ULTIMATE CA CA INTER INCOME TAX TEST - 2

CA – INTER
TEST – 2 Chapter – Basic & Residential Marks - 30
Question 1. Compute the tax liability of Mr. B (aged 51), having total income of Rs.
1,01,00,000 for AY 2024-25. Assume that his total income comprises of salary income, Income
from house property & interest on fixed deposit. Assume that Mr. B has not opted for the
provisions of section 115BAC.

Question 2. Compute the tax liability of Mr. X (aged 61), having total income of Rs.
5,01,00,000 for AY 2024-25. Assume that his total income comprises of PGBP Income
2,51,00,000 , Income from house property 50,00,000, STCG 51,00,000, LTCG 112A
1,01,00,000 & Balance Income is Casual Income. Assume that Mr. B has not opted for the
provisions of section 115BAC.

Question 3. Compute the tax liability of Mr. Binod (aged 65), having total income of Rs.
6,90,000 for AY 2024-25. Assume that his total income comprises of salary income 1,50,000,
LTCG 112 1,80,000, SCCG 111A 1,50,000 & Casual Income 2,10,000. Assume Mr. B has
been opted for the provisions of section 115BAC.

Question 4. Mr. Ramesh & Mr. Suresh are brothers & they earned the following incomes
during the financial year 2023-24. Mr. Ramesh settled in Canada in the year 1997 & Mr. Suresh
settled in Delhi. Compute the total income for the A.Y. 2024-25.
Sr. Particulars Mr. Ramesh Mr. Suresh
No.
1. Interest on Canada Development Bonds (only 50% of Rs. 35,000 Rs. 40,000
interestreceived in India)
2. Dividend from British company received in London Rs. 28,000 Rs. 20,000
3. Profits from a business in Nagpur, but managed directly Rs. 1,00,000 Rs. 1,40,000
fromLondon
4. Short term capital gain on sale of shares of an Rs. 60,000 Rs. 90,000
Indiancompany received in India
5. Income from a business in Chennai Rs. 80,000 Rs. 70,000
6. Fees for technical services rendered in India, but Rs. 1,00,000 ----
receivedin Canada
7. Interest on savings bank deposit in UCO Bank, Delhi Rs. 7,000 Rs. 12,000
8. Agricultural income from a land situated in Andhra Rs. 55,000 Rs. 45,000
Pradesh
9. Rent received in respect of house property at Bhopal Rs. 1,00,000 Rs. 60,000
(Computed)
10. Life insurance premium paid --- Rs. 30,000
Note: All above Incomes are computed Income

Question 5. The business of a HUF is transacted from Australia & all the policy decisions are
taken there. Mr. E, the Karta of the HUF, who was born in Kolkata, visits India during the P.Y.
2023-24 after 15 years. He comesto India on 1.4.2023 & leaves for Australia on 1.12.2024.
 ULTIMATE CA CA INTER INCOME TAX TEST - 2

Determine the residential status of Mr. E & the HUFfor A.Y. 2024-25.