KEMBAR78
Law of Direct Taxation Unit III Problem Set 2 | PDF
Scribd
Upload
100 views1 page

Law of Direct Taxation Unit III Problem Set 2

This document contains 3 problems related to calculating tax liability in India for the assessment year 2017-2018. Problem 1 asks to calculate the tax liability of Mrs. Amrisha based on her salary income of Rs. 9,78,000, other income of Rs. 18,142, contributions to her recognized provident fund and a donation to the Prime Minister's Relief Fund. Problem 2 asks to calculate the tax liability of Azaad who received a car worth Rs. 6,50,000 from his credit card company, has a salary income of Rs. 8,45,000 and made contributions to his public provident fund, national savings certificates and a health insurance policy. Problem 3 asks to

Uploaded by

ABHIJEET
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
100 views1 page

Law of Direct Taxation Unit III Problem Set 2

This document contains 3 problems related to calculating tax liability in India for the assessment year 2017-2018. Problem 1 asks to calculate the tax liability of Mrs. Amrisha based on her salary income of Rs. 9,78,000, other income of Rs. 18,142, contributions to her recognized provident fund and a donation to the Prime Minister's Relief Fund. Problem 2 asks to calculate the tax liability of Azaad who received a car worth Rs. 6,50,000 from his credit card company, has a salary income of Rs. 8,45,000 and made contributions to his public provident fund, national savings certificates and a health insurance policy. Problem 3 asks to

Uploaded by

ABHIJEET
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 1

Law of Direct Taxation

Unit III
Problem Set 2

1. Mrs. Amrisha whose date of birth is 30th March 1956 has a total salary income of Rs.
9,78,000 for the previous year 2016-17. She has income from other sources of Rs.
18,142 from her savings bank account. Her only investments are contributions to
Recognised Provident Fund account which are 12% of her basic salary of 40,000 per
Month. She also made a contribution of Rs. 30000 to the Prime Minister's Relief fund.
Find her tax liability for AY 2017-18.

2. Azaad, aged 45 years, was awarded a car of market value Rs. 6,50,000 by his credit
card company in a draw on 20th December 2016. There was no TDS by the company.
He has total income from salary of Rs. 8,45,000 in the previous year 2016-17. Azaad
contributed Rs. 1,00,000 to his public provident fund account and invested Rs. 1,00,000
in National Savings Certificates. He also took a health insurance policy on himself of Rs.
50000. Find his tax liability for AY 2017-18?

3. Mukil, a lawyer, earned profits of Rs. 10,00,000 from his practice in 2016-17. Mukil made
the following investments/ contributions in 2016-17:
a. Rs. 200000 as LIC premium for his Life insurance
b. Rs. 20000 each for medical insurance for his father, mother, wife, son and
brother.
c. Rs. 10000 as interest on educational loan taken for his LL.M.
d. Rs. 10000 as contribution to his local political party in cash.
e. Rs. 20000 as premium on National Pension Scheme
f. Rs. 100000 as contribution to Association of Law Universities, an unregistered
charity
g. Rs. 200000 as contribution to the Tamil Poetry Development Society, a
registered charity.
h. Rs. 40000 as donation to the Prime Minister's Relief Fund.
Find his tax liability for AY 2017-18?

You might also like