Exam Details
| Subject | elements of direct & indirect taxes | |
| Paper | ||
| Exam / Course | mba | |
| Department | ||
| Organization | Gujarat Technological University | |
| Position | ||
| Exam Date | December, 2018 | |
| City, State | gujarat, ahmedabad |
Question Paper
1
Seat No.: Enrolment
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA SEMESTER 3 EXAMINATION WINTER 2018
Subject Code: 4130504 Date:07/12/2018
Subject Name: Elements of Direct and Indirect taxes
Time: 10:30 AM To 01:30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q.1
Explain the concept of 1. Assessment year 2. Person 3. Association of Persons (AOP).
07
What are the various heads of income? How GTI is calculated for individual?
07
Q.2
What do you mean by 'Allowances' and 'Perquisites'? What is the difference between them? List out any three allowances and any three perquisites available to employees.
07
What is Annual Value? Explain the process of computation of annual value of a house property.
07
OR
Explain the deductions allowed under section 80C, 80CCC, 80D, 80DD and 80E of Income Tax Regulations.
07
Q.3
What are the different categories of residential status? Explain how these categories are determined and affect the tax liability of an assesses?
07
What is Service Tax? Mention any 12 services which are subject to service tax.
07
OR
Q.3
Which persons have to get themselves registered under the Service Tax Rules? What is the procedure for filing of returns?
07
Discuss provision related to "Business Auxiliary Service" as per service tax Act.
07
Q.4
Write a short note on 1. Goods 2. Importer.
07
Explain the concept of Dealers as per Value Added Tax Act.
07
OR
Q.4
Define and explain as per the provisions of VAT. Business manufacture
07
Explain any 7 incomes which are excluded from computation of total Income with brief explanation
07
Q.5
Explain 'incidence of tax' under the VAT Act with explanation and examples.
07
What is Previous year? Explain the provision of Previous year for undisclosed sources of income as per Income Tax Act.
07
OR
Q.5
Every financial year is a previous year as well as an assessment year. Discuss
07
Explain the meaning of Business and Profession u/s 2 and 2(36). Explain any four general principles for computing business income in detail.
07
Seat No.: Enrolment
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA SEMESTER 3 EXAMINATION WINTER 2018
Subject Code: 4130504 Date:07/12/2018
Subject Name: Elements of Direct and Indirect taxes
Time: 10:30 AM To 01:30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q.1
Explain the concept of 1. Assessment year 2. Person 3. Association of Persons (AOP).
07
What are the various heads of income? How GTI is calculated for individual?
07
Q.2
What do you mean by 'Allowances' and 'Perquisites'? What is the difference between them? List out any three allowances and any three perquisites available to employees.
07
What is Annual Value? Explain the process of computation of annual value of a house property.
07
OR
Explain the deductions allowed under section 80C, 80CCC, 80D, 80DD and 80E of Income Tax Regulations.
07
Q.3
What are the different categories of residential status? Explain how these categories are determined and affect the tax liability of an assesses?
07
What is Service Tax? Mention any 12 services which are subject to service tax.
07
OR
Q.3
Which persons have to get themselves registered under the Service Tax Rules? What is the procedure for filing of returns?
07
Discuss provision related to "Business Auxiliary Service" as per service tax Act.
07
Q.4
Write a short note on 1. Goods 2. Importer.
07
Explain the concept of Dealers as per Value Added Tax Act.
07
OR
Q.4
Define and explain as per the provisions of VAT. Business manufacture
07
Explain any 7 incomes which are excluded from computation of total Income with brief explanation
07
Q.5
Explain 'incidence of tax' under the VAT Act with explanation and examples.
07
What is Previous year? Explain the provision of Previous year for undisclosed sources of income as per Income Tax Act.
07
OR
Q.5
Every financial year is a previous year as well as an assessment year. Discuss
07
Explain the meaning of Business and Profession u/s 2 and 2(36). Explain any four general principles for computing business income in detail.
07
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