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Hello, I'm Neeraj here. I want question paper with solutions for last 5 years of TY B.Com for subjects Auditing and Taxation. I'm studying in a college affiliated to Mumbai University.

From the particulars given below compute the business income for the assessment year 2019-20.

To salary to staff

Bad debts Bonus

Reserve for bad & doubtful debts

Provision for income tax

Expenditure on acquisition of copy Right

Cost of extension of office building Postage expenses

By sundry receipts

PROF. MUBINA ATTARI

Rs. 2,92,000

By gross profit By rent of quarters given

15,000 10

30,000 employee

11,000

By Customs duty recovered

from Govt, (not allowed :

25,000 earlier)

By Bad debts recovered

(Out of which 5,000 were not

12000

36,000 allowed

8.000 10.000

earlier)

Rs. 8,01,000

50,000

60,000

15.000

www.dace.edu.in

DACC

DNYANSAGAR ARTS AND COMMERCE COLLEGE, BALEWADI, PUNE - 45

Subject: Auditing and Taxation

Subject Code: 304

CLASS: TV B.com

Legal expenses

Expenses on diwali

GST

Lumpsum amount paid to acquire technical

know how

Lumpsum amount paid to acquire a patent

right Legal expenses regarding income tax

appeal

Net profit

Other relevant information are:

12.000

15,000 69,000

30,000

40,000

24,000

3,10,000 9,36,000

1. General expenses include expenditure of Rs.5.000, incurred on the training of an

employee.

2. GST amounting to Rs.42,000 was due on 31.3.2019 the due date of deposit under GST is 20.5.2019. It is deposited as under:- Rs.35,000 on 29.6.2019 - Rs.7,000 on

5.11.2019

3. Salary staff includes a payment of Rs.30,000 paid to a relative employee which is considered to be unreasonable up to Rs.5.000.

4. Provisions for income-tax is excessive to the tune of Rs.5.000.

5. Bonus includes Rs.20.000 due on 31.3.2019 which is paid on 2.11.2019

6. The particulars about the assets of the business are as under:

(i) Building (Office) W.D.V. on 1.4.2018 Rs.5,00,000 (ii) Godown W.D.V. on 1.4.2018 Rs.3,00,000

(iii) Plant and Machinery W.D.V. on 1.4.2018 Rs.2.80,000

7. Technical know how was acquired on 1.11.2018 from an institution, which financed by Government of India.

8. Due date of furnishing the return of income is 30.9.2019.