B.B.A. (Three Year) DEGREE EXAMINATION, OCTOBER 2018.
End Semester Examination
Fifth Semester
(Regular/ Supplementary)
Paper III TAXATION
2 C 5403
Time 3 Hours Max. Marks 70
PART — A
Answer any FIVE of the following. 4 20 Marks)
1. Previous year and assessment year.
2. Non-resident.
3. Tax Free perquisites.
4. Block of Assets.
5. Long term and Short term assets.
6. Provisions relating to set off and carry forward of loss from house property and
speculation business.
7. Provisions relating to deductions under section 80D of income tax Act.
8. Tax Treatment of house rent allowance.
PART — B
Answer the following questions. 10 50 Marks)
UNIT I
9. Explain about the determination of Residential status of an Individual.
Or
Give the examples of Non-agricultural incomes.

UNIT II
10. Explain about various kinds of provident fund and its tax treatment.
Or
From the following information, compute taxable income of Smt. Rajani for
the previous year ended 31st March 2016.
Actual rental value 52,200 per month
Standard rent 52,300 per month
Fair rental value 52,000 per month
Municipal value 52,200 per month
Municipal taxes of Municipal value
Municipal taxes paid by owner 80%
Municipal taxes due 20%
Interest on loan taken for purchase a motor car for personal use 54,000
Fire insurance premium 4,400
Garden maintenance charges 12,000
UNIT III
11. State the examples of Business Incomes.
Or
From the following statement of profit and loss for the year ended 31st March
2017, ascertain the taxable business income of Sri Prakash for the
Assessment year 2017-18.
Salaries 9,20,000 Gross profit B/F 28,80,000
Rent 2,44,000 Interest on bank deposits 42,000
Depreciation 1,76,000 Profit on sale of furniture 38,000
Provision for tax 22,000 Gift from parents 80,000
Bad debts 38,000
GST 41,000
Customs duties 52,000
Sri Prakash's salary 2,20,000
Life insurance premium 88,000
Drawings 4,84,000
Goodwill written off 12,000
Audit fees 50,000
Transfer to general reserve 2,50,000
Net profit c/d 4,47,000
30,44,000 30,40,000
Adjustment:
Depreciation of per Income tax Act 1,50,000.
UNIT IV
C 5403
3
12. Explain about the Exemptions from Capital gains under section 54 of income
tax Act.
Or
From the following particulars compute capital gain/loss for the year ended
31st March, 2016.
Date of purchase of house property 15.11.2005
Cost of purchase of house property 9,50,000
Cost of addition in 2007 2,30,000
Sale proceeds in 2015-2016 45,00,000
Commission on sale
3,00,000 deposited on 05.04.2016 in capital gains Account Scheme.
Year CII
2005-06 497
2007-08 551
2015-16 1081.
UNIT V
13. Write about the provisions applicable in respect of set off and carry forward of
loss from Business. Capital gains and income from other sources.
Or
Mr.Kartik has given the following informations for the year ended 31st March
2017. Compute his total taxable income for the year ended 31st March 2017.
Income from salary (computed) 5,20,000
Loss from house property 1,32,000
Profits from Restaurant 2,45,000
Loss from footware business 2,10,000
Short term capital gain 70,000
Long term capital loss 58,000
Un absorbed depreciation for the year 2014-2015 27,000
Winning from gambling 74,000
Loss from debts 50,000
Loss from speculation business P1 88,000
Profits from speculation business P2 66,000
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