{"id":11818,"date":"2020-02-21T22:46:12","date_gmt":"2020-02-21T22:46:12","guid":{"rendered":"https:\/\/www.inspirenignite.com\/vtu\/15cp62t-income-tax-practice-office-mgmt-6th-sem-syllabus-for-diploma-dte-karnataka-c15-scheme\/"},"modified":"2020-02-21T22:46:12","modified_gmt":"2020-02-21T22:46:12","slug":"15cp62t-income-tax-practice-office-mgmt-6th-sem-syllabus-for-diploma-dte-karnataka-c15-scheme","status":"publish","type":"post","link":"https:\/\/www.inspirenignite.com\/vtu\/15cp62t-income-tax-practice-office-mgmt-6th-sem-syllabus-for-diploma-dte-karnataka-c15-scheme\/","title":{"rendered":"15CP62T: Income Tax Practice Office Mgmt 6th Sem Syllabus for Diploma DTE Karnataka C15 Scheme"},"content":{"rendered":"

Income Tax Practice detail DTE Kar Diploma syllabus for Modern Office Management (MM), C15 scheme is extracted from DTE Karnataka<\/a> official website and presented for diploma students. The course code (15CP62T), and for exam duration, Teaching Hr\/week, Practical Hr\/week, Total Marks, internal marks, theory marks, duration and credits do visit complete sem subjects post given below. The syllabus PDFs can be downloaded from official website.<\/p>\n

For all other office mgmt 6th sem syllabus for diploma c15 scheme dte karnataka you can visit Office Mgmt 6th Sem Syllabus for Diploma C15 Scheme DTE Karnataka Subjects<\/a>. The detail syllabus for income tax practice is as follows.<\/p>\n

Pre-requisites:<\/h4>\n

Knowledge of Business and Economics
\nSEE- 100 Marks\n<\/p>\n

Course Objectives:<\/h4>\n

The students shall be able to:<\/p>\n

    \n
  1. Understand the Basic concepts of Income Tax<\/li>\n
  2. Compute Taxable income from Different Heads<\/li>\n
  3. Fill up and file the Returns of Income with authorities concerned.<\/li>\n<\/ol>\n

    Course Outcomes:<\/h4>\n

    For complete syllabus and results, class timetable and more pls download iStudy Syllabus App<\/a>.<\/b> Its a light weight, easy to use, no images, no pdfs platform to make students life easier.<\/p>\n

    Unit 1: INTRODUCTION AND OVERVIEW OF INCOME TAX:
    \n<\/h4>\n

    Meaning – Nature – Importance of Income Tax – Basic Concepts – Total Income – Casual Income – Person Assessee – Assessment Year – Previous Year – Gross Total Income and Taxable Income. Residential Status of an Individual -Tax Liability -Income Exempted from Tax -Fully Exempted Income and Partially Exempted Income.\n<\/p>\n

    Unit 2: COMPUTATION OF INCOME FROM SALARY & TAX LIABILITY :
    \n<\/h4>\n

    Meaning of Salary – Scope of Salary – Allowances -fully taxable-partly taxable-fully exempted-Perquisites -Exempted-Taxable perks (Valuation of RFA-Motor Car-Domestic servants)- Profits in Lieu of Salary – Provident Fund – Kinds – Important Provisions -gratuity-pension-leave salary- Allowable Deductions under the Head “Salary” – Simple Problems on Calculation of Taxable Income from Salary.\n<\/p>\n

    Unit 3: INCOME FROM HOUSE PROPERTY:<\/p>\n

    For complete syllabus and results, class timetable and more pls download iStudy Syllabus App<\/a>.<\/b> Its a light weight, easy to use, no images, no pdfs platform to make students life easier.<\/p>\n

    Unit 4: INCOME FROM BUSINESS:
    \n<\/h4>\n

    Meaning and Definition of Business, Profession -Vocation -Expenses Expressly Allowed -Allowable Losses -Expenses Expressly Disallowed -Expenses Allowed on Payment Basis Problems on Business relating to Proprietary concerns only)\n<\/p>\n

    Unit 5: COMPUTATION OF TOTAL INCOME:
    \n<\/h4>\n

    Deduction in Computing Taxable Income: Section 80C-80CCC-80CCD-80E-80D-80G-80GG-Income Tax authorities-Assessment procedure-Filing of returns-PAN.\n<\/p>\n

