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IGNOU BCOC-136
- Income Tax Law and Practice,
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(July 2020 - January 2021)

IGNOU
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IGNOU BCOC-136 July 2020 - January 2021 - Solved Assignment

Are you looking to download a PDF soft copy of the Solved Assignment BCOC-136 - Income Tax Law and Practice? Then GullyBaba is the right place for you. We have the Assignment available in English and Hindi language.

This particular Assignment references the syllabus chosen for the subject of Business and Law, for the July 2020 - January 2021 session. The code for the assignment is BCOC-136 and it is often used by students who are enrolled in the BCOMG Degree.

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IGNOU BCOC-136 (July 2021 - January 2022) Assignment Questions

Section-A

Q.1 Explain the procedure of Tax payment and Filing of return of Income.

Q.2 Explain the provisions relating to Gratuity u/s 10 (10) and Commuted pension u/s (10)10A.

Q.3 What is Annual Value? Explain the various deductions which are allowed from annual value u/s 24.

Q.4 Explain the provisions relating to exemption of income for nonresident assessee.

Q.5 Discuss the provisions relating to Voluntary Retirement u/s 10 (10C)

Section-B

Q.6 Mr Amit came to India for the first time on July, 10, 2020 and stayed up to February 28, 2021, Determine his residential status for the assessment year 2021-22.

Q.7 Gita, Sita and Mita are partners of a firm with equal shares. The profits and loss accounts for the year ended 31.3.21 shows a net profit of Rs 99,750 after debiting the following as per deed
i. Salaries of Rs 17,000 and Rs 18,000 to Gita and Sita respectively
ii. Bonus to Mita Rs 15,000
iii. Rs 5,000 for interest on Capital to Gita calculated @ 20%.
iv. Rs 15,000 for rent of the business premises paid to Sita.
v. Commission of Rs 5,000 to Mita.
Compute Book profit and the total income of the firm for the assessment Year 2021-22, assuming that it is a professional firm and all are working partners

Q.8 Explain the provision relating to ‘Profits in Lieu of Salary’

Q.9 What is the provision applicable for Additional deprecation on new machinery or plant u/s section 32.

Q.10 Find out the taxable value of the Interest free/Concessional loan as per rule 3(7) (i).

Section-C

Q.11 Write short note:
a) Defective return u/s 139(9)
b) Deduction u/s80E
c) Entertainment allowance u/s 16 (ii)
d) Bond washing transactions

Q.12 Explain the following questions:
a) Provisions of rent free accommodation when accommodation is provided by any other employer
b) CBDT
c) Provisions relating to Income from assets transferred to daughter in law u/s 64 (1) (vi)
d) Provisions relating to set off of losses from owning and maintaining race horses u/s 74 A (3)

IGNOU BCOC-136 (July 2020 - January 2021) Assignment Questions

  1. Explain the procedure for E-Filing of Return and also discuss do’s and don’t.
  2. Describe Taxable and Tax free allowances and explain the provisions relating to House Rent Allowance u/s 10 (13A).
  3. What are Casual incomes? Explain the certain incomes for which the tax is paid in the same year.
  4. Explain the provisions relating to exemption of incomes of Charitable and Religious Trust and a Political Party.
  5. Discuss the general principal calculating Business and Professional Income.
  6. After 25 years stay in India, Mr. Ram went to U.S.A. on April 15, 2012 and came back to India on March 12, 2020. Determine his residential status for the assessment year 2020-21.
  7. Mr. Manas purchased the agricultural land in 2003-04 for Rs. 2,32,000 and sold for Rs. 12,00,000 in December 2019. He purchased another agricultural land in January 2020, for Rs. 1,00,000 and deposited Rs. 60,000 in April 2020 in Capital Gain Account Scheme, 1988. Compute the taxable capital gain of Mr. Manas for A.Y. 2020-21. The cost inflation index in 2003-04 was 109 and in 2019-20, 289.
  8. What is Capital Gains. Distinguish between long term & short term Capital Gain.
  9. What is the provision applicable for ‘House property when unrealized rent is realized subsequently under Income tax act, 1961.
  10. Find out the taxable value of the Interest free/Concessional loan given by the employer.
  11. Write short note:
    Partial Integration of Agricultural and Non-Agricultural Income.
    Deduction u/s 80D.
    Defective return is no return
    Standard Deduction u/s 16(i)
  12. Explain the following provisions:
    Provisions of commutation of Pension u/s 10 (10A)
    ITR-1 (SAHAJ)
    Provisions relating to Clubbing of minor’s income
    Provisions relating to Gratuity u/s 10(10) in case of employees is covered by Payment of Gratuity Act, 1972.

IGNOU BCOC-136 (July 2020 - January 2021) Assignment Questions

BCOC-136 Assignment Details

  • University IGNOU (Indira Gandhi National Open University)
  • Title Income Tax Law and Practice
  • Language(s) English and Hindi
  • Session July 2020 - January 2021
  • Code BCOC-136
  • Subject Business and Law
  • Degree(s) BCOMG
  • Course Core Courses (CC)
  • Author Gullybaba.com Panel
  • Publisher Gullybaba Publishing House Pvt. Ltd.

Assignment Submission End Date

The IGNOU open learning format requires students to submit study Assignments. Here is the final end date of the submission of this particular assignment according to the university calendar.

  • 15th July 2021 (if Enrolled in the July 2020 Session)
  • 30th Sept. 2021 (if Enrolled in the January 2021 Session).

Download Files & Sessions Details

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English Language

  • July 2021 - January 2022 18 Pages (0.00 ), PDF Format SKU: IGNGB-AS-BCO-BCOC136-EN-
  • July 2020 - January 2021 26 Pages (0.00 ), PDF Format SKU: IGNGB-AS-BCO-BCOC136-EN-

Hindi Language

  • July 2020 - January 2021 28 Pages (0.00 ), PDF Format SKU: IGNGB-AS-BCO-BCOC136-HI-

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