B.A. LL.B. (Five Years) Sem 7 Law of Taxation 2019 Jun Question Paper - KSLU

Questions asked in this paper

1. Q1 Define "Income" and explain the concept of income.
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2. Q2 Define the term "Salary". State items under the head salary.
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3. Q3 What is meant by business and profession ? What incomes are chargeable to income tax under the head profits and gains of business or profession ?
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4. Q4 Explain the power of the Commissioner of Income Tax to reduce or waive penalty under I.T. Act.
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5. Q5 Discuss the provisions of residential status of different assessees under Income Tax Act, 1961.
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6. Q6 Explain the procedure for clearance of imported goods from the Port under Customs Act, 1962.
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7. Q7 What is CGST and SGST ? Explain the salient features of GST.
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Write note on any two of the following :

1. Q8 (a) Previous Year
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2. Q8 (b) Constitutional provisions relating to GST
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3. Q8 (c) Defective returns.
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Solve any two of the following :

1. Q9 (a) A person has sustained a loss of Rs. one lakh in his speculative business. He wants to claim set-off of this loss from his income of Rs. thirty thousand received under the head income from house property. Will he be allowed to do so under the law ? Decide with reasons.
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2. Q9 (b) A, while travelling in KSRTC bus, meets with an accident and is temporarily disabled. KSRTC pays an amount of Rs. 10,000/- as compensation to him. State whether the amount is revenue receipt or capital receipt.
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3. Q9 (c) 'A' company is formed solely to do the business of building houses and letting them on rent. Is this income of the company taxable, if so under what head of the income ?
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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.