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Download OU B.Com 4th Sem Income Tax II Important Questions

Download OU (Osmania University) B.com (Bachelor of Commerce) 4th Sem Income Tax II Important Question Bank For 2021 Exam

This post was last modified on 23 January 2021

OU B.Com 2021 Important Question Bank || Osmania University (Important Questions)


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Subject Title: Income Tax II Prepared by: B Anupreethi
Year: II Semester: IV Updated on: 19.03.19

Unit - I: CAPITAL GAINS

  1. Define Capital gain and explain the method of computing the income under this head.
  2. Explain the provisions of sec 54EC, sec 54G, sec 5GA, sec 54B and 54D?
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  4. Explain about Capital gain on Financial assets?
  5. Define transfer. Explain the transactions which are not considered as transfer u/s 47?
  6. Practise all Illustration problems.
  7. Practise all the exercise problems.

Unit - II: INCOME FROM OTHER SOURCES

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  1. What is Income from other source? Write 15 items of Income which are included under the head Income from Other Source?
  2. Explain the procedure to computation of Income from Interest on Securities and types of Securities?
  3. Explain the provisions regarding “gifts received”?
  4. What are Dividends? Explain the provision regarding “Dividend received”?
  5. Practise all Illustration problems.
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  7. Practise all the exercise problems.

Unit - III: CLUBBING AND AGGREGATION OF INCOME

  1. Briefly describe the income of other persons which are included in assessee’s total income.
  2. How would you set-off business loss in the same previous year? What provisions govern its carry forward and set-off in a subsequent year?
  3. Explain in detail about the provisions of sec 80C, 80D, 80E, 80G and 80U?
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  5. Practice all Illustration problems.
  6. Practice all the exercise problems.

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Unit - IV: ASSESSMENT OF INDIVIDUALS

  1. What is the provision for Assessment of Individual?
  2. Explain Tax rebate and Surcharge?
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  4. Explain Tax Deduction at Source and Advance Payment of Tax?
  5. Practice all Illustration problems.
  6. Practice all the exercise problems.

Unit - V : ASSESSMENT PROCEDURE

  1. Explain the provisions for filing Income Tax Returns?
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  3. What is PAN? Explain the procedure to apply for PAN?
  4. Write the different methods of Filing the Returns?
  5. Explain different types of Income Tax Returns?
  6. Write the process of Filing Income Tax Returns?
  7. What is Assessment? Explain different kinds of Assessments under Income Tax Act?
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