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Important Questions for "income tax law":

[1]

  1. How is residence of an assessee determined for income tax purposes? Explain the incidence of residence on tax liability.
  2. What do you mean by set off and carry forward of losses? Explain the provisions regarding set off and carry forward of losses under the Income Tax Act, 1961.
  3. Write short notes on any two of the following: Agricultural income, Perquisites, Depreciation, Exempted incomes, Deduction in respect of donations.

[2]

  1. Discuss the treatment under Income Tax Act, 1961 of Tax-Free Government Securities and Tax-Free Non-Government Securities.
  2. Discuss the scope of total income on the basis of residence. When is an individual said to be resident and not-ordinarily resident?
  3. Give examples of incomes which do not form part of total income under Income Tax Act, 1961.

[3]

  1. What are exempted perquisites in case of a salaried employee?
  2. What are the deductions allowed under Section 16 of Income Tax Act, 1961 while calculating taxable income from salary?
  3. What are exempted incomes? Provide examples of any five fully exempted incomes.

[4]

  1. Explain the term Person as per the Income Tax Act.
  2. What is the concept of Gross Annual Value? Provide examples.
  3. Describe deductions specified under Sections 80C to 80U.

[5]

  1. Explain the residential status of HUF and Individual.
  2. Draw the format of capital gain and explain the concept of holding period with a suitable example.
  3. Explain briefly any five incomes which do not form the part of total income.

[6]

  1. When was income tax law not amended?
  2. Which article has been repealed?
  3. At what stage is excise duty imposed?

[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. Explain the transactions which are excluded from the meaning of 'transfer' for the purposes of capital gains.
  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. What is agricultural income? What are its kinds? What are the limits of such income from Income Tax?

[9]

  1. Discuss the provisions for settlement of grievances under Income Tax Law.
  2. Define the term 'Previous year' with an example.
  3. What is meant by short term and long term capital gains? State when the capital gains are exempted.

[10]

  1. State briefly the history of Income Tax Law in India.
  2. What is the difference between tax and fees?
  3. Discuss the offences for which the assessee may be prosecuted under the Income-Tax Act.

[11]

  1. Distinguish between tax avoidance and tax evasion.
  2. Write four such donations for which 50% deductions are allowed U/S 80 G.
  3. Mrs. Rosy sold gold jewellery. Compute Capital Gain for the A.Y. 2016-17 based on provided details.

[12]

  1. Write short note on Deemed Assessee.
  2. Write any three exempted incomes from tax.
  3. Discuss the provisions of deduction under Section 80D.

[13]

  1. Distinguish between exemptions and deductions under Income Tax Act.
  2. Define Transfer. What are the transactions which are not regarded as transfer for computation of capital gains?
  3. Discuss the provisions of set-off and carry forward of losses from business, short-term capital loss, and lottery.

[14]

  1. Define transfer. What are the transactions which are not regarded as transfer for computation of capital gains?
  2. Tax Liability depends upon the residential status of an assessee. Explain in detail.
  3. Explain the provisions of the Income-Tax Act for deductions under Section 80C, Section 80G, and Section 80TTA.

[15]

  1. Explain Standard Deduction versus Section 24(a).
  2. How is the residence of an assessee determined for income-tax purposes? Explain the incidence of residence on tax liability.
  3. Ascertain taxable salaries of Shri Anil Kumar for the assessment year 2020-21 based on his provided financial details.

[16]

  1. Define Agriculture Income. Explain the integration method of calculation of tax on Agriculture income with the help of an example.
  2. Explain the concept of 'Person and Assessee'.
  3. Find out net income of 'J' for Assessment Year 2021-22 under different residential statuses.

[17]

  1. Write short note on Clubbing provisions in case of 'Minor'.
  2. Explain set-off and carry forward of losses in case of (a) Capital Loss, (b) Loss from House Property, (c) Loss from activity of owning and maintaining Race Horses.
  3. Explain provisions of the following under 'Profit and Gains of Business of Profession': Section 44AD, Section 44ADA, Section 44AE.

[18]

  1. Write short note on 'Exceptions to the Assessment Year'.
  2. Define Capital Asset. Also differentiate between long-term capital loss and short-term capital loss along with computation as per Income Tax Act 1961.
  3. Explain computation of income from salary in case of rent-free accommodation, free use of car, and commuted pension if section 115BAC is not opted.

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