    Text Books:<\/h4>\n

    For complete syllabus and results, class timetable and more pls download iStudy Syllabus App<\/a>.<\/b> Its a light weight, easy to use, no images, no pdfs platform to make students life easier.<\/p>\n

    Model Question Paper:<\/h4>\n

    PART – A<\/b><\/p>\n

    (Answer any SIX Questions)<\/p>\n

      \n
    1. Define the term “person” & “Assessee.<\/li>\n
    2. Define the term “Income”. List any five Exempted Income.<\/li>\n
    3. Define the term “Allowances”. List any five Fully taxable allowances.<\/li>\n
    4. State and explain the provisions for the treatment of House rent Allowance<\/li>\n
    5. Define the term “Business” . List any five non business Expenses.<\/li>\n
    6. State and explain the Basic and additional conditions for determination of the residential status of an Individual.<\/li>\n
    7. Define the term “Gross Total Income”. List the various Heads of Income as per Income tax Act.<\/li>\n
    8. List the Savings eligible for deductions under section 80C.<\/li>\n
    9. State the different rates of Income tax for various Individual Assessee for the Assessment year 2016-17<\/li>\n<\/ol>\n

      PART-B<\/b><\/p>\n

      (Answer any FOUR Questions)<\/p>\n

        \n
      1. From the following particulars compute taxable income from salary of Mr. X for the assessment year 2016-17.<\/li>\n
          \n
        1. Basic salary Rs 60000\/- per month.<\/li>\n
        2. Dearness allowance 50 % of basic salary.<\/li>\n
        3. House rent allowance 30% of combined basic salary and DA.<\/li>\n
        4. Children education allowance @ Rs 500\/- per month per child for his two children.<\/li>\n
        5. Hostel allowance for his elder child Rs 800\/- per month.<\/li>\n
        6. Project allowance of Rs 15000\/- per month for three months.<\/li>\n
        7. During the financial year 2015-16. He had paid a professional tax of Rs 500\/-.<\/li>\n
        8. During the year his employer as contributed 15% of his salary towards recognised provident fund.<\/li>\n
        9. The amount of interest credited to his recognised provident fund was Rs 15000\/- @ 15%.<\/li>\n
        10. He had the following savings during the year<\/li>\n
            \n
          1. Contribution to recognised provident fund Rs 5000\/- per month<\/li>\n
          2. He had paid premium on his insurance policy Rs 12000\/- .<\/li>\n
          3. He had purchased Rs 8000\/- worth of national saving certificates.<\/li>\n
          4. He had repaid Rs 60000\/- as principal towards his housing loan.<\/li>\n
          5. He had invested Rs 20000\/- as fixed deposit in a nationalised bank for a period of 5 years.<\/li>\n<\/ol>\n<\/ol>\n
          6. Compute Income from house property of Mr. Amar for the assessment year 2016-17.<\/li>\n

            [Particulars\tProperty A (RS. Property B(RS. Property C(RS)]<\/p>\n

              \n
            1. Municipal value 80000 100000 120000<\/li>\n
            2. Fair rental value\t70000\t90000\t100000<\/li>\n
            3. Rental value\t90000\t120000\tSelf occupied for residence<\/li>\n
            4. Municipal tax\t10%\t10%\t10%<\/li>\n
            5. Repairs\t50000\t12000\t–<\/li>\n
            6. Vacancy period\t2 months\t1 month\t–<\/li>\n
            7. Interest on housing loan\t5000\t10000\t30000<\/li>\n
            8. Unrealised rent received\t6000\t10000\t–<\/li>\n<\/ol>\n
            9. Compute the income from business of Mr. Srinivas a sole trader for the assessment year 2016-17.<\/li>\n

              Trading and profit & loss account as on 31st march 2016
              \n[Particular\tAmount\tParticular\tAmount]<\/p>\n

                \n
              1. To opening stock 12000 By sales 245000<\/li>\n
              2. To purchases\t148000\tBy closing stock\t55000<\/li>\n
              3. To carriage inwards\t2000<\/li>\n
              4. To wages\t45000<\/li>\n
              5. To water\t6000<\/li>\n
              6. To octoria\t4000<\/li>\n
              7. To gross profit\t83000<\/li>\n

                \t300000\t\t300000<\/p>\n

              8. To salaries\t6000\tBy gross profit\t83000<\/li>\n
              9. To general expenses\t7000\tBy rent received\t27000<\/li>\n
              10. To printing and stationary\t3000\tBy interest received\t15000<\/li>\n
              11. To discount allowed\t1000\tBy dividend received\t3000<\/li>\n
              12. To bad debts\t500<\/li>\n
              13. To house hold expenses\t15000<\/li>\n
              14. To medical insurance on own life\t5000<\/li>\n
              15. To net profit\t90500<\/li>\n

