Exam Details
| Subject | principles of taxation law | |
| Paper | ||
| Exam / Course | b.a. ll.b. | |
| Department | ||
| Organization | Hidayatullah National Law University | |
| Position | ||
| Exam Date | November, 2017 | |
| City, State | chhattisgarh, raipur |
Question Paper
I.D. END TERM EXAMINATION, NOVEMBER 2017 B.A.LL.B. (HONS.) SEMESTER-V Principles of Taxation Law Max. Marks: 60 Time Allowed: 3:00 Hrs. Note: Answer five questions including Question No. 1 which is compulsory. The number of marks carried by each question is indicated at the end of the question.
1. Answer the following (each answer should be in approximately 100 words) (Marks a. Distinguish between Cess and Surcharge. b. Explain Regulatory fee and Compensatory Fee. c. Is salary of a partner from Firm taxable under the head Salary? d. What is Tax Planning? e. Under what head is rent received by an employer from letting out residential quarters to his employees taxable? f. Is income from fisheries an agricultural income? g. What is Customs Duty? h. When is Integrated Goods and Service Tax (IGST) levied? i. What is an indirect Tax? j. Is Tax avoidance illegal?
2. Explain the term Previous Year. An assessee commences his business on 1st February, 2017, 1st September, 2017. What will be the first Previous Year and Assessment Year for the business in each case? (Marks
3. Incidence of tax varies according to the residential status of the assessee. Explain. (Marks 06) (b)Ascertain the residential status of the assessees in the following cases for the Assessment Year 2017-18: i. Mohan, a citizen of India left for U.S.A. on 18th April, 2016 and did not return to India till the end of the Financial Year 2016-17. ii. Ghanshyam, a citizen of India left for U.S.A. for a job on September 10, 2016. He has never left India earlier. (Marks
4. What is meant by 'annual value' of house property? Mr. Deepak owns a house property. He has given it on rent to Mr. Shyam who pays annually Rs. 2 Lakh as rent of the property and Rs. 50,000 for various services like lift, security, air-conditioning etc. Will payment of Rs. 50,000 be added in computing income from house property? (Marks
5. What are the conditions for allowing Depreciation Allowance? Explain the term business as defined under the Income Tax Act, 1961. (Marks
6. (a)What is meant by perquisites? Give some examples of taxable perquisites under the Income Tax Act, 1961. (b)What were the recommendations of Wanchoo Committee to fight tax evasion? (Marks
7. Explain the power of search and seizure as laid down under the Income Tax Act. What are the Income Tax authorities? (Marks
1. Answer the following (each answer should be in approximately 100 words) (Marks a. Distinguish between Cess and Surcharge. b. Explain Regulatory fee and Compensatory Fee. c. Is salary of a partner from Firm taxable under the head Salary? d. What is Tax Planning? e. Under what head is rent received by an employer from letting out residential quarters to his employees taxable? f. Is income from fisheries an agricultural income? g. What is Customs Duty? h. When is Integrated Goods and Service Tax (IGST) levied? i. What is an indirect Tax? j. Is Tax avoidance illegal?
2. Explain the term Previous Year. An assessee commences his business on 1st February, 2017, 1st September, 2017. What will be the first Previous Year and Assessment Year for the business in each case? (Marks
3. Incidence of tax varies according to the residential status of the assessee. Explain. (Marks 06) (b)Ascertain the residential status of the assessees in the following cases for the Assessment Year 2017-18: i. Mohan, a citizen of India left for U.S.A. on 18th April, 2016 and did not return to India till the end of the Financial Year 2016-17. ii. Ghanshyam, a citizen of India left for U.S.A. for a job on September 10, 2016. He has never left India earlier. (Marks
4. What is meant by 'annual value' of house property? Mr. Deepak owns a house property. He has given it on rent to Mr. Shyam who pays annually Rs. 2 Lakh as rent of the property and Rs. 50,000 for various services like lift, security, air-conditioning etc. Will payment of Rs. 50,000 be added in computing income from house property? (Marks
5. What are the conditions for allowing Depreciation Allowance? Explain the term business as defined under the Income Tax Act, 1961. (Marks
6. (a)What is meant by perquisites? Give some examples of taxable perquisites under the Income Tax Act, 1961. (b)What were the recommendations of Wanchoo Committee to fight tax evasion? (Marks
7. Explain the power of search and seizure as laid down under the Income Tax Act. What are the Income Tax authorities? (Marks
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