LL.B. (Three Years) Sem 4 Taxation Laws May 2016 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: Short Answers, not more than two sentences (20 Marks - 2 marks each)

1. Q1 What is "Resale" under the MVAT Act?
2. Q2 What is "Tax on Distributed Profits" under the Income Tax Act?
3. Q3 What is "Jewellery" under the Income Tax Act?
4. Q4 What is "Previous Year" and "Assessment Year" under the Income Tax Act?
5. Q5 What is "Firm" under the Income Tax Act?
6. Q6 What is "Minimum Alternate Tax" under the Income Tax Act?
7. Q7 What is the rate of tax applicable on goods specified in Schedule A and Schedule E of the MVAT Act?
8. Q8 What is "Agriculture" under the MVAT Act?
9. Q9 What is "Crossing the Customs Frontiers of India" under the CST Act?
10. Q10 What is "Taxfree Goods" under the MVAT Act?

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

1. Q11 Return of Income.
2. Q12 Income.
3. Q13 Check Post.
4. Q14 Purchase Tax.
5. Q15 Depreciation.
6. Q16 Business under the MVAT Act.

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

1. Q17 State whether the following transactions amount to transfer under the Income Tax Act: (i) Redemption of Zero Coupon Bond. (ii) Compulsory Acquisition of Capital Asset under any law. (iii) Distribution of Capital Assets on dissolution of firm.
2. Q18 State whether the following transactions amount to Interstate sale under the CST Act: (i) Sale of Goods from one state to another. (ii) Sale of goods within the state, but the goods pass through the territory of another state.
3. Q19 State whether the following purchases are eligible for set off under the MVAT Act: (i) Purchase of Goods as Packing Material. (ii) Purchase of Taxfree Goods as inputs for manufacturing taxable goods. (iii) Purchase of Taxable goods for resale.

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

1. Q20 State how the residential status of an assessee is determined and discuss how it affects the scope of total income.
2. Q21 Discuss various authorities under the MVAT Act.
3. Q22 Discuss any three deductions under Chapter VI-A of the Income Tax Act.
4. Q23 Discuss "Sale or purchase in the course of export" and "Sale or purchase outside the state" under the CST Act.
5. Q24 Discuss the provisions relating to registration under the MVAT Act.
6. Q25 Explain how income under the head "Salaries" is computed.

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