Section C (4 Mark)
Read the senario and answer to the question.
Harish wants to go abroad on a family vacation tour in January next year. A tour operator is offering him a package in which he has to pay only Rs. 20,000 on 1st January, 2011 which is 10% upfront amount, while the remaining amount is to be repaid in 36 EMIs of Rs. 7,500 each, first EMI payable on 1st February, 2011.
Harish wants to know the annual effective rate of interest which he may incur in subscribing to this offer.

Section A (1 Mark)
Short-term capital gain arising for the transfer of equity shares and units of equity oriented fund shall be taxable

Section B (2 Mark)
In order to determine the residential status of an NRI returning to India for permanent settlement, for the year of return, besides the stay not exceeding 181 days an additional condition is applicable that of stay not totalling to____________ days or more in relevant year if his stay in earlier ___________ years totaled to 365 days or more.

Section B (2 Mark)
Resident but not ordinary resident (RNOR) is ____________ on Indian Income and ___________ on Foreign Income.

Section A (1 Mark)
An American call option can be exercised