Taxation - Jan Rtp 2026 RTP

1. Compute the income taxable under the head “Income from House Property” in the hands of Mr. Vivek? (a) % 10,92,000 (b) ₹15,12,000 () ₹17,22,000 (a) ₹17,20,500

2. Compute the income taxable under the head “Capital Gains” in the hands of Mr. Vivek? (a) ₹29,04,000 (b) ₹29,10,000 (c) ₹35,51,000 (d) © 47,51,000

3. Determine the amount of tax credit to be available to Mr. Vivek for F.Y. 2024-25 if tax has been deducted by the deductor(s)? (a) % 88,600 (b) 58,800 54 JANUARY 2026 EXAMINATION REVISION TEST PAPERS TAXATION () = 55,000 (d) Nil

2033-34, Mr. Vivek received the maturity proceeds from both the policies of ₹40 lakhs and % 27 lakhs, respectively. Considering the most beneficial to Mr. Vivek, which of the following statements is correct? (a) The maturity proceeds from both the policies “A” and “B" is exempt under section 10(10D). (b) The maturity proceeds from policy "A" is exempt but from policy “B" is taxable. (c) The maturity proceeds from policy “B" is exempt but from policy "A" is taxable (d)…

Aanchal, an Indian Citizen, is a government employee working for the Indian Government. She submits the following information for the previous year ending on 31.03.2025: 1 | Salary income received in Malaysia for services | 2,00,000 rendered there 2 | Profits from business carried on in Chennai 80,000 3 | Loss from business carried on in Vadodara (20,000) 4 | Loss from business carried on in USA (though profits | (46,000) are not received in India, business is controlled from…

Ms. Ashima, aged 45 years, has been the HR manager for the past 15 years in Shipra Ltd. She gives you the following particulars for FY. 2024-25: Basic Salary % 70,000 p.m. Dearness Allowance = 24,000 p.m. (30% of which forms part of retirement benefits) Bonus % 21,000 p.m. Ms. Ashima contributes 18% of basic salary as contribution to RPF. Her employer contributes the same amount to her RPF account. The company pays medical insurance premium of % 20,000 to…

8. Mr. K is a 48-year-old resident individual. The details of income earned for the P.Y. 2024-25 from diversified businesses and investment portfolio are as under: (i) He runs two businesses: . A manufacturing business with profit of = 10,00,000. . A speculative business with loss of = 7,00,000. (ii) He incurred a loss of % 2,15,000 from a let-out property and also earned an income of % 50,000 from the activity of owning and maintaining race horses. For earning…

9. Examine the applicability and determine the amount of tax deduction at source as per the Income-tax Act, 1961 for the A.Y. 2025-26 in the following situations: (i) — ABC Ltd., having its registered office in Noida, organized its annual company function at its Gurgaon office. For this purpose, the company engaged Beta Pvt. Ltd. to arrange road transport for its employees from Noida to Gurgaon and back, for which a payment of = 25,000 has to be made. Further…