Mumbai University Solved Question Papers
Taxation Laws
Previous Year Question Paper with Solution
BLS LLB 5 Years · Sem 8
Nov 2019 Examination
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BLS LLB 5 Years Sem 8 Taxation Laws Nov 2019 Question Paper with Solutions
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First published on munotes.in on 24 October 2026.
Published by munotes.in, Mumbai.
Model answers written and edited by the munotes.in editorial desk.
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The University does not publish an official answer key for this paper. The answers in this volume are model answers, written to show how a full-mark answer is built. They are a study aid, not an authority on what an examiner marked.
The question paper reproduced here is the paper as set by the University of Mumbai at the Nov 2019 examination.
The law in these answers is stated as at October 2026. The Income-tax Act, 2025 replaced the Act of 1961 from 1 April 2026; each answer gives the 1961 section the paper asks for, with the 2025 section beside it. No wealth-tax is charged for the assessment year 2016-17 or any later year (section 3(2) of the Wealth-tax Act, as amended in 2015). Since 1 July 2017 the Maharashtra VAT Act covers only liquor and a few petroleum products, and the Central Sales Tax Act six goods; other goods are taxed under the GST Acts of 2017. The central sales tax rate on sales against Form C has been 2 per cent since 1 June 2008, though section 8(1) still prints 3 per cent. The standard deduction from salary, withdrawn from 2005-06 to 2018-19, is now Rs 50,000, or Rs 75,000 under the new regime.
Contents
The questions below are the paper as the University of Mumbai set it at the Nov 2019 examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the Nov 2019 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.
Duration 3 hours · Total marks 100 · 25 questions answered
Instructions printed on the paper
- N.B: Answer the questions as per instruction. Figures to the right indicate full marks allotted.
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
Q.1
Q.1: Write Short Answers, not more than two sentences
20 Marks - 2 marks each
(a)What is "Self Occupied Property" under the Income Tax Act?[2]
Answer
A self-occupied property is a house that the owner occupies for his own residence. Since 1 April 2025 it also covers a house he cannot actually occupy for any reason. Before that, the reason had to be his work in another place. Its annual value is nil (section 23(2) of the Income-tax Act, 1961; section 21(6) of the Income-tax Act, 2025).
The rules.
- Two houses at most. The owner may treat up to two houses as self-occupied, at his choice. Any other house is valued as if let, at its expected rent (section 23(4)).
- Not let, no other benefit. The relief is lost if the house, or any part of it, is actually let during the year. It is also lost if the owner gets any other benefit from it (section 23(3)).
- No 30 per cent deduction. Since the annual value is nil, the standard deduction under section 24(a) is also nil.
- Interest only. Interest on a loan to buy or build it is deductible up to Rs 2,00,000 a year under section 24(b). The limit is Rs 30,000 for a repair loan or late construction. The result can be a loss.
- New regime. Under section 115BAC no interest is allowed on a self-occupied house, so its income is simply nil.
Example. Priya lives in her own flat in Thane and owns another in Pune that stands empty. She may treat both as self-occupied, and both have a nil annual value. A third flat she keeps empty would be valued as if let.
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