BCOC-136 INCOME TAX LAW & PRACTICE
Solved Assignment 2021-2022
COURSE CODE : BCOC-136
COURSE TITLE : INCOME TAX LAW & PRACTICE
ASSIGNMENT CODE : BCOC-136/TMA/2021-22
COVERAGE : ALL BLOCKS
|Title Name||BCOC-136 Solved Assignment 2021-22|
|Service Type||Solved Assignment (Soft copy/PDF)|
|Semester||2021-2022 Course: B.Com(G) CBCS|
|Product||Assignment of BCOMG 2021-2022 (IGNOU)|
|Submission Date||December Term End Examination: 15th October|
June Term End Examination: 15th March
Note: Attempt all the questions.
(This section contains five questions of 10 marks each)
Q.1 Explain the procedure of Tax payment and Filing of return of
Q.2 Explain the provisions relating to Gratuity u/s 10 (10) and Commuted
pension u/s (10)10A.
Q.3 What is Annual Value? Explain the various deductions which are
allowed from annual value u/s 24.
Q.4 Explain the provisions relating to exemption of income for nonresident assessee.
Q.5 Discuss the provisions relating to Voluntary Retirement u/s 10 (10C) (10)
(This section contains five short questions of 6 marks each)
Q.6 Mr Amit came to India for the first time on July, 10, 2020 and stayed
up to February 28, 2021, Determine his residential status for the
assessment year 2021-22.
Q.7 Gita, Sita and Mita are partners of a firm with equal shares. The
profits and loss accounts for the year ended 31.3.21 shows a net profit
of Rs 99,750 after debiting the following as per deed
i. Salaries of Rs 17,000 and Rs 18,000 to Gita and Sita
ii. Bonus to Mita Rs 15,000
iii. Rs 5,000 for interest on Capital to Gita calculated @ 20%.
iv. Rs 15,000 for rent of the business premises paid to Sita.
v. Commission of Rs 5,000 to Mita.
Compute Book profit and the total income of the firm for the
assessment Year 2021-22, assuming that it is a professional firm and
all are working partners
Q.8 Explain the provision relating to ‘Profits in Lieu of Salary’ (6)
Q.9 What is the provision applicable for Additional deprecation on new
machinery or plant u/s section 32.
Q.10 Find out the taxable value of the Interest free/Concessional loan as
per rule 3(7) (i).
(This section contains two short questions of 10 marks each)
Q.11 Write short note:
a) Defective return u/s 139(9)
b) Deduction u/s80E
c) Entertainment allowance u/s 16 (ii)
d) Bond washing transactions
Q.12 Explain the following questions:
a) Provisions of rent free accommodation when accommodation is
provided by any other employer
c) Provisions relating to Income from assets transferred to daughter
in law u/s 64 (1) (vi)
d) Provisions relating to set off of losses from owning and
maintaining race horses u/s 74 A (3)
BCOC 136, BCOC136, BCOC-136