LL.B. (Three Years) Sem 4 Taxation Laws Jun 2018 Set 2 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: 1. Answer the questions as per instruction. 2. 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 State how the residential status of a company is determined under the Income Tax Act.
2. Q2 What is the meaning of the term "Assessee" under the Income Tax Act?
3. Q3 What is "Charitable Purpose" under the Income Tax Act?
4. Q4 Who is an importer under the MVAT Act?
5. Q5 What is "Long Term Capital Gain"?
6. Q6 What is "Annual Value" under the Income Tax Act?
7. Q7 What is "Turnover of Sales" under the MVAT Act?
8. Q8 What is "Place of Business" under the CST Act?
9. Q9 What is "Permanent Account Number" under the Income Tax Act?
10. Q10 What is "Business" under the MVAT Act?

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

1. Q11 Self Occupied Property
2. Q12 Goods under the MVAT Act
3. Q13 Return of Income
4. Q14 Collection of Tax at Source under the Income Tax Act
5. Q15 Works Contract under the MVAT Act
6. Q16 Agricultural Income

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

1. Q17 (i) Dr. Vijaykumar, a renowned doctor, delivered some guest lectures in a medical college. Under which head of income, the remuneration for guest lectures is taxable? (ii) Mr. Santoshkumar, a salaried employee incurred some loss in share trading. Whether this loss can be deducted from his salary income for the purpose of taxation?
2. Q18 State whether a firm registered under the MVAT Act can claim set off of tax paid on the purchases of the following goods from their tax liability: (i) Taxable goods purchased as packing material (ii) Taxable goods purchased for resale. (iii) Taxable goods purchased as fuel.
3. Q19 State whether the following transactions amount to "Sale" under the MVAT Act: (i) Stock transfer from head office to branch (ii) Pledge of goods (iii) Lease of goods

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

1. Q20 State the provisions about computation of "Capital Gains"
2. Q21 Explain the provisions relating to clubbing of income.
3. Q22 Define "Dealer". Explain the liability for registration of a dealer.
4. Q23 Explain "Sale or purchase in the course of interstate trade or commerce" and "Sale outside a state".
5. Q24 State the provisions relating to audit under the MVAT Act.
6. Q25 Explain the provisions relating to computation of income under the head "Salaries".

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