Solutions -CA IPCC Tax May 2012 Paper

Q. No.		Answer
1(a)		Total income = 9,83,820, Tax = 1,50,530
1(b)		Tax payable  = 88,065
1(c)		Net VAT payable = 80,000
2(a)	(i)	Yes he is reuired to file ROI
	(ii)	15,000
2(b)		Value of taxable services = 8,45,330, Tax = 87,069
3(a)		24,531
3(b)		False, False, False, False, False, True, False, False
3(c)		False, False, False, True, False, False, False, True
4(a)		Total income = 10,64,000
4(b)		Service tax = 91,052
4(c)		Tax payable = 5,15,350
5(a)		Mr. A = 2,60,500, Mrs. A = 2,40,000, Minor child = 20,000
6(a)		20 lacs
6(b)		6,25,567
6(c)		10,488
7(a)		2,65,300

Source: CAclubindia