Please help me

1. The following items of incomes are received by Mr. Muralidhar for the previous
   Year. Find out the taxable income for the relevant assessment year if the assessee is
   a) Resident b) Not –Ordinarily resident and c) Non-Resident.
   i) Income from business in UK Rs.5 lakh, received there itself except Rs.2 lakh
   received in India
   ii) Income from dividends of foreign companies received abroad Rs.3 lakh.
   iii) Income from business in Bangladesh, business being controlled from India Rs.3 lakh
   iv) Income from agriculture in Sri Lanka, 50% received in India Rs.6 lakh
   v) Past untaxed Income earned outside India but brought into India during the
   previous year.
   vi) Income from pension received in India for the past services rendered in
   Myamnar, Rs.2 lakh
   vii) Income from house property in Nepal received and earned there itself Rs.4.5 lakh.

2. Mrs. Savitha Rani is working as a chief sales executive, drawing a basic salary of Rs. 8,500 per month. Dearness pay is Rs.4,250 per month; entertainment allowance of Rs.4,000 per month; She spends almost Rs.5,000 for entertainment of the clients of the organization every month. She has been provided with rent free furnished accommodation, fair value of which being Rs.12000 per month and the cost of furniture being Rs.2,00,000. She has been provided with a mobile by the organization and the monthly charges on an average Rs.5,000 are paid by the organization. The employer pays Rs.2500 per month towards RPF and matching contribution is made by the employee. The interest on the accumulated balance of RPF at 15% interest amounted to Rs.15,000.
   During the year, she paid insurance premium of Rs.60000 on her life policies. The employer has provided her free use of a big car with services chauffeur and all the expenses of maintenance and driver salary are met by the employer. She has taken a medi-claim policy on her parents and the premium paid on them amounted to Rs.12000 per annum. Her income from dividends, interest and other sources amounted to Rs.3 lakh.
Calculate her total income and tax liability for the relevant assessment year.

3. Natesh owns two houses and gives their particulars for the previous year 2007-08 as under:
House A: He has let out to a friend at Rs.10000 per month who occupied it for 8 months. Thereafter, it was let out at its market rent of Rs.20000 p.m. He has paid Rs.40000 as municipal taxes at 20% of MV. For re-roofing of the house he borrowed Rs.3,00,000 at 12% p.a. on 01-04-2007 from a friend. He has incurred legal expenses in this connection Rs.5000. The assessing officer denies deduction in respect of interest on a friendly loan.
House B: Ground floor is let out at Rs. 30,000 per month. First floor, identical to ground floor, is occupied by him for his residence. Municipal taxes paid at 12.5% amount to Rs.1,00,000. Loan
was taken to purchase the house in 2005-06. Interest payable for the year is Rs.4,50,000. During 2006-07, there was unrealized rent of one month. It is recovered during 2007-08.
House C: It is situated at England and it is let out £ 2000 p.m. and rent is received at England. Local authority has fixed its value after a repair allowance of 20%. Fire insurance premium paid is £1,000. It is compulsory according to government orders. Municipal taxes paid £4,500 at15%. One £=Rs.60. Natesh is ordinarily resident during the previous year.
Compute income from house property for the assessment year 2008-09.

4. 5.   Mr. X purchased 10000 equity shares of TT company listed in stock exchanges in India and abroad and a constituent of BSE500 on 15th March 2005 per share. He sold the shares at Rs.5000 per share on 31st December 2007. The brokerage and securities transaction tax deducted were 0.5% and 0.75% respectively. Examine the liability of Mr. X to income tax for the assessment year 2008-09. Will your answer be different , if instead of selling the shares in the market , Mr X privately transferred the shares to his son at the same price? ( Cost inflation factors: 2004-05 485; 2005-06: 497; 2006-07: 519; 2007-08: 551)

5. A) Diana, a lady, receives the following gifts during the year ending 31-3-2008.
i)   Rs.30000from her elder sister
ii)   Rs.50000from the daughter of her elder sister
iii)   Rs. 125000 from various friends on the occasion of her marriage.
Discuss the taxability or otherwise of these gifts in the hands of Diana.

B) Amit, a captain in Indian army was killed at Kargil war. The widow of Amit was paid an ex gratia payment of Rs.50000 in March 2008, besides the family pension during the year of Rs.90000. She wants to know about the taxability of both the receipts.

C) Srinivas purchased in 1992, 10000 shares of BMC Ltd., for Rs.5 lakh by borrowing money from a bank. He holds them as investments. He received dividend income on these shares of Rs.1,00,000 for the previous year 2007-08 on 10th December, 2007. He has paid interest of Rs. 85,000 on the loan to the bank. Please advise Srinivas , how should he deal with these facts in computing his income?

6. Mrs Saritha Rani is working as a Chief Sales Executive, drawing a basic salary of Rs. 10,500 per month. Dearness pay is Rs.5250 per month; entertainment allowance of Rs.5000 per month; She spends almost Rs.5,000 per month for entertaining the clients of the employer.. She has been given house rent allowance of Rs.10000 per month and she pays a rent of Rs.12000 per month in Bangalore. She has been provided with a mobile by the organization and the monthly charges on an average Rs.5000 are paid by the organization. The employer pays 20 per cent of basic salary towards RPF and matching contribution is made by the employee. The interest on the accumulated balance of RPF at 15% interest amounted to Rs.30000.
During the year, she paid insurance premium of Rs.60000 on her life policies. The employer has provided her free use of a big car and services of a chauffeur and all the expenses of maintenance and driver salary are met by the employer. She has taken a Medi Claim policy on her parents and the premium paid on them amounted to Rs.12000 per annum. Her income from dividends, interest amounted to Rs.3 lakh.
Calculate her total income and tax liability for the relevant assessment year.
3. Mention with reasons the tax treatment of the following items in the hands of an assessee.
a) Bonus received from LIC of Rs.15000 at the time of maturity of an endowment policy.
b) Gift of Rs. 40,000received from his father.
c) Gift of Rs. 15000 received from a lawyer from his client in appreciation of services rendered
d) Interest of Rs.10000 received on income tax refund order dated 20th March 2008 but delivered on 16th April 2008.
e) Family pension received by the widow of a deceased employee.
f) Leave encashment of Rs. 50000, received by the legal heirs of an employee, who suddenly expired during service.

7. A residential house, purchased by Kishore Kumar in July 1989 for Rs.4,00,000, is now sold on 1st May 2007 for Rs.25 lakh. He paid 2% brokerage. Determine the capital gain in the following cases:
a) He purchases a residential house in July 2006 for Rs.470000, constructs first floor on it by January 2008 at a cost of Rs.373024 and deposits Rs.400000 in a bank under capital gain scheme account on 31st December 2008 being the due date for furnishing return of income.
b) He purchases a residential house for Rs.1600000 on 1 September, 2007 but sale deed is executed in November 2008.
c) He constructs a house at a cost of Rs.1500000 by the end of October 2008, being the due date of furnishing return.
d) No house is purchased within one year before the date of transfer; he also fails to acquire any house by 31 October, 2008 , being the due date of furnishing return of income and no deposit is made under Capital Gains Scheme Account by the said date.
e) He constructs residential house by April 2009 at a cost of Rs.20,00,000