BB43

Time : 3 hours

III Semester BBM Exam June/July 2015

Taxation and Laws

Max Marks: 80

Section-A
Answer any five sub questions. Each question carried 2 Marks.
1.
a) Define Tax.
b) What do you mean by HUF ?
c) What is capital gains ?
d) Define Resident.
e) Who is an Assesses ?
f) What is Accmal ?
g) What do you mean by Leave salary ?

5 x 2 = 10

Section-B
Answer any four of the following questions. Each question carries five marks.
4x5=
20

2.
3.
4.
5.
6.

Mention the types of accounting methods.

State the features of construction
When capital gains exempt from tax ?
What is self assessment ? Explain.
Explain the earned leave salary.

Section-C
Answer any five questions. Each question carries Ten marks.
5 x 10 = 50
7.
Discuss the Indian Tax structure.
8.
How to determine the residential status of an individual ? Explain.
9.
Describe briefly the procedures of an appeal to the commissioner of appeal.
10. Define deductions. Discuss the tax treatment of different forms of salary
income.
11. Explain tax treatment on depreciation.
12. Define perquisites. Mention chargeable perquisites.
13. Describe the method of computing incomes under the head income from
other source.
14. Explain the permission relating to Residential status of an individual.

BB43
Time : 3 hours

III Semester BBM Exam June/July 2015

Taxation and Laws

Max Marks: 80

Section-A
Answer any five sub questions. Each question carried two Marks.
1.
a) Define Tax.
b) What do you mean by casual income ?
c) Explain the term Nonresident.
d) Give the meaning of Tax liability.
e) Explain the expenditure on Scientific expenditure.
f) What is Tax incidence ?
g) What do you mean by Leave salary ?

5 x 2 = 10

Section-B
Answer any four of the following questions. Each question carries five marks.
4x5=
20

2.
3.
4.
5.
6.

Write a note on double taxation relief.

How the total income of a firm is computed ?
Mention the provisions of income tax under section 80D.
What is self assessment ? Explain.
Write a note on expenditures on scientific research.

Section-C
Answer any five questions. Each question carries Ten marks.
5x 10= 50
7.
Who is representative assesses ? What are his rights and liabilities ?
8.
What are the powers of an income tax authority in regard to survey covered
by section 133A of the income tax act ?
9.
Explain the perquisites which are taxable of a specified employee.
10. Define deductions. Discuss the tax treatment of different forms of salary
income.
11. Explain the procedure for assessment.
12. Describe the various sources from which an individual can earn his income.
13. What deductions are allowed to a business in computing profits ?
14. State the items of income from house property which are not liable to tax.

BB43
Time : 3 hours

III Semester BBM Exam June/July 2015

Taxation and Laws

Section-A
Answer any sub questions. Each question carried 2 Marks.
1.
a) Define Assesses.
b) What do you mean by HUF ?
c) What is capital gains ?
d) Define profession.
e) Define manufacture.
f) What do you mean by cost of Acquisition ?
g) Who is an ordinary resident ?

Max Marks: 80

5 x 2 = 10

Section-B
Answer any four of the following questions. Each question carries five marks.
4 x 5=
20

2..
3.
4.
5.
6.

Distinguish between capital receipts and revenue receipts..

State the five exemption from incomes under section 10.
Mention the provisions of income tax under section 80D.
When capital gains exempt from tax ?
Explain the powers of the Appellate Tribunal.

Section-C
Answer any five questions. Each question carries Ten marks.
5 x 10 = 50
7.
What do you mean by capital assets ? Explain the types of capital assets.
8.
Discuss the treatment of expenditure under section 35.
9.
Explain the provisions relating to set off of losses and carry forward of
losses.
10. Explain the procedure for assessment.
11. Describe the various sources from which an individual can earn his income.
12. What deductions are allowed to a business in computing profits ?
13. State the items of income from house property which are not liable to tax.
14. What are the provisions relating to computation of income from business or
profession under section 30 to 37.