LL.B. (Three Years) Sem 4 Taxation Laws Oct 2024 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: Write Short Answers in not more than two sentences, any six (12 Marks - 2 marks each)

1. Q1 What is "Annual Value" under the Income Tax Act?
2. Q2 What is "Short Term Capital Asset" under the Income Tax Act?
3. Q3 What is "Resale" under the MVAT Act?
4. Q4 Define "Importer" under the MVAT Act.
5. Q5 What is Indirect Taxation?
6. Q6 What is "Crossing the Customs Frontiers of India" under the CST Act?
7. Q7 When and why was GST introduced in India?
8. Q8 What is the meaning of "Firm" under the Income Tax Act?
9. Q9 What is Self-Assessment as per the provisions of the Income Tax Act?
10. Q10 State when an individual is treated as resident in India.

SECTION II - Q.2: Write short notes on any two (12 Marks - 6 marks each)

1. Q11 Sale and Sale Price under the MVAT Act.
2. Q12 Explain professional Tax and its applicability.
3. Q13 UGST.
4. Q14 Let Out Property.

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

1. Q15 Mr. Sukumar has incurred loss in speculative transactions: (i) Can he adjust this loss against the profit from his normal business? (ii) Analyse the facts of the matter.
2. Q16 State whether the following transactions amount to "Sale" under the MVAT Act: (i) Sale of old capital goods as scrap. (ii) Sale of damaged raw material as scrap. (iii) Sale of finished goods through mercantile agent.
3. Q17 Ms. Nikita supplied goods of Rs. 30,000 to Mr. Avinash. Discuss with reasons whether this will be treated as a taxable event under the provision of the GST Act.
4. Q18 Discuss and critically analyse the Vodafone Limited versus Union of India case.

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

1. Q19 Discuss any three deductions under Chapter VI-A.
2. Q20 Explain and analyse the salient Provisions of the GST Act.
3. Q21 Discuss computation of income under the head "Salaries".
4. Q22 Discuss and analyse the various Provisions of the Maharashtra State Professional, Trade, Callings and Employment Act, 1975.

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