Download Goa University BA LLB-5 Years 2016 Oct 9th Semester Law Of Taxation Question Paper

BALBO - 2916

B.A.L.L.B. (Semester – IX) Examination, October 2016

LAW OF TAXATION

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Duration: 3 Hours

Max. Marks : 75

Instructions: i) Answer any eight questions from Q. No. 1 to 12.
ii) Answer to Question No. 13 and 14 are compulsory.

(8x8=64)

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1. Examine the provisions of Income Tax Act, 1961, relating to the determination of residential status of an assessee.
2. Give a detailed account of the various principles governing the expression "Agricultural Income" in order to qualify for its exemption from tax.
3. Explain any eight categories of income which is exempted from tax under Sec. 10 of the Income Tax Act, 1961.
4. What is meant by "previous year"? Explain with exceptions how income earned in previous year is charged to tax in an assessment year.
5. Explain in detail the head of income "Profits and gains from business or profession".

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6. "Ownership of house property is an important criterion for income to be assessed under income from house property". Explain.
7. What is assessment? Discuss five types of assessment under the Income Tax Act 1961.
8. What is meant by the terms "person" and "assessee"? Illustrate their content and ambit with case laws as understood under the Income Tax Act, 1961.
9. Discuss the following:
   a) Set-off and carry forward of losses.
   

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   b) Authorities under Income Tax Act, 1961.
10. What is clubbing of income? Under what circumstances income of other persons are included in the assessee's total income?
11. What are the items of income that would be assessed to tax under the head income from other sources? What are the admissible and inadmissible deductions applicable to 'income from other sources'?
12. Distinguish between :
    a) Tax and fee (any four points).
    

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    b) Capital and Revenue Receipts (any four points).

13. Answer any two of the following:

1. Assessment year.
2. Types of capital gains.
3. Income.

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14. Answer any two of the following:

1. Income of a minor child.
2. Perquisites.
3. Double taxation relief.

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