Goa Board Class 12 Question Paper Mar 2019 Cost Accounting and Taxation

2019 III 12 1000 Seat No.

Time : 2 Hours Cost Accounting & Taxation
Subject Code

V 2 2 1
Total No. of Questions : 5 (Printed Pages : 4) Maximum Marks : 50

INSTRUCTIONS : (i) All questions are compulsory.

(ii) Write the number of each question and sub-question
clearly.

(iii) Figures to the right indicate full marks.

(iv) All sections referred are from Income Tax Act, 1961,
as applicable to the assessment year 2018-19.

(v) Answer each question on a fresh page.

1. (A) Select and write the most appropriate alternative from those given below
and complete the following statement : 1

(i) The rate of depreciation under section 32, applicable in respect
of residential buildings other than hotels and boarding houses
is...........................................

(a) 5%

(b) 10%

(c) 15%

(B) Answer the following in a word or a phrase or a figure : 1

(i) State the rate of deduction allowable under section 35 in respect
of contribution made to national laboratory for the purpose of
scientific research.

(C) State any three conditions to be satisfied by an assessee to claim general

deductions under section 37. 3

(D) State any five incomes chargeable to tax under the head ‘profits and

gains of business or profession’ under section 28. 5

2. (A) Select and write the most appropriate alternative from those given below

and complete the following statement : 1

(i) The maximum amount of deduction allowable under section

80 U in respect of a person with severe disabilities is Rs..............

(a) 1,25,000

(b) 1,00,000

(c) 75,000

(B) Answer the following in a word or a phrase or a figure : 1

(i) State the maximum amount of deduction available under section

80 D, in respect of medical insurance premium for senior citizen.

(C) Compute the maximum amount of deduction available under section
80 C from the following savings/contributions. 3

Contribution to public provident fund Rs. 30,000 per annum.

Tuition fees paid Rs. 40,000 during the year. Life insurance premium

paid Rs. 60,000 per annum. Subscription to national savings certificates

Rs. 50,000 during the year.

(D) Expalin any five applicable provisions of section 80 DDB, a deduction

in respect of medical treatment of certain specified diseases or

ailments. 5

Or

Explain any five applicable provisions of section 80 CCD, a deduction

in respect of contribution to National pension scheme notified by Central

Government.

3. (A) Select and write the most appropriate alternative from those given below

and complete the following statement : 1

(i) The amount donated by resident individual towards national

children fund is eligible for deduction under section 80 G @

of...............................................

(a) 125%

(b) 100%

(c) 50%

(B) Answer the following in a word or a phrase or a figure : 1

(i) State the maximum amount of rebate on tax allowed under section

87 A in respect of an individual whose total income does not

exceed Rs. 3,50,000.

(C) State the rates of income tax applicable for individuals below 60 years

of age for the assessment year 2018-19. 3

(D) Explain the following techniques of costing :

(i) Marginal costing. 2½

(ii) Standard costing. 2½

Or

Explain the following methods of costing :

(i) Job order costing. 2½

(ii) Process costing. 2½

4. (A) Answer the following in one sentence : 1

(i) What is material requisition note ?

(B) Write a note on last in first out (LIFO) method of pricing the material
issue. 2

(C) State any two objectives of inventory control. 2

(D) Explain briefly perpetual inventory system of material control. 2

(E) Explain any three functions and duites of storekeeper. 3

5. (A) Answer the following in a word or a phrase : 1

(i) State one example of distribution overhead.

(B) Write a note on apportionment of overhead. 2

(C) From the following, identify only the service departments : 2

(i) Finishing process

(ii) Accounting

(iii) Inspection

(iv) Crushing process

(v) Time keeping

(vi) Canteen.

(D) Explain the role of payroll department. (any two points). 2

(E) Enumerate any three disadvantages of overtime. 3