                \t128000\t\t128000
                \nAmount of depreciation to be allowed was Rs 8000\/-. General expenses includes Rs 2000\/-given as temple for a local temple.\n<\/ol>\n

              16. Mr. Surendra retired form his services on 1-1-2015 from X Ltd. And received Rs.2,50,000 as accumulated balance from URPF which includes :<\/li>\n
                  \n
                1. Employers contribution Rs. 75,000<\/li>\n
                2. Employees contribution Rs.75,ooo<\/li>\n
                3. Interest on Employers contribution Rs. 50,000<\/li>\n
                4. Interest on Employees contribution Rs.50,000<\/li>\n

                  Calculate the taxable portion and exempted portion and also specify under which head of income it is taxable.\n<\/ol>\n

                5. Mr. Vishak, a employee of a private sector company in Bangalore (population more than 25 lakhs,) draws Rs. 6,000 per month as Basic salary.<\/li>\n

                  Other allowances and benefits attached to his office are:<\/p>\n

                    \n
                  1. Dearness allowance (forming part of salary) 10% of basic<\/li>\n
                  2. Bonus 20% of basic salary<\/li>\n
                  3. Commission Rs.200per month<\/li>\n
                  4. Conveyance allowance Rs.500 per month ( 40% utilised for official purposes and 25% is utilised for personal purposes)<\/li>\n
                  5. Tribal area allowance Rs. 7,200<\/li>\n
                  6. Rent free house has also been provided whose fair rent is Rs.600 per month.<\/li>\n
                  7. During the PY 15-16- Mr. Prakash draws salary of April and May 2009 in advance,<\/li>\n

                    Determine the value of perquisite in respect of rent free house for the AY 16-17 PY 15-16\n<\/ol>\n

                  8. Calculate NAV from the following information:<\/li>\n

                    [Particulars\tHouse X\tHouse Y]<\/p>\n

                      \n
                    1. Municipal Value 40,000 52,000<\/li>\n
                    2. Fair rental Value\t38,000\t51,000<\/li>\n
                    3. Standard rent\t41,000\t55,000<\/li>\n
                    4. Annual rent\t60,000\t66,000<\/li>\n
                    5. Vacancy period rent\t5,000\t5,500<\/li>\n
                    6. Unrealised rent\t2,500\t2,750<\/li>\n
                    7. Municipal taxes paid\t9,000\t7,000<\/li>\n
                    8. Paid by tenant\t3,000\t2,000<\/li>\n<\/ol>\n<\/ol>\n

                      PART -C<\/b><\/p>\n

                      (Answer any TWO Questions) 2 x 15 = 30<\/p>\n

                        \n
                      1. Shri kishore is the owner of 3 houses. The following are the particulars of his property for the year ended 31-3-2015.<\/li>\n

                        [Particulars\t1 House\t2 House\t3 House]<\/p>\n

                          \n
                        1. Year of construction 2013 2014 2015<\/li>\n
                        2. Purpose of use\tLet out to bank\tSelf\tLet out to residence<\/li>\n
                        3. Actual rent received (PA. 30,000\t—\t24,000<\/li>\n
                        4. Municipal valuation\t32,000\t28,000\t30,000<\/li>\n
                        5. Municipal tax paid by kishore\t1,200\t1,000\t3,000<\/li>\n
                        6. Municipal tax paid by tenant\t2,000\t1,800\t\u00e2\u20ac\u201d<\/li>\n
                        7. Total Municipal tax\t3,200\t2,800\t3,000<\/li>\n
                        8. Fire insurance premium\t2%\t20%\t2%<\/li>\n
                        9. Interest on loan taken for renewal of the house\t–\t7,000\t5,000<\/li>\n

                          Compute taxable income from the house property of Shri kishore for the assessment year 2015-2016.\n<\/ol>\n

                        10. From the P& L A\/c of a Merchant for the year ended 31-3-2015 ascertain his taxable profit from biz for the Assessment Year 15-16<\/li>\n

