LLB 3 Years Sem 4 Taxation Laws Nov 2019 Question Paper - Mumbai University | munotes

Questions asked in this paper

• Figures to the right indicate full marks allotted

1. Q1 Write Short Answers (Not more than two sentences) What is “Self Occupied Property” under the Income Tax Act? 20 marks
   • b) Define the term “Person” under the Income Tax Act
   • c) Write any two intangible assets eligible for depreciation
   • d) What is “Defective Return" under the Income Tax Act?
   • e) What is “Resale” under the MVAT Act?
   • f) Define “Appropriate State” under the CST Act What is “Jewellery” under the Income Tax Act?
   • h) What is “Charitable Purpose” under the Income Tax Act?
   • i) Define “Goods" under the MVAT Act
   • j) Define “Co-operative Society" under the Income Tax Act
2. Q2 Write short notes on (any four):— 20 marks
   • a) Agricultural Income
   • b) Presumptive Income for Professionals
   • c) Tax Invoice
   • d) Loss under the Income Tax Act
   • e) Collection of Tax at Source
   • f) Sale Price and Purchase Price under the MVAT Act
3. Q3 Answer with giving reasons {any two):— 12 marks
   • a) 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
   • b) State whether the following purchases are eligible for set off under the MVAT Act
   • i) of inputs for manufacture of taxable goods ll) Purchases of taxable goods for resale Mr, Mohan has sought your advice on the following matters —
   • i) He-has sold some shares resulting in loss. He wants to adjust this loss against his
   • ii) has received arrears of salary for last five years. Is there any way to claim relief from tax liability ?
4. Q4 Answer the following elaboratory (any 48 marks
   • a) What is residential status? State how it is determined and discuss its effect on the provisions relating to computation of income under the head
   • c) Discuss the provisions relating to audit under the MVAT Act
   • d) Explain “Sale or purchase in the course of interstate trade or commerce” and “Sale
   • e) Define When a dealer becomes liable to pay tax under the MVAT Act?
   • f) Explain any three deductions under Chapter VI-A
5. Q2 Get
6. Q9 Het
   • a) ” ay

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