Download PTU (Punjab Technical University) BBA (Bachelor of Business Administration) 4th Semester 71207 INCOME TAX ACT Last 10 Years 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011 and 2010 Previous Question Papers.
1 | M- 71207 (S12)-2249
Roll No. Total No. of Pages : 03
Total No. of Questions : 09
BBA (2013 to 2017)/B.Sc Business Economics (BBE)(2015 to 2017)
(Sem.?4)
INCOME TAX ACT
Subject Code : BBA/BBE-405
M.Code : 71207
Time : 3 Hrs. Max. Marks : 60
INSTRUCTION TO CANDIDATES :
1. SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks
each.
2. SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
3. Each Sub-section contains TWO questions carrying TEN marks each.
4. Student has to attempt any ONE question from each Sub-section.
SECTION-A
1. Write short notes the followings :
a) Assesee in-default
b) Casual income
c) Profit in lieu of salary
d) Fair Rental Value
e) Preliminary Expenses
f) Slump Sale
g) Bond Washing transaction
h) 80U
i) Belated Return
j) TDS
FirstRanker.com - FirstRanker's Choice
1 | M- 71207 (S12)-2249
Roll No. Total No. of Pages : 03
Total No. of Questions : 09
BBA (2013 to 2017)/B.Sc Business Economics (BBE)(2015 to 2017)
(Sem.?4)
INCOME TAX ACT
Subject Code : BBA/BBE-405
M.Code : 71207
Time : 3 Hrs. Max. Marks : 60
INSTRUCTION TO CANDIDATES :
1. SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks
each.
2. SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
3. Each Sub-section contains TWO questions carrying TEN marks each.
4. Student has to attempt any ONE question from each Sub-section.
SECTION-A
1. Write short notes the followings :
a) Assesee in-default
b) Casual income
c) Profit in lieu of salary
d) Fair Rental Value
e) Preliminary Expenses
f) Slump Sale
g) Bond Washing transaction
h) 80U
i) Belated Return
j) TDS
2 | M- 71207 (S12)-2249
SECTION-B
UNIT-I
2. How will you determine the residential status of an individual person?
3. Discuss any 20 incomes which are exempted from tax.
UNIT-II
4. Mr. Gaurav furnishes the following details of his salary income :
Salary 1,50,000
Encashment of earned leave 10,000
Uniform allowance 8,000
Actual expenditure 10,000
Research allowance 3,000
Actual expenditure 3,500
Scholarship granted to his son by the university 4,800
Education allowance for his grand daughter 3,000
Education allowance for his son studying outside India 3,000
Loan at concessional rate to buy a car @ 8.75% p.a. 1,80,000
SBI rate is 11.25% p.a.
date of loan is 1.4.2017
Helper allowance 10,000
Actual expenditure 9,000
Professional tax paid by the employer 1,000
Refreshment during office hours at an estimated cost of 200 p.m. 2,400
Employer paid his club bills 3,000
Employer contribution to R.P.F. is 14% of salary
H.R.A. received by him is 1600 p.m. and rent paid by him 2000 p.m.
Compute his taxable income under the head salary for the assessment year 2018-19.
5. Define annual value and state the deductions that are allowed from net annual value while
calculating income from House property.
FirstRanker.com - FirstRanker's Choice
1 | M- 71207 (S12)-2249
Roll No. Total No. of Pages : 03
Total No. of Questions : 09
BBA (2013 to 2017)/B.Sc Business Economics (BBE)(2015 to 2017)
(Sem.?4)
INCOME TAX ACT
Subject Code : BBA/BBE-405
M.Code : 71207
Time : 3 Hrs. Max. Marks : 60
INSTRUCTION TO CANDIDATES :
1. SECTION-A is COMPULSORY consisting of TEN questions carrying TWO marks
each.
2. SECTION-B consists of FOUR Sub-sections : Units-I, II, III & IV.
3. Each Sub-section contains TWO questions carrying TEN marks each.
4. Student has to attempt any ONE question from each Sub-section.
SECTION-A
1. Write short notes the followings :
a) Assesee in-default
b) Casual income
c) Profit in lieu of salary
d) Fair Rental Value
e) Preliminary Expenses
f) Slump Sale
g) Bond Washing transaction
h) 80U
i) Belated Return
j) TDS
2 | M- 71207 (S12)-2249
SECTION-B
UNIT-I
2. How will you determine the residential status of an individual person?
3. Discuss any 20 incomes which are exempted from tax.
UNIT-II
4. Mr. Gaurav furnishes the following details of his salary income :
Salary 1,50,000
Encashment of earned leave 10,000
Uniform allowance 8,000
Actual expenditure 10,000
Research allowance 3,000
Actual expenditure 3,500
Scholarship granted to his son by the university 4,800
Education allowance for his grand daughter 3,000
Education allowance for his son studying outside India 3,000
Loan at concessional rate to buy a car @ 8.75% p.a. 1,80,000
SBI rate is 11.25% p.a.
date of loan is 1.4.2017
Helper allowance 10,000
Actual expenditure 9,000
Professional tax paid by the employer 1,000
Refreshment during office hours at an estimated cost of 200 p.m. 2,400
Employer paid his club bills 3,000
Employer contribution to R.P.F. is 14% of salary
H.R.A. received by him is 1600 p.m. and rent paid by him 2000 p.m.
Compute his taxable income under the head salary for the assessment year 2018-19.
5. Define annual value and state the deductions that are allowed from net annual value while
calculating income from House property.
3 | M- 71207 (S12)-2249
UNIT-III
6. From the following P&L Account, calculate income from business of Mr. Dhoni.
Particulars Rs. Particulars Rs.
To general expenses 20,000 By Gross Profit 5,00,000
To bad debts 25,000 By sundry receipts 50,000
To advance income tax 24,000 By bad debts recovered (earlier 12,500
allowed as deduction)
To salary to staff 40,000 By interest on debentures(gross) 40,000
To drawings 40,000 By interest on deposit with a 25,000
company(gross)
To interest on own capital 24,000
To advertisement expenses 9,000
To excise duty 12,000
To expenditure on acquisition of 10,000
patent right (in 2017-18)
To Net Profit 4,23,500
6,27,500 6,27,500
Other Information :
a. General expenses includes Rs. 2,300 spend as marriage expenses by the proprietor.
b. Advertisement expenses were spent on 31
st
August 2017.
c. Income of Rs. 12,000 accrued during the PY 2017-18 is not recorded in the P&L
Account.
d. An expenditure of Rs. 1,000 relating to business is not shown in P&L Account.
e. The proprietor owns two houses from which he gets the income of 1,80,000.
7. What are the provisions for set off losses and carry forward of losses?
UNIT-IV
8. What are the charitable donations? Explain the provisions in respect of donation under
section 80G.
9. What are the various authorities under income tax act for administration of Tax? Explain
their powers.
NOTE : Disclosure of Identity by writing Mobile No. or Making of passing request on any
page of Answer Sheet will lead to UMC against the Student.
FirstRanker.com - FirstRanker's Choice
This post was last modified on 07 December 2019