B.A. LL.B. (Five Years) Sem 7 Law of Taxation 2015 Dec Question Paper - KSLU

Questions asked in this paper

1. Q1 What is agricultural income ? How agricultural income is treated for income tax purpose under Income Tax Act ?
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2. Q2 Define the term casual income. State the circumstances in which the casual incomes are taxable.
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3. Q3 Explain the power of the Commissioner of Income Tax to reduce or waive penalty under I.T. Act.
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4. Q4 What is meant by net wealth and state the assets that are not included in the net wealth of an assessee ?
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5. Q5 Explain the provision and procedure relating to the registration of goods under Excise Act.
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6. Q6 Discuss the provisions relating to assessment of duty under Customs Act.
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7. Q7 Explain the law relating to sale or purchase in the course of inter-state trade or commerce under Central Sales Tax Act.
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Write notes on any two of the following :

1. Q8 (1) Tax evasion and Tax avoidance
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2. Q8 (2) Deemed wealth
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3. Q8 (3) Advantage and disadvantage of value added tax.
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Solve any two of the following problems :

1. Q9 (a) Mr. 'M' an Indian citizen left India for the first time on 30-05-2013 for the purpose of permanently settling down in England. Determine his residential status for the assessment year 2014-15
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2. Q9 (b) An Assessee was an authorised dealer of Sony Electronic products which were sold to different customers in Karnataka under the direct billing from Sony Ltd. in Delhi. Is there a sale in course of inter-state trade or commerce ? Give reason.
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3. Q9 (c) Draw a format showing computation of taxable income from let out house property.
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Typed from the KSLU paper above. The paper is the original. Long reading passages are shortened here to their first and last lines and a summary.