AprilMay 2023 NM unique assignments The gross total incom

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Taxation- Direct and Indirect

1. Define and discuss any five income sources that do not form the part of the taxable income. Student can take suitable examples wherever required. (10 Marks)

2. Mr Bharat is a Central Government employee. Discuss the deductions and the extent of such deductions under section 16; he will receive from the gross salary income. (10 Marks)

3. The gross total income of Mrs Verma from all sources for the assessment year 2022-23 is Rs700000. She has made the following investments, as well as certain payments during the financial year 2021-22.

1. Contribution to PPF, Rs 145000
2. Payment made to Alfa coaching classes as private tuition fees for science classes Rs 15000
3. Repayment of housing loan taken from SBI, Rs 15000
4. Contribution towards approved pension fund of LIC, Rs 123000

a. Compute the eligible deduction amount under Section 80 C, 80CCC, 80CCE (5 Marks)

b. Discuss the relevant provisions as applicable under Section 80 C, 80CCC, 80CCE. (5 Marks)

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