LLB III (Semester Examination 2017
PRINCIPLES OF TAXATION LAW
Day Date: Friday, 21-04-2017 Max. Marks: 70
Time: 10.30 AM to 01.00 PM
N.B. All questions are compulsory .
Figures to the right indicate full marks.
Q.1 Multiple choice questions. 14
Section 4 of Income Tax Act deals with the provisions of
Change of income tax Heads of income
Salaries Income from House property
Section of Income tax Act, provides income which are
example from tax.
Section 10 Section 15 Section 16 Section 17
are exempted from tax
Daily allowance to M.Ps and M.L.A's
Scholarship for Education
Agricultural Income
All the above
The term 'Person' includes under Income Tax Act.
Firm A local Authority
A and B None of the above
The section of Income Tax Act enumerates the incomes
taxable under the head 'Income from Business and Profession'.
Section 22 Section 28 Section 20 Section 21
are allowed as deduction under the Profits and gains of
Business or Profession.
Expenditure or scientific research
Acquisition of patents and copyrights
Site restoration fund
All the above
If the Units of UTI, units of Mutual Fund is held for more than 12
months immediately prior to its transfer, it is known as
Short term Capital Asset Long term Capital Asset
A and B None of the above
Page 1 of 3
As per Article State Government has exclusive power
to make laws for state with respect to any matter enumerated in
list II of seventh schedule to Constitution of India.
Article 246 Article 246
Article 246 None of the above
are merged into the Maharashtra value Added Tax
2002
BST Act 1959
Works Contract Act 1989
Lease Act 1985 and Bombay Motor spirit Taxation Act
All the above
10) The dealer has to apply for in the Certificate of
Registration where a registered dealer is a trustee of a trust,
and there is change in the trustees there of, under MVAT 2002
cancellation amendment
revocation None of the above
11) Under MVAT, set of is also referred to as and it is
granted to any registered dealer in respect of any sales tax
paid on his purchase as per Act.
Output tax credit Input tax credit
A and B None of the above
12) A state in India can levy state sales tax on sales
Sales in the course of interstate trade and commerce
Sales outside the state
Sales in the course of import or export
None of the above
13) Section of Central sales Tax Act, provides that every
dealer liable to pay tax under the CST Act shall make an
application for registration to prescribed authority.
Section 7 Section 5
Section 4 None of the above
14) Service Tax is tax imposed by the Union Government.
Direct tax Indirect tax
Income tax None of the above
Q.2 Explain income and incomes exempt from income i.e. not included in
total income under section 10 of Income Tax Act.
14
Q.3 Explain provisions relating to the taxability, Returns and Assessment
under Maharashtra value added Tax Act 2002
14
OR
Explain meaning of sale and explain provisions of sale in the course
of inter-state trade and commerce.
Page 2 of 3
Q.4 Write short Notes (Any 08
Registration under MVAT Act
Constitutional Provisions relating to indirect tax
Income from House Property
Deductions from total income under Income Tax Act. 06
Q.5 Write short answer (any 14
Audit under MVAT Act
Change of tax under CST Act
Taxable service
Penalties under service tax
Cancellation of Registration under CST
Penalty for false certificate or declaration under CST Act
Exemption under CST
Centralized Registration under service tax
Concept of rate of income tax
10) Clubbing of income meaning