Helping Hand Questions for GLO_CWM_LVL_1

An investor is considering the purchase of a small office building and, as part of his analysis, form the following given data calculate the Net Operating Income (NOI)?

Ramesh retired as General Manager of XYZ Co. Ltd. On 30.11.2012 after rendering service for 20 years and 10 months. He received Rs. 300000 as gratuity from the employer. (He is not covered by Gratuity Act, 1972).

His salary particulars are given below:

He resides in his own house interest on monies borrowed for the self occupied house is Rs. 24000 for the year ended 31.03.2013

Compute taxable income of Ramesh for the year ended 31.03.2013.

R acquired a property by way of gift from his father in the previous year 1991-92 when its FMV was Rs. 3 lakh. The father had acquired the property in the previous year 1983-84 for Rs. 2 lakh. This property was introduced as capital contribution to a partnership firm in which R became a partner on 10/06/2011. The market value of the asset as on 10/06/2011 was 10 lakh, but it was recorded in the books of account of the firm at Rs. 8 lakh. Compute the capital gain chargeable in the hands of R.

Vinod Khanna, aged 27 years, is having a policy of Rs. 15 Lac sum assured and is paying premium of Rs. 14,800/- . The cash surrender value of this policy is at the end of previous year was Rs. 35,000. It is estimated that by this year end, the cash surrender value of this policy would be Rs. 40,000/-. Bonus under this old policy is Rs. 10,000/-.

There is another term insurance policy of Rs. 15 Lac Sum Assured is available to Vinod at Rs. 4,200/- per annum. If rate of interest is 8 % then first calculate the CPT of existing and new policy respectively and then advise Vinod if it is better to continue this policy or to discontinue it?