IGNOU| ELEMENTS OF INCOME TAX (ECO - 11)| QUESTION PAPER – (DEC - 2023)| (BDP)| ENGLISH MEDIUM
BACHELOR'S DEGREE PROGRAMME (BDP)
Term-End Examination
December - 2023
(Elective Course: Commerce)
ECO-11
ELEMENTS OF INCOME TAX
Time: 2 Hours
Maximum Marks: 50
Note: Question No. 1 is compulsory. Attempt any three
questions from the remaining questions.
हिंदी माध्यम: यहां क्लिक करें
1. Compute taxable income of Shri Pankaj Lathar for the assessment year 2022-23: 14
(i) Income of
business (including Rs. 25,000 received as compensation for termination of an
agency) - 80,000
(ii) Interest on
Government Securities (net) - 1,500
(iii) LTCG on
sale of a machine - 16,000
(iv) Income
received from units of UTI - 2,000
(v) Interest
received on fixed deposit in a firm - 3,000
2. (a) Distinguish between agricultural income and
partly agricultural income with example. 8
(b) When is an
individual treated as a ‘resident' in India? 4
3. Compute Residental status as per the provisions of
Income Tax Act for an individual, if he is: 4×3=12
(a) Resident
(b) Not
ordinarily Resident
(c) Non-Resident
4. (a) Mr. Madhur is getting a pension of ₹ 4,000 per
month from a company. During the previous year, he got two-third pension
commuted and received ₹ 1,86,000. Compute the exempted amount; if (i) he also
received gratuity (ii) he did not received gratuity for the assessment year
2022-23. 8
(b) What are the
provisions for calculating house rent allowance? 4
5. What do you mean by Clubbing of Income? In what
circumstance is the income of one person treated as income of another? Write
the provisions relating to clubbing of income of a minor child. 4+4+4
6. Write short notes on any two of the following: 6+6
(a) Deemed owner
of House Property
(b) Deduction
under Section 80 G
(c) Composite
rent
(d) Voluntary
Retirement
***
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