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Question 1
Vinod is projecting an income stream providing Rs. 2,000/- for first 3 months, Rs. 3,200 for next 2 months, Rs. 4,500 for next 1 month, Rs. 3,700 for next 6months and Rs. 800 for 2 months thereafter. Please calculate the Present Value of this cash stream if rate of interest is 9%
Question 2
X furnishes the following particulars for the compilation of his wealth-tax return for assessment year 2012-13.
Question 3
Mr. Bose runs his Handicrafts business. His net proceeds after deducting both the business expenses and living expenses are Rs. 6,00,000 p.a, which will increase at the rate of 5%. He is a bachelor and don't intend to start any family in future either. Since he don't have any family obligations, he wants to sell off his business after ten years and buy a home in foothills of Himachal.
He expects to sell the business for a good amount and put 40% of the proceeds in buying the house and setting up a retirement corpus with the rest of amount to pay off his post retirement expenses. He is philanthropic by nature and thus want to save the net revenues from his business to form a charitable hospital for poor people living in Himachal. His current living expenses are Rs. 4,00,000 p.a which will increase in line with inflation. Inflation rate is 3% and interest rate prevailing is 6%.
As a CWM you are required to calculate:
Question 4
Vinod joined on 01/01/90 in ABC Ltd. and retired on 01/01/2007.Employee paid leave encashment of Rs. 4,00,000/-. His last drawn salary is Rs. 25000/-. His last 10 months average salary is 23500/-. He availed 150 days leave during the service. What will be his taxable leave salary amount?
Question 5
From the following information of assets assets and liabilities, the taxable wealth for:
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