LL.B. (Five Years) Sem 8 Taxation Laws Nov 2019 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: Answer the questions as per instruction. Figures to the right indicate full marks allotted.

SECTION I - Q.1: Write Short Answers, not more than two sentences (20 Marks - 2 marks each)

1. Q1 What is "Self Occupied Property" under the Income Tax Act?
2. Q2 Define the term "Person" under the Income Tax Act.
3. Q3 Write any two intangible assets eligible for depreciation.
4. Q4 What is "Defective Return" under the Income Tax Act?
5. Q5 What is "Resale" under the MVAT Act?
6. Q6 Define "Appropriate State" under the CST Act.
7. Q7 What is "Jewellery" under the Income Tax Act?
8. Q8 What is "Charitable Purpose" under the Income Tax Act?
9. Q9 Define "Goods" under the MVAT Act.
10. Q10 Define "Co-operative Society" under the Income Tax Act.

SECTION II - Q.2: Write short notes on any four (20 Marks - 5 marks each)

1. Q11 Agricultural Income.
2. Q12 Presumptive Income for Professionals.
3. Q13 Tax Invoice.
4. Q14 Loss under the Income Tax Act.
5. Q15 Collection of Tax at Source.
6. Q16 Sale Price and Purchase Price under the MVAT Act.

SECTION III - Q.3: Answer with giving reasons, any two (12 Marks - 6 marks each)

1. Q17 State the heads of income under which the following incomes are included: (i) Pension received from the former employer. (ii) Salary received from the present employer.
2. Q18 State whether the following purchases are eligible for set off under the MVAT Act: (i) Purchases of inputs for manufacture of taxable goods. (ii) Purchases of taxable goods for resale.
3. Q19 Mr. Mohan has sought your advice on the following matters: (i) He has sold some shares resulting in a loss. He wants to adjust this loss against his salary income. (ii) He has received arrears of salary for the last five years. Is there any way to claim relief from tax liability?

SECTION IV - Q.4: Answer the following elaborately, any four (48 Marks - 12 marks each)

1. Q20 What is residential status? State how it is determined and discuss its effect on the scope of total income.
2. Q21 Discuss the provisions relating to computation of income under the head "Income from House Property".
3. Q22 Discuss the provisions relating to audit under the MVAT Act.
4. Q23 Explain "Sale or purchase in the course of interstate trade or commerce" and "Sale or purchase in the course of export".
5. Q24 Define "Dealer". When does a dealer become liable to pay tax under the MVAT Act?
6. Q25 Explain any three deductions under Chapter VI-A.

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