Can you do the f-2 part all questions please thanks
Answers
Answer:
DIRECT TAX UN
V110
Q. No. 12
The following are the particulars of the income of a professor of Kolkata University:
(1) Salary 7 37,400 p.m. plus ? 10,000 p.m, as grade pay from which 10% is deducted for provident for
to which university also contributes 12%.
(ii) Wardenship allowance + 2,000 p.m. and dearness allowance @ 55% of salary.
(iii) Rent-free bungalow of which the letting value is * 10,000 p.m.
(iv) 8% dividend on 50 shares of 100 each in a Limited Company.
(V) 10% interest on Government Loan of 25,000.
(vi) Income from interest on Bank Deposits (Saving A/c) * 400.
(vii) Income from property let, * 7,200 (Computed).
(viii) Profit on sale of shares (Short term) * 25,000
(ix) Income from royalty on copyright of his work, * 9,000
(x) Examinership remuneration, * 3,700.
(xi) He paid 30,000 as donation to Family Planning Association of India
(xii) He paid by cheque 10,000 to G.I.C. under mediclaim.
(xiii
) During the previous year he deposited 20,000 in PPF A/c of his minor daughter.
During the year, he paid * 39,500 as life insurance premium of which 500 was paid on a joint life poi
He maintains a car for going and coming from the University. Population of Kolkata is more than 25 las
Find out his total income and exempted income.
[Hints : Salary Income *9.94,564 : House Property * 7,200, S.T. Capital Gain 25,000 : other souse
15,600, G.TÍ * 10,42,364, Deduction u/s 80C * 1,16,380, u/s 800 * 10,000 u/s 80G 3 30,000 uls B077
400 Total Income 8,85,584)
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