The following incomes were received by Mr A during the year 2021-22 : (1) Honorarium received for writing articles in magazines 10,000. (2) Income from agriculture abroad 25,000. (3) Ground rent from land in India 50,000. (4) Interest from POSB a/c 3,500.) Interest on deposits with Industrial Finance Corporation 2,500. (6) Dividend from foreign company 35,000. (7) Rent from letting of building along with plant 20,000 (Repairs to the above said plant 1,000). (8) Winning from horse race 20,000. (9) Interest on 1,20,000 10 % tax free debentures of a listed company in India. Calculate Income from other sources of Mr Arun for the previous year 2021-22. explain in details

Mr. A had the following incomes during the Previous Year 2020-21. (10 × 2 = 20) PART B Answer any six questions. Each question carries 5 marks. Interest on Bank deposits 4,000, Income from units of Mutual Fund 5,000, Interest on Govt Securities 8,000, Winnings from Lottery 10,000, Winnings from horse race 5,000. He claimed the following deductions: Collection charges of interest on Govt security by Bank 100, Expenses for buying lottery tickets 1,000. Compute income from other sources of Mr. A. explain in detailed

Mr. Murthy retired from bank on 31.03.21. He gives the following particulars of his income earned during the previous year : Rs. (a) Salary (after deducting tax on employment Rs. 2,000 and income tax Rs. 12,000) ... (b) Own contribution to recognised pension fund (c) Pension (d) Club bills paid by employer (e) Share of profit from a partnership firm (f) Share of profit from a HUF in which he is a member (g) Amount received as interest on Government securities ... ... ... ... ... ... 1,80,000 8,000 25,000 6,000 50,000 75,000 1,10,000 (h) Rent received from house property (i) (j) Municipal tax due on house property Long term capital gains ... ... ... 33,000 3,000 2,40,000 (k) Received winning from lottery of Government of Kerala ... 1,40,000 Compute total income and tax payable for the Assessment Year 2021-22 step by step

Mr. Babu purchases a piece of agricultural land in urban area in 2006-07 for Rs. 1,00,000. He was using it for agricultural purpose and in March 2021 he sold the same for Rs. 12,00,000. He purchases another piece of agricultural land immediately for Rs. 5,00,000 and deposited Rs. 3,50,000 in Capital Gains Accounts Scheme, 1988. Find out Capital Gains Taxable if any, for the year 2020-21. Cost Inflation Index : 2006-07 - 122, 2020-21 - 301.

Calculate (a) Net National Product at market price, and (b) Gross Domestic Product at factorcost: (6)S. No. Particulars Amount (in ₹ crores)(i) Rent and Interest 6,000(ii) Wages and Salaries 1,800(iii) Undistributed profit 400(iv) Net Indirect taxes 100(v) Subsidies 20(vi) Corporation tax 120(vii) Net factor income to abroad 70(viii) Dividends 80(ix) Consumption of fixed capital 50(x) Social Security contribution by 200employers200(xi) Mixed income 1,000

Q 18. The partners of a firm distributed the profits for the year ended 31st March, 2019, ₹90,000 in theratio of 3:2:1 without providing for the following adjustments:(i) A and B were entitled to a salary of 1,500 each per annum.(ii) B was entitled to a commission of 4,500.(iii) B and C had guaranteed a minimum profit of 35,000 p.a. to A.(iv) Profits were to be shared in the ratio of 3:3:2.Pass necessary journal entry for the above adjustments in the boo