KRISTU JAYANTI COLLEGE BANGALORE (AUTONOMOUS)
ONLINE END SEMESTER THEORY EXAMINATON –JUNE/JULY 2020
COMPONENT – I
BBA VI SEMESTER
BBA176201: INCOME TAX II
Total Marks: 20
General Instructions:
Answer any FOUR questions from the following.
Each question carries FIVE marks.
1. The following are the particulars of Mr. Vimal (Resident, Age: 55) for the previous
year 2018-19. You are required to compute his taxable income and tax liability for the
A.Y 2019-20.
a. Winning from lottery ₹ 140000
b. Casual Income from crossword puzzles ₹ 2400
c. Long-Term capital gain ₹ 30000
d. Business Income ₹ 653800
e. Rent of property ₹ 20000
f. Municipal tax on property paid ₹ 1000 and interest on loan ₹ 1000
g. Life insurance premium paid ₹ 5000
h. Interest on education loan paid ₹ 5000
i. Donated to National fund for control of Drug Abuse ₹ 10000
2. Explain the Powers and Functions of Income Tax Officer.
3. What is assessment? Explain different types of assessment.
4. The Following information given in respect of Mr.X aged 57 years and is a resident of
India. Compute his taxable income and tax liability for the A.Y 2019-2020.
i) Pension per month ₹ 6750
ii) Interest on Saving Bank Deposit ₹10000.
iii) Dividend received on units of Unit Trust of India ₹8000.
iv) Income from business ₹300000
5. Explain the provision for set-off and carry forward of the following losses:
i) Loss from house Property
ii) Speculation business loss
iii) Short term capital loss.
