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1. Mr. Bhaalla started with a grocery shop. You being the tax consultant to Mr. Bhaalla advise him on
how the income from the grocery will be assessed under the Income tax Act and the principles to be
considered while computing the taxable income? (10 Marks)
2. You want to remit 1000 dollars as a payment of interest to Mr. Albert. Your tax consultant advises
that such payment can be done if relevant procedures and guidelines for making such payment outside
India are followed. Discuss the same in the light of the different provisions of Income Tax Act. (10 Marks)
3. Mr. Rajat owns two houses. The details with respect to let out property is as under
Compute
b. Income taxable under the head Income from house property. (5 Marks)