                          [Particulars\tAmount\tParticulars\tAmount]<\/p>\n

                            \n
                          1. To Salaries 15,000 By Gross profit 50,000<\/li>\n
                          2. To General Expenses\t4,000\tBy bad debts recovered(disallowed earlier. 2,000<\/li>\n
                          3. To Advertisements\t4,000\tBy share of profit in a firm\t20,000<\/li>\n
                          4. To interest on capital\t2,000\tBy Rent received\t5,000<\/li>\n
                          5. To interest on Bank loan\t500\tBy dividend on Indain company shares Co-operative society\t3,104 2,000<\/li>\n
                          6. To RBDD\t2,000\tBy interest on post office savings bank a\/c\t896<\/li>\n
                          7. To Fire insuarance premium (let out house. 100\tBy agricultural income\t10,000<\/li>\n
                          8. To depreciation\t4,000\tBy interest on fixed deposits in a bank\t3,000<\/li>\n
                          9. To reserve for O\/S sales tax\t11,000\tBy interest on government security\t6,000<\/li>\n
                          10. To Loss of cash by an employee to embezzlement\t3,000<\/li>\n
                          11. To Donation to political party\t16,000<\/li>\n
                          12. To local taxes on let out house\t500<\/li>\n
                          13. To motor car expenses\t1,000<\/li>\n
                          14. To wealth tax\t3,500<\/li>\n
                          15. To net profits\t35,400<\/li>\n

                            \t1,02,000\t\t1,02,000
                            \nThe following information is available:<\/p>\n

                          16. Salary includes Rs.500 per month drawn by the proprietor as salary.<\/li>\n
                          17. Advertisement includes Rs.1,500 being the cost of one neon sign board.<\/li>\n
                          18. General expenses include Rs.1,200 being the fees paid to the chartered accountant in connection with income tax appeal.<\/li>\n
                          19. 1\/4th of the car expenses relate to personal use .<\/li>\n
                          20. Depreciation is found to be in excess by Rs. 1,500<\/li>\n
                          21. Actual bad debts amounted to Rs.1,000<\/li>\n
                          22. Out of the out standing sales tax Rs. 3,000 is paid within due date and the balance is not yet paid.<\/li>\n<\/ol>\n
                          23. Mr. Kishore Revankar working as senior associate in multi national process Ltd. Received the following salary and allowances during Previous year 2015-2016. Calculate his taxable salary assuming no other benefits are obtained by him.<\/li>\n
                              \n
                            1. Basic salary Rs. 16,500 per month<\/li>\n
                            2. D.A 10% of basic salary(50% enters)<\/li>\n
                            3. Leave salary Rs. 15,000<\/li>\n
                            4. Bonus Rs. 10,000<\/li>\n
                            5. Mr. Kishore contributed Rs.26,000 to his RPF and the same amount is been contributed by his employer also.<\/li>\n
                            6. Interest on accumulated RPF account at 12.5% Rs. !5,000<\/li>\n
                            7. Medical allowances Rs. 13,000<\/li>\n
                            8. Transport allowance Rs.500 per month upto 31-12-2014 and from 1-1-2015 he received Rs.1,000 per month.<\/li>\n
                            9. Tiffin and lunch allowance Rs.200 per month<\/li>\n
                            10. Children education allowance of Rs. 200 per month each for 3 children.<\/li>\n
                            11. Entertainment allowance Rs.100 per month.<\/li>\n
                            12. He paid professional tax of Rs. 1800 for the year.<\/li>\n

                              Compute his taxable salary for assessment year 2015-2016\n<\/ol>\n<\/ol>\n

                              For detail syllabus of all other subjects of BE Office Mgmt, C15 scheme do visit Office Mgmt 6th Sem syllabus for C15 scheme<\/a>.<\/p>\n

                              Dont forget to download iStudy Syllabus App<\/a> for latest syllabus and results, class timetable and more.<\/p>\n","protected":false},"excerpt":{"rendered":"

                              Income Tax Practice detail DTE Kar Diploma syllabus for Modern Office Management (MM), C15 scheme is extracted from DTE Karnataka official website and presented for diploma students. The course code […]<\/p>\n","protected":false},"author":2298,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[19,78],"tags":[],"class_list":["post-11818","post","type-post","status-publish","format-standard","hentry","category-6th-sem","category-modern-office-mgmt-diploma"],"_links":{"self":[{"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/posts\/11818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/users\/2298"}],"replies":[{"embeddable":true,"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/comments?post=11818"}],"version-history":[{"count":0,"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/posts\/11818\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/media?parent=11818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/categories?post=11818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.inspirenignite.com\/vtu\/wp-json\/wp\/v2\/tags?post=11818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}