Loan taken tO purchasecar (outstanding mou

329.5 Case study 5-Generate income-tax return from the data given below -

Name Ram Singh Anand

Father's Name Amar Singh Anand
PAN AANPA1207N
Date of birth 07/07/1986
(Kerala)
Railway Road, New Street, Kannur - 670003
Address 4-12-78,

Mobile No. 7116586328

rsanand@rediffmail.com
e-mail ID
resident (hewas in India for 310 days during
Residerntial status Resident and ordinarily
the previous year 2023-24)

Return to be filed under which section 139(1), originalreturn

TataOverseas Computers Ltd., 6G3/393, Old Uttam Nagar, Kannur.

Name and addressof employer
670012 (Kerala)
BARCT88240
PAN of employer
Nil
Diretor in any company
Nil
Shareholdingin unlisted companies
1
No. of bank accountsheld by assessee
at any time (including opened/closed)
during the previousyear
Name of bank SBI
Details of bank accounts
Account No. 71236547945

IFS Code SBINOO06521

of accournt Saving
Type

Date of filing
11/09/2024
Kannur
Place of filing return

Income details - Income details are given below -

Rs.

Income fromsalary (as per Form No. 16 given by employer) 86,00,000

Basic salary 34,000

Transport allowance
House rent allowance - 20,000
- Exempt from tax 9,000

- Chargeable to tax. 6,000

Leave salary(fully taxable)..

travelling -
Conveyance allowance for local 12,000
received from employer
-Conveyance.allowance 11,000
section 10(14)
-Conveyance allowance exempt under
Leave travel concession(LTC)- 6,50,000
fromemployer
-LTC received 6,10,000

-LTCexempt under section 10(5) section 10(14)]...

2,400
exempt under
Children education allowance [fully
Elephant Maidarn, Kochi -682001)(nane of tenant -T. Mathew)
(100-15/AB,
Incomefrom house property 21,40,000

Rent (no TDS) 80,000

Municipal tax (paid). 5,10,000

forpurchase of property
Interest on borrowed capital
 CASE STUDY 6 Para 329.6

Rs.
forward loss of assessment year 2023-24 of house property (date
Brought of filing of return:
15/06/2023) (-) 74,000
sources
Income from other

received from a friend on loan given to him

Interest 18.700
from lottery (on October 16, 2023) (net of TDS @ 30%) 35,000
Winnings
korest On income-tax refund (received on January 6, 2024 for the assessment year 2022-23) .. 11,250
T Software Ltd. (noTDS)
Dividend from 4,700

Interest
Credited in saving bank account 1,32,930

Investment/expenditure
fund contribution 1,10,000
Provident
20,000
NPS
48,000
Mediclaim insurance premium of father-in-law and mother-in-law
(both senior citizens)..
Investment in National Savings Certificates (VII Issue) (date of investment :January 1,2021)
25,000
(rate of interest :7.76 per cent)

Tax deducted at sOurce

23,10,000
: DELT23698D)
- By employer (TAN of employer 15,000
-By Jagatpur Lottery Authority (TAN: MUMJ52136A).

Self-assessment tax paid by assessee 34,000

of bank: 0008610, Challan No. :00601)
-Tax paid on 17/04/ 2024 (BSR Code

Assets details -Asset details are given below

Rs.

70,00,000
value not available)
house property (current market
Original cost of Kochi 2,03,000

Cash-in-hand on 31/03/2024 6,50,000

value not available)
during 2020-21 (currentmarket 2,000
Motor car (120) purchased
amount as on 31/03/2024)
Loan taken to purchase car (outstanding
return from the data given below