Section B (2 Mark)
Total income of an individual including long-term capital gain of Rs. 50,000 is Rs. 1,10,000, the tax on total income shall be:

Section B (2 Mark)
What is the outstanding balance at the 23rd payment interval of a 16-year loan for Rs11 234 with semi-annual payments and an interest rate of 7.95% compounded quarterly?

Section A (1 Mark)
Creation of an Estate Plan normally occurs during __________

Section C (4 Mark)
In the year to 31 March 2012, a UK resident company receives overseas income of £9,000 (net) from which
10% tax has been deducted at source. The company's only other income is a UK trading profit of £80,000.
There are no associated companies. What is the UK corporation tax liability for the year?

Section A (1 Mark)
____________refers to the tendency of people to think of currency in nominal, rather than real terms