Roll No. Total No. of Pages : 02
Total No. of Questions : 17
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M.Com. (2018 Batch) (Sem.-3)
DIRECT AND INDIRECT TAXES
Subject Code : MCOP-301-18
M.Code : 76828
Time : 3 Hrs. Max. Marks : 60
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INSTRUCTIONS TO CANDIDATES :
- SECTION-A contains EIGHT questions carrying TWO marks each and students has to attempt ALL questions.
- SECTION-B consists of FOUR Subsections : Units-I, Il, Ill & IV. Each Subsection contains TWO questions each carrying EIGHT marks each and student has to attempt any ONE question from each Subsection.
- SECTION-C is COMPULSORY and consist of ONE Case Study carrying TWELVE marks.
SECTION-A
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Write briefly :
- Benami Transaction
- TDS
- PAN
- Rebate
- Bill of Entry
- Harmonized system of Nomenclature
- GSTN
- ISD (Input Service Distributor)
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SECTION-B
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UNIT-1
- How is residence of an assessee determined for tax purpose? Explain the incidence of tax liability.
- What is the meaning of term “Cost of Acquisition” as used in the head “Capital Gains”? What rules are given for the determination of cost of acquisition?
UNIT-1I
- Under what circumstances income of other persons can be included in the income of assessee under Income Tax Act, 1961.
- What are the provisions relating to deductions from gross total income of donations to certain funds; charitable institutions etc under section 80 G of the Income Tax Act, 1961.
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UNIT-11I
- Define Supply. What are the essentials of supply? Explains the rules of GST for the time and value of supply.
- What do you mean by Input Tax Credit? Explain the circumstances where Input Tax Credit shall not be available?
UNIT-1V
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- What are the different kinds of duties leviable under Customs Act, 1962? Explain briefly with reference to provisions of the Custom Act, 1962.
- Explain the different methods of valuation of imported goods under valuation rules, 2007.
SECTION-C
- Mrs. X is offered an employment by POR Ltd. at a basic salary of Rs. 1, 24,000 per month. Other allowances according to rules of the company are: deamess allowance: 18% of basic pay (not forming part of salary for calculating retirement benefits), bonus: 1 month basic pay; project allowance: 6% of basic pay. The company gives Mrs. X’ an option either to take a rent free unfurnished accommodation at Indore for which the company would directly bear the rent of Rs. 45,000 per month, or to accept a house rent allowance of Rs. 45,000 per month and find out own accommodation. If Mrs. X opts for house rent allowance, she will have to pay Rs. 45,000 per-month for an unfurnished house. Her income from other sources is Rs. 1, 70,000. Discuss which one is better alternative.
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.
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This download link is referred from the post: PTU M-Com 2020 March Previous Question Papers
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