kstu dj cpkus dk ,d oS/kkfud ,oa uSfrd rjhdk gSAÞ bl

dFku dks le>kb,A
“Tax Planning is a legal and moral way of tax saving.”
Discuss the statement.

vFkok
(Or)

izR;{k djksa ds dsUnzh; cksMZ vFkok vk;dj dfe’uj ds vf/kdkjksa dk

o.kZu dhft,A
Describe the powers of Central Board of Direct Taxes or
Commissioner of Income Tax.

E–3053

P. T. O.