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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. Write short notes on any two of the following: Agricultural income, Perquisites, Depreciation, Exempted incomes, Deduction in respect of donations.

[2]

  1. Who is called assessee as per Income Tax Act, 1961?
  2. When is a company said to be non-resident?
  3. What do you mean by income from other sources? Explain the items included under the head 'income from other sources'.

[3]

  1. What are exempted incomes? Provide examples of any five fully exempted incomes.
  2. What do you mean by short-term capital gains and long-term capital gains? What are exempted capital gains?
  3. What do you mean by set off and carry forward of losses? Explain the provisions of Income Tax Act, 1961 relating to set off and carry forward of losses.

[4]

  1. Explain the term Person as per the Income Tax Act.
  2. How is the income and tax liability of an individual computed?
  3. What are Long-term Capital Gains and Short-term Capital Gains?

[5]

  1. What are House Rent Allowances?
  2. Explain the residential status of HUF and Individual.
  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 of the constitution states that no tax shall be levied or collected except by the authority of law?
  3. Which is not a direct tax?

[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 are the tests to determine the residential status of an individual?
  3. Define 'Salary'. State with examples incomes which are included in salary.

[8]

  1. State briefly the history of Income Tax Law in India.
  2. What are perquisites? What perquisites are included in the salary income of an employee?
  3. Define Salary. State with examples incomes which are included in Salary.

[9]

  1. Discuss the provisions for settlement of grievances under Income Tax Law.
  2. What is a Belated Return?
  3. What is Clubbing of Income? What are the tax implications of such Clubbing of Income?

[10]

  1. State briefly the history of Income Tax Law in India.
  2. Write a note on the scope of the doctrine of Inter-Government Tax Immunities.
  3. What are perquisites? What perquisites are included in the salary income of an employee? Enumerate tax free perquisites.

[11]

  1. Write a short note on Permanent Account Number.
  2. Write four such donations for which 50% deductions are allowed U/S 80 G.
  3. Enumerate expenses which are allowed in computing taxable profits of a businessman also state expenses or losses which are not admissible.

[12]

  1. Write short note on Deemed Assessee.
  2. Discuss the provisions of deduction under Section 80D.
  3. What do you mean by income? Also write the different heads of income.

[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. Explain the provisions of the Income-Tax Act for deductions under Section 80C, Section 80G, and Section 80TTA.

[15]

  1. Explain the meaning of Tax-free Non-Government Securities.
  2. Explain the meaning of Less-Tax Government Securities.
  3. Compute the total income of Dr. Atar Singh for the assessment year 2020-21 based on his house ownership and employment details.

[16]

  1. Write short note on 'Previous Year'.
  2. Compute the total income and tax liability for Mr. Y for the Assessment Year 2021-22 based on the given particulars.
  3. Discuss the deduction under Section 80G of Income Tax Act 1961.

[17]

  1. Write short note on 'Assessment Year'.
  2. Explain provisions of the following under 'Profit and Gains of Business of Profession': Section 44AD, Section 44ADA, Section 44AE.
  3. 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.

[18]

  1. Write short note on clubbing provisions in case of 'Spouse'.
  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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