LL.B. (Three Years) Sem 4 Taxation Laws Jun 2023 60/40 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: 1. Ensure that you have received the Correct Question Paper. 2. Do not reveal your identity anywhere on the Answer Sheet. 3. Provide Examples/Illustrations/Citations wherever required/needed.

SECTION I - Q.1: Answer any six of the following (12 Marks - 2 marks each)

1. Q1 What is 'Tax deduction at source' under the Income Tax Act?
2. Q2 Define Long Term Capital Asset as per the provisions of the Income Tax Act.
3. Q3 What is Self Assessment as per the provisions of the Income Tax Act?
4. Q4 What is Indirect Taxation?
5. Q5 Define Income from Other Sources.
6. Q6 Explain the term 'Person' as defined under the Maharashtra State Professional, Trade, Callings and Employment Act, 1975.
7. Q7 What do you understand by Savings based Deductions?
8. Q8 Define Assessment Year under the Income Tax Act.
9. Q9 What are the differences between an 'Assessee' and a 'Person' as per the provisions of the Income Tax Act?
10. Q10 When and why was GST introduced in India?

SECTION II - Q.2: Answer any two of the following (12 Marks - 6 marks each)

1. Q11 Explain the Procedure for Assessment under the Income Tax Act, 1961.
2. Q12 What is Dual GST Model? Explain its Features.
3. Q13 Explain the concept of a House Property Lease Transaction & Taxation process thereof.
4. Q14 Explain Professional Tax and its applicability.

SECTION III - Q.3: Answer any two of the following (12 Marks - 6 marks each)

1. Q15 Discuss and critically analyse the Vodafone Limited versus Union of India case.
2. Q16 Ms. Amrita incurred a loss in Speculative Business. Advise whether she can adjust this loss against the profit of her normal business? Critically analyse the facts of the matter.
3. Q17 Mr. Akash received a pension of Rs. 10,000 from his former employer and a Salary of Rs. 50,000 from his current employer in the Previous Year. What are the provisions for chargeability of income received under the head 'Salary' as per the provisions of the Income Tax Act of India? Also elaborate, giving reasons, as to which of the incomes as earned by Mr. Akash will be chargeable in the Previous Year and under which head.
4. Q18 Ms. Sarita supplied goods worth Rs. 30,000 to Mr. Amol. Discuss with reasons whether this will be considered as a Taxable event under the GST Act.

SECTION IV - Q.4: Answer any two of the following (24 Marks - 12 marks each)

1. Q19 Discuss and analyse the salient provisions of the GST Act.
2. Q20 Discuss and analyse the various provisions of the Maharashtra State Professional, Trade, Callings and Employment Act, 1975.
3. Q21 Elaborately discuss the various provisions related to determining the Residential Status of different classes of Assessees as per the provisions of the Income Tax Act.
4. Q22 Write a detailed analysis of the various deductions and exemptions available under the various provisions of the Income Tax Act.

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