LLB 3 Years Sem 4 Taxation Laws Nov 2011 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B. Answer the questions as per instructions given below

1. Q1 Write short answer (Not more than two sentence) :— 20 marks
   • (a) What is cost of acquisition under Income Tax Act ?
   • (b) Define Dealer under VAT Act
   • (c) How to determine the residential status of an Individual under Income Tax Act ?
   • (d) What is gross total income under Income Tax Act ?
   • (e) Define place of Business under VAT Act
   • (f) Define Goods under VAT Act
   • (g) Define Business under Central Sales Tax Act
   • (h) Define Appropriate State under Central Sales Tax Act
   • (i) What is Capital Receipt under Income Tax Act ?
   • (j) When is Wealth Tax payable by as Assesee under Wealth Tax Act ?
2. Q2 Write short notes (any four) 20 marks
   • (a) Return of Income under Income Tax Act Wealth Tax Assessment under Wealth Tax Act
   • (c) Clubbing of Income under Income Tax Act
   • (d) Sales Price under VAT Act
   • (e) Dealer under Central Sales Tax
   • (f) Appeal under Income Tax Act
3. Q3 Solve the following with 12 marks
   • (a) As on 31-03-2010 Mr. 'A' owned gold and jewellery worth more than Rs. 30 lakhs. Notice is issued to Mr. 'A' for payment of Wealth Tax Whether the following transaction are regarded as sales under Central Sales
   • (i) Transfer of property in goods involved in execution of Work Contract
   • (ii) Delivery of goods on hire purchases
   • (c) Whether the following person are liable to be registered as Dealer under
4. Q4 Answer the following elaboratory. ‘ (a) Explain the different kind of Assessment under Income Tax Act 48 marks
   • (b) Discuss the provisions of Income Tax Act in regard to payment of Advance Tax
   • (c) Discuss Return of Wealth and explain wealth escaping assessment under
   • (d) Discuss the scheme of taxation under Central Sales Tax Act
   • (e) Discuss the powers and function of Sales Tax Authority under VAT Act. 4
   • (f) Discuss the provision relating to settlement commission under Income Tax Act
   • (31) wet ?
   • (a) of
   • (31) fe. of. 30

Read from the scan above, so a character or two may differ. The scan is the original.