Computation of total income and Tax liability – Test 1

The normal tax rates applicable to a resident individual will depend on the _________.

For the assessment year 2019-20, the basic exemption limit in case of a resident individual of the age of below 60 years is Rs. ___________

For the assessment year 2019-20, the basic exemption limit in case of a resident individual of the age of 60 years or above but below 80 years is Rs. ___________.

For the assessment year 2019-20, the basic exemption limit in case of a resident individual of the age of 80 years or above is Rs. ___________.

For the assessment year 2019-20, the basic exemption limit in case of a non-resident individual irrespective of his age is Rs. ___________.

For the assessment year 2019-20, the basic exemption limit in case of a Hindu Undivided Family is Rs. ___________.

In the case of an individual, surcharge @ ___ is levied on the amount of income-tax if total income exceeds Rs._________

A resident individual, whose total income does not exceed Rs. 3,50,000 is eligible for rebate under section 87A. The amount of rebate is income tax payable or Rs. _______, whichever is less.

As per section 115BBE, any cash credit found in the books of the assessee which remains unexplained shall be charged to tax at a flat rate of __________ (plus surcharge and cess as applicable).

“Health and Education cess (HEC)” is to be calculated at the rate of __________of income-tax and surcharge.

The gross total income of Mr. X, a resident aged 30 years, comprises of salary (Rs.3,85,000) and interest on savings bank (Rs.8,000). Compute his tax liability, assuming that he had deposited Rs.50,000 in public provident fund.

Mr. X, resident, 35 years, has only income from business:- Rs.12,00,000. Compute his tax liability.

The gross total income of Mr. X, a resident aged 30 years, comprises of business income (Rs.11,50,000) and Long term capital Gain (Rs.1,00,000). Compute his tax liability, assuming that
he had deposited Rs.50,000 in public provident fund.

Mr. X, resident, 35 years, has only income from business:- Rs.3,40,000. Compute his tax liability.

The gross total income of Mr. X, a resident aged 30 years, comprises of business income (Rs.2,70,000) and Long term capital Gain (Rs.1,00,000). Compute his tax liability, assuming that
he had deposited Rs.30,000 in public provident fund.

The gross total income of Mr. X, a resident aged 62 years, comprises of pension income
(Rs.90,000) and Long term capital Gain (Rs.10,00,000). Compute his total income assuming that he had deposited Rs.70,000 in public provident fund and paid life insurance premium on his own life Rs. 82,000

The gross total income of Mr. X, a resident aged 62 years, comprises of pension income (Rs.90,000) and Long term capital Gain (Rs.10,00,000). Compute his tax liability assuming that he
had deposited Rs.70,000 in public provident fund and paid life insurance premium on his own life Rs. 82,000

The gross total income of Mr. X, a resident aged 35 years, comprises of business income
(Rs.10,50,000) and Long term capital Gain u/s. 112 A (Rs.2,00,000). Compute his tax liability assuming that he had deposited Rs.70,000 in public provident fund and paid life insurance
premium on his own life Rs. 82,000

The gross total income of Mr. X, a resident aged 26 years, comprises of short term capital gain (Rs.4,22,000) and short term capital Gain u/s. 111 A (Rs.1,20,000). Compute his tax liability
assuming that he had deposited Rs.12,000 in public provident fund.

The gross total income of Mr. X, a resident aged 22 years, comprises of business income (Rs.1,52,000) and short term capital Gain u/s. 111 A (Rs.1,48,000). Compute his tax liability
assuming that he had deposited Rs.10,000 in public provident fund.

Mr. X, resident, has only income by way of winning from lottery:- Rs.50,000. Compute his tax liability assuming that there is no tax was deducted at source.

During the previous year, Mr. KJ Shah, 28 years, resident , earned business income of Rs.3,10,000 and Rs. 30,000 under the head “Income from other sources”. He also earned agriculture income
of Rs. 5,00,000. Compute his tax liability.

During the previous year, Mr. KJ Shah, 28 years, resident , earned business income of Rs.3,10,000 and Rs. 30,000 under the head “Income from other sources”. He also earned agriculture income
of Rs. 10,00,000. Compute his tax liability.

During the previous year, Mr. Mahesh, 35 years, resident, earned business income of Rs.4,20,000
and Rs.2,80,000 under the head “Income from other sources”. He also earned agriculture income of Rs. 4,00,000. Compute his tax liability assuming that he is eligible for deduction under section
80C of Rs. 22,000

During the previous year, Mr. Ganesh, 24 years, resident, earned business income of Rs.1,40,000 and agriculture income of Rs. 5,60,000. Compute his tax liability.

During the previous year, Mr. Kartikey, 31 years, resident, earned business income of Rs.5,00,000 and agriculture income of Rs. 5,000. Compute his tax liability.

During the previous year, Mr. X, 40 years, resident, earned business income of Rs.1,50,000, LTCG Rs. 1,80,000 and agriculture income of Rs. 10,00,000. Compute his tax liability.