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B) State whcther thc following statemcnts arc Truć or False (Aay 7)

1.    Ir.tercst on deposits of forcign company rcceivcd in London by ordinarily resident individual is fully taxablc.

2.    Residcntial status does not depcnd upon citlzcnship.

o^c

3.    Dividcnd receivcd from Dcna Bank is fully exempt.

4.    Life insuiaace prcmium paid by cmploycr on behalf of an employce is a taxable ^ perąuisitc.

5.    Maximum dcduction for interes! on saving bank u/s80TTA is limited to 1O.OOj^³

6.    An Indian company necd not always be resident in India.

7.    Entertainment ailowance reccived by a non govcmmcnt employee is cxemnfl^oni lax.

8.    Advance salary reccived by an employee from thecmploycr is not a tóoof Gross Salaiy.

9.    Mediclaim prcmium paid by cash r 15000 is allowed es deductigStt's 80D

10.    Dcduction u/s 80 C in respect of payment of lifc insurancc pre^um, PPE etc. is also allowed to partnership firras.

2.    Mr. Bipin Sawant aged 62 ycars givcs you thc followij^Sfonnation for the ycar ended 15

on 31st March. 2015.

Basic Salary (Net)    Rs. 60000 per month

Deamess ailowance @ 30% of Basic Salary    ^

Rs. 1,00,000 Rs. 40,000 Rs. 36.000 Rs. 2,00,000 Rs. 48000

Ex-gratiaReccivcd    .<3^

Bonus (Dcclarcd)

/O

Advancc against Sałaty    &

Recognized Provident Fund dcduęt^f¹ from basie salary for thc ycar

Other Information :

Winntngs from lottcry y-

Expcnses on purchas^yf iottery tickets

Dividend from Ta^J^otors Ltd. on 2000 prcfcrencc shares.at

lnterest on savi^^ank account with Saraswat Co.op Bank Ltd.

/ .

Entertainment Ailowance

Rs. 50.000 Rs. 2,000 Rs. lOpcrshare Rs. 12000

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