Super 60 – IAS Mains :- Daily Answer Writing Practice for Commerce Optional UPSC (Mains)- Day 8

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#Q.1) How will you segregate fixed cost element from the semi-variable cost? Explain with examples. 10 Marks

 

#Q.2)Do you agree with the view that Activity Based Costing is not very practical and useful? Discuss its limitations.20 Marks.

 

#Q.3) Mr. Shah is a salaried employee. During the year ended on 31st March, 2019, the details of his income and other information were as follows:
Annual salary 35000 per month = Rs. 4,20,000
Pay Arrears Rs.80,000
Leave travel concession provided by employer Rs.21,000
House Rent Allowance Rs.10,000 per month
Dividend on Investment in Shares Rs.1,500
LIC Premium paid employer on his life by Rs.18,000
Medical Allowance @ 1,200 p.m Rs.14,400
Mr. Shan invested in NSC Rs. 25,000
Investment in Mutual Fund (ELSS) Rs. 10,000
Deposit in Public Provident Fund Rs.15,000
Admission fees of the child Rs. 6000
Donation to a local private school Rs. 1000

He owns a house which has been let out on annual rent of Rs.96,000.
Paid Municipal Charges on House Property Rs. 6,000
Determine the Total Income of Mr. Shah and the tax payable by him as per the rates applicable for 2019-2020 Assessment year.-35 Marks


SUBSCRIBE TEST SERIES AND GUIDANCE PROGRAM FOR COMMERCE OPTIONAL UPSC (MAINS)-2020


SUBSCRIBE TEST SERIES AND GUIDANCE PROGRAM FOR COMMERCE OPTIONAL UPSC (MAINS)-2019