DT test No.
3 on Chapter 1(including Agriculture income)
Total (15 Mks paper) each question is for 1 mark.
Time to solve the paper 30 mins.
Q1. Mr. Pawan aged 35 years and a resident in India, has a total income of
Rs. 7,15,000, comprising his salary income and interest on bank fixed
deposit. Compute his tax liability for A.Y.2025-26 under default tax regime
under section 115BAC.
Q2. Mr. Raghav aged 26 years and a resident in India, has a total income
of
6,50,000, comprising his salary income and interest on bank fixed deposit.
Compute his tax liability for A.Y.2025-26 under default tax regime under
section 115BAC.
Q3. Compute the tax liability of Mr. D (aged 65) in a most beneficial
manner. He is having total income of ` 5,01,00,000 for the Assessment
Year 2025-26. Assume that his total income comprises of salary income,
Income from house property and interest on fixed deposit and is the same
under both tax regimes.
Q.4. Compute the tax liability of Mr. C (aged 58), having total income of
2,01,00,000 for the Assessment Year 2025-26. Assume that his total
income comprises of salary income, Income from house property and
interest on fixed deposit. Assume that Mr. C has exercised the option to
shift out of section 115BAC.
Q.5. Compute the tax liability of Mr. A (aged 42), having total income of `
51 lakhs for the Assessment Year 2025-26. Assume that his total income
comprises of salary income, Income from house property and interest on
fixed deposit. Assume that Mr. A has exercised the option to shift out of
section 115BAC
Q.6. Mr. X has a total income of ` 16,00,000 for P.Y.2024-25, comprising of
income from
house property and interest on fixed deposits. Compute his tax liability for
A.Y.2025-26 assuming his age is –
(a) 45 years
(b) 63 years
(c) 82 years
Assume that Mr. X has exercised the option to shift out/ opt out of the
default tax regime.
Q.7 Mr. X has a total income of ` 16,00,000 for P.Y.2024-25, comprising of
income from house property and interest on fixed deposits. Compute his
tax liability for A.Y.2025-26 under the default tax regime under section
115BAC.
Q.8 Mr. C manufactures latex from the rubber plants grown by him in
India. These are then sold in the market for ` 30 lakhs. The cost of
growing rubber plants is ` 10 lakhs and that of manufacturing latex is ` 8
lakhs. Compute his total income.
Q.9 Mr. Sharma aged 62 years and a resident in India, has a total income
of
` 2,30,00,000, comprising long term capital gain taxable @12.5% under
section 112 of ` 52,00,000, short term capital gain taxable @20% under
section 111A of ` 64,00,000 and other income of ` 1,14,00,000. Compute
his tax liability for A.Y.2025-26 under the default tax regime and optional
tax regime as per the normal provisions of the Act assuming that the total
income and its components are the same in both tax regimes.
Q.10. Mr. Agarwal, aged 40 years and a resident in India, has a total
income of 6,50,00,000, comprising long term capital gain taxable @20%
under section 112 of` 55,00,000, short term capital gain taxable @15%
under section 111A of ` 65,00,000 and other income of ` 5,30,00,000.
Compute his tax liability for A.Y.2025-26 under the default tax regime and
optional tax regime as per the normal provisions of the Act assuming that
the total income and its components are the same in both tax regimes.
Q.11. Compute the tax liability under default tax regime of Mr. Kashyap
(aged 35), having total income of ` 51,75,000 for the Assessment Year
2025-26. Assume that his total income comprises of salary income,
income from house property and interest on fixed deposit.
Q.12 Mr. Raja, a resident Indian, earns income of ` 10 lakhs from sale of
coffee grown and cured in India during the A.Y.2025-26. His friend, Mr.
Shyam, a resident Indian, earns income of ` 20 lakhs from sale of coffee
grown, cured, roasted and grounded by him in India during the A.Y.2025-
26. What would be the business income chargeable to tax in India of Mr.
Raja and Mr. Shyam?
Q.13 Mr. Sumit, a resident Indian, earns income of ` 15 lakhs from sale of
rubber manufactured from latex obtained from rubber plants grown by
him in India and ` 20 lakhs from sale of rubber manufactured from latex
obtained from rubber plants grown by him in Malaysia during the
A.Y.2025-26. What would be his business income, assuming he has no
other business?
Q.14 Whether the income derived from saplings or seedlings grown in a
nursery is taxable under the Income-tax Act, 1961? Examine
Q.15 Who is an “Assessee”? Explain
