Guru Gobind Singh Indraprastha Vishwavidyalaya 2010-4th Sem B.B.A University Taxation Laws - Question Paper

BBA 212: TAXATION LAWS
(INCOME TAX)

(Please write your Exam Roll No.)    Exam Roll No.

End Term Examination

Fourth Semester jBBA./BBA(TTM)l M \v-2()10____ ______________________

\Paper Code: BBA/BBA(TTM)212    Subject: Taxation Laws J

Time : 3 Hours    _ Maximum Marks :75

| Note: Q.1 is compulsory and attempt one question from each unit Internal choice is given. J

QT Answer briefly any three of the following:-    (15)

()    How would you find out the residential status of a foreign company operating in India?

(bj Write short note on Casual Income and non recurring income,

(ej Explain the provisions of clubbing of income of a minor.

(d) Write short note on Deduction of tax at source in respect of payment to contractors.

()    Is a subsequent sale to government department exempt from CST?

UNIT-I

iVIr. X and Mrs. X came to India on 15^th October 2009 for a visit of 7 months. Both of them arc Indian citizens, In the earlier years, they were in India as follows:-

Year	Mr.X .....	Mrs.X
2008-09	240 days	365 days
2007-08	340 days	20 days
2006-07	Nil	] 5 days
2005-06	118 days_____	120 days

Find out the residential status of Mr.X and Mrs. X for the A.Y. 2010-11. (15)

OR

How will you treat the HRA paid by employer? When is encashment of leave salary not chargeable to tax?    (15)

UNIT-II

How is income from self-occupied property or property meant for owner occupation but remaining wholly or partly unoccupied computed? Discuss. (15)

OR

An analysis of the Profit and Loss Account and the Balance Sheet of Rahul as at March 31, 2009 reveals that the following expenses which were due, though debited to profit and loss account but have been paid after 31-3-2009 Sales Tax Rs. 50,000 (Rs. 20000 paid on 14 10 2009 and Rs. 30,000 paid on 15-12-2009) Excise duty Rs. 1,20,000 (Rs. 40,000 paid on 14-,10-2009; Rs. 40,000 paid on 15 12-2009 and Rs. 40,000 paid on 24-12-2009). Bonus to staff Rs. 60,000 (Rs. 58,000 paid on 10-10-2009 and Rs. 2,000 paid on 15-12-2009) Employers contribution to provident fund Rs. 55,000 (Rs. 25,000 paid on 15-07-2009, Rs. 10,000 paid on 31-10-2009 and Rs. 20,000 paid on 15-12-2009) The due date for filing return is 31-10-2009. In which previous years can the above payments be claimed as a deduction?    Pp & (15)

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UNIT-III

Briefly explain the circumstances under which income of other persons is included in the assessees total income u/s 60 to 64 of the Income Tax Act, 1961.    (15)

OR

Q7 Discuss the provisions regarding set off and carry forward of losses.

UNIT-IV

What are the benefits of registration under Central Sales Tax Act, 1956? When can a certificate of registration be cancelled?    (15)

OR

Discuss the rules regarding registration for service Lax. How the value of taxable

service is determined?    (15)

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Attachment: guru-gobind-singh-indraprastha-vishwavidyalaya-2010-b-b-a-37478-1.jpg

Earning:   Approval pending.