LL.B. (Three Years) Sem 4 Taxation Laws Jun 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 Define the term "Previous Year" under the Income Tax Act.
2. Q2 State how the residential status of a firm is determined under the Income Tax Act.
3. Q3 What is "Short Term Capital Asset" under the Income Tax Act?
4. Q4 What is the meaning of "Resale" under the MVAT Act?
5. Q5 What is the meaning of "Declared Goods" under the CST Act?
6. Q6 State any two incomes included under the head "Salaries".
7. Q7 What is "Self Assessment Tax" under the Income Tax Act?
8. Q8 What is "Cost of Improvement" under the Income Tax Act?
9. Q9 What is the meaning of "Place of Business" under the MVAT Act?
10. Q10 What is "Collection of tax at source" under the Income Tax Act?

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

1. Q11 Deemed Let Out Property.
2. Q12 Income.
3. Q13 Sale Price and Purchase Price under the MVAT Act.
4. Q14 Business Audit under the MVAT Act.
5. Q15 Return of Income.
6. Q16 Perquisites.

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

1. Q17 (i) Mr. John is treated as resident in India. Whether he will have to pay tax on his income earned abroad? (ii) Mr. Sohan has received an amount of Rs. 20,000 from his relatives as a gift. Discuss the taxability of this amount.
2. Q18 State whether the following persons are "Dealer" under the MVAT Act: (i) Retailer. (ii) Wholesaler. (iii) Manufacturer.
3. Q19 State whether the following payments are eligible for deduction u/s 80C: (i) Life Insurance Premium. (ii) Health Insurance Premium. (iii) Fire Insurance Premium.

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

1. Q20 Discuss any six incomes that are excluded from total income.
2. Q21 Explain "Sale or purchase in the course of interstate trade or commerce" and "Sale or purchase in the course of export".
3. Q22 Explain various authorities under the MVAT Act.
4. Q23 Explain the provisions relating to set off under the MVAT Act.
5. Q24 Explain computation of Long Term Capital Gain.
6. Q25 Discuss the provisions relating to computation of income under the head "Income from Other Sources".

Read from the scan above, so a character or two may differ. The scan is the original.