Search for Important Questions

Important Questions for "Income Tax Law":

[1]

  1. Distinguish between tax planning and tax evasion. What are the objectives and advantages of tax planning?
  2. How is residence of an assessee determined for income tax purposes? Explain the incidence of residence on tax liability.
  3. Define annual value and state the deductions allowed from the annual value in computing income from house property.

[2]

  1. Define tax avoidance and tax evasion.
  2. Discuss the treatment under Income Tax Act, 1961 of Tax-Free Government Securities and Tax-Free Non-Government Securities.
  3. Distinguish between taxable perquisites and tax-free perquisites giving examples.

[3]

  1. Who is an 'Assessee' as per Income Tax Act, 1961?
  2. What are exempted perquisites in case of a salaried employee?
  3. Explain the provisions of Income Tax Act, 1961 relating to provident funds for salaried employees.

[4]

  1. What are Assessment Year and Previous Year?
  2. What are some types of income that do not form part of total income?
  3. Explain the concept of Interest on Pre-construction Period.

[5]

  1. Explain the residential status of HUF and Individual.
  2. Explain the provision of Interest on Pre-construction period with a suitable example.
  3. Describe the provisions specified under Sections 80C, 80D, and 80U.

[6]

  1. When was income tax law not amended?
  2. What is not included in net proceeds?
  3. Which article deals with the finance commission?

[7]

  1. Amendments in Income Tax Law have been so frequent that it is beyond common man's approach. Comment on the relevance of this statement.
  2. What is 'Gross Total Income'?
  3. Tax evasion is violation of law while the tax avoidance is not. Discuss. What are the provisions in Income-Tax Act, 1961 to cope with tax avoidance?

[8]

  1. State briefly the history of Income Tax Law in India.
  2. What do you mean by Capital gains? How are capital gains calculated?
  3. How is income from business computed and what deductions are allowed under Income Tax Act 1961?

[9]

  1. Discuss the provisions for settlement of grievances under Income Tax Law.
  2. Write short notes on Central Board of Direct Taxes.
  3. What do you mean by capital gains? What are the essentials of capital gains?

[10]

  1. State briefly the history of Income Tax Law in India.
  2. What is the difference between tax and fees?
  3. Write a note on the scope of the doctrine of Inter-Government Tax Immunities.

[11]

  1. Distinguish between tax avoidance and tax evasion.
  2. How is the residence of an assessee determined for income tax purpose? Explain the incidence of residence on tax liability.
  3. Compute taxable income from other sources of Mrs. Renu for the assessment year 2015-16 based on provided particulars.

[12]

  1. Write short note on Deemed Assessee.
  2. Differentiate between Tax Planning and Tax Avoidance, Tax Avoidance and Tax Evasion, Tax Planning and Tax Management.
  3. What do you understand by Agricultural Income? Also explain the various kinds of agricultural income in detail.

[13]

  1. Distinguish between 'Tax Planning and Tax Evasion'.
  2. Discuss the provisions of Income Tax Act regarding exemption of Gratuity and House Rent Allowance.
  3. Compute taxable income from salary for the assessment year 2019-20 based on the particulars of Mr. Manoj's income.

[14]

  1. Define agricultural income. Give examples of non-agricultural income.
  2. Tax Liability depends upon the residential status of an assessee. Explain in detail.
  3. Compute taxable income from salary for the assessment year 2019-20 based on the particulars of Mr. Suresh.

[15]

  1. How is the cost of acquisition determined for a Capital Asset?
  2. Compute the total income of Dr. Atar Singh for the assessment year 2020-21 based on his house ownership and employment details.
  3. Discuss the types of depreciation. Explain additional depreciation and the provisions of the Income Tax Act, 1961, with regard to additional depreciation.

[16]

  1. Write short note on 'Previous Year'.
  2. Explain the concept of 'Person and Assessee'.
  3. Discuss the deduction under Section 80G of Income Tax Act 1961.

[17]

  1. Distinguish between 'Exemptions' and 'Deductions' under Income Tax Act 1961.
  2. R acquired a residential house on 1/9/1998 for Rs. 1,00,000. Compute the capital gain for the A.Y. 2021-22 based on the given details.
  3. Explain the following Deductions: (a) Section 80 G, (b) Section 80 TTA, (c) Section 80 C.

[18]

  1. Distinguish between Tax Avoidance and Tax Planning.
  2. Write short note on 'Rebate U/S 87A of Income Tax Act 1961'.
  3. Explain computation of 'NAV' as per Income Tax Act 1961 in case of let-out house property, self-occupied house property, and deemed to be let-out house property.

GKPAD.COM by SK Yadav | Disclaimer

free counter