Bachelor of Commerce (B.Com) – INCOME TAX LAW & PRACTICE Solved Assignment Answer | BCOC 136 | 2021-2022

Free BCOC 136 Solved Assignment Answer | INCOME TAX LAW & PRACTICE | For July 2021 – June 2022

IGNOU BCOC 136 Solved Assignment, This assignment is the curriculum of the Bachelor of Commerce (B.Com) program. For other courses, students check our website categories section to find their courses and assignments over there.

BCOC 136 INCOME TAX LAW & PRACTICE Solved Assignment 2021-2022

IGNOU BCOC 136 INCOME TAX LAW & PRACTICE assignment is 100 marks. There are only three sections – A, B, & C. Students have to answer all the questions. Download IGNOU BCOC 136 Assignment free without any registration, Students can easily download the IGNOU assignment question paper from the official website of the university. They are not required to pay any fees or charges for this.

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The answer of BCOC 136 | INCOME TAX LAW & PRACTICE | Solved Assignment 2021-2022:

Note: Attempt all questions. The marks for each question are indicated against it.

Section-A (This section contains five questions of 10 marks each)

1. Explain the procedure of Tax payment and Filing of return of Income.

2. Explain the provisions relating to Gratuity u/s 10 (10) and Commuted pension u/s (10)10A.

3. What is Annual Value? Explain the various deductions which are allowed from annual value u/s 24.

4. Explain the provisions relating to exemption of income for the non-resident assessee.

5. Discuss the provisions relating to Voluntary Retirement u/s 10 (10C).

Section-B (This section contains five short questions of 6 marks each)

6. Mr Amit came to India for the first time on July, 10, 2020 and stayed up to February 28, 2021, Determine his residential status for the assessment year 2021-22.

7. Gita, Sita and Mita are partners of a firm with equal shares. The profits and loss accounts for the year ended 31.3.21 shows a net profit of Rs 99,750 after debiting the following as per deed
i. Salaries of Rs 17,000 and Rs 18,000 to Gita and Sita respectively
ii. Bonus to Mita Rs 15,000
iii. Rs 5,000 for interest on Capital to Gita calculated @ 20%.
iv. Rs 15,000 for rent of the business premises paid to Sita.
v. Commission of Rs 5,000 to Mita.
Compute Book profit and the total income of the firm for the assessment Year 2021-22, assuming that it is a professional firm and all are working partners.

8. Explain the provision relating to ‘Profits in Lieu of Salary’.

9. What is the provision applicable for Additional deprecation on new machinery or plant u/s section 32.

10. Find out the taxable value of the Interest-free/Concessional loan as per rule 3(7) (i).

Section-C (This section contains two short questions of 10 marks each)

11. Write a short note:
a) Defective return u/s 139(9)
b) Deduction u/s80E
c) Entertainment allowance u/s 16 (ii)
d) Bond washing transactions

12. Explain the following questions:
a) Provisions of rent-free accommodation when accommodation is provided by any other employer
b) CBDT
c) Provisions relating to Income from assets transferred to daughter in law u/s 64 (1) (vi)
d) Provisions relating to set off of losses from owning and maintaining race horses u/s 74 A (3)

Wrapped Up

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