5568303695

Con. 6980-MN-9761-13.    4

3. (A) Mr.KK.Jtfi Indian citizcnfurnishcs the following porticularsof his income caroedduring the    8

prcvious >«ar relevant to the assessment year 2013-14.

0) Pension from a former employer in India, rcceised in Nepal 7 50,000.

00 Profit on sale of property in Milaysia 7 30.000 received in Malaysia.

(iii) Dividcodł from American company reccived in India 738,000.

fiv) Profit earncd from a business in Paris which is concrolled from India 7 80,000.

(v) Past untaxcd foreign ir.comc brought in India 7 35.200.

Compute his tołal income for the Assessment Year 2013-14 assuming he is:

(i) Residenl and Ordinary Resident

(5) Resident but not Ordinary Resident (id) Non- Resident in India

(B) Mr.Hemant a resident of USA carac to Indio for the first limę on I st May, 2004. He stayed 7 herc witbout break for 3 years and left for Japan on 1 st May, 2007. He returncd to India on Ist Apri!, 2008 and went back to USA on Ist Deeember, 2008. He was posted back to India on 20th January. 2013 and has bcen in India sińce then

Detcrminc his residentiai status for the previous year cr.dcd on 3 Ist Marcb, 2013 giving exp!anation for your answer.

4. (A) State whether followir.g statement arc True or Falsc:—    8

(1) Any income accrucd or arised in India is notable in the hands of Non- resident.

. (2) Anyexpensepjadincashinoneinstallmentabove720.000isalk>wedtobc(ieductible while computing taxable income from business.

(3)    Expcnses inairTcd on transfer of Capital assetaredcductcd while calculaiing Income from Capital Gain.

(4)    l>ividcnd declared by Unit Trust of India is taxablc in the hands of sharcboldcrs.

(5)    Rcser. cs and contingencics are allowcd as dcduction from business income.

(6)    Goodwill of a business is treated as Capital asset for the purposc of Capital gain.

(7)    Unrcalizcd rent recosercd is dcdocted from net annual valuc of house property.

(8)    Taxable income of an individual is determined on the bosis of citizenship.

Column A	(olomnb-
(1)    An Indian Company (2)    Va!ueofrcnt-frccaccommodation (3)    Mumbai Port Trust (4)    Salary rcceived (5)    Entertainment allowance (6)    Special bearer bonds. 1991 (7)    Dividcnd from Indian company	(a)    Artificial Juridical person (b)    Income (c)    Dedoclion U/S 16 (d)    not a capiul asset (e)    Capital asscts (0 exempt income (g) Always resident (b) taxablc perquisite

OR

(B) Mnich the column_ 7

4. Writcshort notes (any three):—    15

(a)    Deductions from Gross Total Income.

(b)    Income excmpt under Section 10.

(c)    Taxabilityofpension.

(d)    Tasabilityofrcccipis without considcration

S