11. Mr. Jagat is an employee in accounts department of Bharat Ltd., a cellular company operating in the regions of eastern India. It is engaged in manufacturing of cellular devices. During F.Y. 2022-23, following transactions were undertaken by Mr. Jagat: (i) He attended a seminar on “Perquisite Valuation”. Seminar fees of ₹ 12,500 was paid by Bharat Ltd. (ii) Tuition fees of Mr. Himanshu (son of Mr. Jagat) paid to private coaching classes (not having any tie-up with Bharat Ltd.) was reimbursed by Bharat Ltd. Amount of fees was ₹ 25,000. (iii) Ms. Sapna (daughter of Mr. Jagat) studies in DPS Public School (owned and maintained by Bharat Ltd.). Tuition fees paid for Ms. Sapna was ₹ 750 per month by Mr. Jagat. Cost of education in similar institution is ₹ 5,250 per month. What shall be the amount which is chargeable to tax under the head “Salaries” in hands of Mr. Jagat for A.Y. 2023-24?

12. Mr. Karan completed his MBA in April 2022 and joined XYZ Ltd from 01.05.2022. His basic salary is ₹ 2,25,000 p.m. He is paid 12% of basic salary as D.A forming part of retirement benefits. He contributed 11% of his pay and D.A. towards recognized provident fund and the company contributes the same amount. Accumulated interest on provident fund as on 31.3.2023 is ₹ 49,325. What would be the income chargeable to tax under the head “Salaries” of Mr. Karan for the A.Y. 2023-24, if he does not opt for section 115BAC?

13. XYZ Pvt. Ltd. provides a car (below 1.6 ltr cc) along with a driver to Mr. Sanjay, employee of XYZ Pvt. Ltd., partly for official and partly for personal purpose. The expenses incurred by the company are: Running and maintenance expenses – ₹ 32,000 and driver’s salary – ₹ 36,000. The taxable value of car facility for A.Y. 2023-24 will be –

14. Mr. Raghav has three houses for self-occupation. What would be the tax treatment for A.Y.2023-24 in respect of income from house property?

15. Vidya received ₹ 90,000 in May, 2022 towards recovery of unrealised rent, which was deducted from actual rent during the P.Y. 2020-21 for determining annual value. Legal expense incurred in relation to unrealized rent is ₹ 20,000. The amount taxable under section 25A for A.Y. 2023-24 would be –

16. Mr. Vikas took a loan of ₹ 15,00,000 @10% p.a. on 1-4-2020 for the construction of residential house for self-occupation. The construction of the house began in June, 2020 and was completed on 30-6-2022. He has not repaid any amount of loan so far. The amount of interest deduction u/s 24(b) for A.Y. 2023-24 is –

17. Mr. X acquires an asset in the year 2016-17 for the use for scientific research for ₹ 2,75,000. He claimed deduction under section 35(1)(iv) in the previous year 2016-17. The asset was brought into use for the business of Mr. X in the P.Y.2022-23, after the research was completed. The actual cost of the asset to be included in the block of assets is –

18. Mr. C aged 35 years is a working partner in M/s BCD, a partnership firm, with equal profit sharing ratio. During the P.Y. 2022-23, the firm has paid remuneration to Mr. B, Mr. C and Mr. D, being the working partners of the firm, of ₹ 2,00,000 each. The firm has paid interest on capital of ₹ 1,20,000 in toto to all the three partners and the same is within the prescribed limit of 12%. The firm had a loss of ₹ 1,12,000 after debiting remuneration and interest on capital. Note – Remuneration and interest on capital is authorized by the partnership deed You, being the CA of Mr. C, are in the process of computing his total income. What would be his taxable remuneration from the firm?

19. Mr. Shahid, a wholesale supplier of dyes, provides you with the details of the following cash payments made throughout the year – • 12.06.2022: loan repayment of ₹ 27,000 taken for business purpose from his friend Kunal. The repayment also includes interest of ₹ 5,000. • 19.08.2022: Portable dye machinery purchased for ₹ 15,000. The payment was made in cash in three weekly instalments. • 26.01.2023: Payment of ₹ 10,000 made to electrician due to unforeseen electric circuit at shop. • 28.02.2023: Purchases made from unregistered dealer for ₹ 13,500. What will be disallowance under 40A(3), if any, if Mr. Shahid opts to declare his income as per the provisions of section 44AD?

20. Mr. A, an eligible assessee, following mercantile system of accounting, carrying on eligible business u/s 44AD provides the following details: ♦ Total turnover for the F.Y.2022-23 is ₹ 130 lakh ♦ Out of the above: ₹ 25 lakh received by A/c payee cheque during the F.Y.2022-23; ₹ 50 lakh received by cash during the F.Y.2022-23; ₹ 25 lakh received by A/c payee bank draft before the due date of filing of return; ₹ 30 lakh not received till due date of filing of return. What shall be the amount of deemed profits of Mr. A under section 44AD(1) for A.Y. 2023-24?