Roll No. : …………..

JAGANNATH UNIVERSITY, BAHADURGARH

(Mid Term Examinations, October – 2019)
Programme : BBA/B.COM Semester : V
Subject Name: Income Tax Law & Practice Paper Code: BBA005/BCM505

Instructions to the Candidates: Read the question paper very carefully.

Do not write anything except your Roll No. on question paper.
Possession of mobile phones or any kind of written material, arguments with the invigilator or discussing
anything with co-student will result in the cancellation of the paper.
Time: 2 Hours Max. Marks: 50

(SECTION ‘A’)

Note: Attempt any five questions. All questions carry equal marks. …… (5×4) = 20 Marks

1. Differentiate between Capital Receipts and Revenue Receipts?

2. Describe the Taxable Slabs for Individuals of all age?
3. Elaborate the concept of Clubbing of Income?
4. X, who reside in Mumbai, gets Rs. 3,00,000 per annum as basic salary. He receives Rs.
50,000 per annum as House rent allowance. Rent paid by him is Rs. 40,000 per annum. Find
out the amount of taxable HRA for the assessment year 2017-18.
5. List down the exempted income under the section 10 which are not taxable in Income Tax?
6. Give the reasons for the following statements whether the statements show the taxable
income in India or not:
a) Gifts of 2 lakhs received outside India by an individual.
b) Interest income of Rs. 46,000 accrues in India (it may be received in India or outside
India)
c) Business income 0f Rs. 80,000 is received and accrued outside India (business is
controlled from India)
d) Income of Rs. 56,000 deemed to be received in India
7. Write short note on: a) Assessment Year and Previous Year b) Gross Total Income
(SECTION ‘B’)

Note: Attempt any three question. All questions carry equal marks … (3x10) = 30 Marks

8. What are the basic and additional conditions to determine the residential status of an
individual? Explain in detail.
9. Explain the concept of Set off and Carry Forward of losses with example?
 10. Find out the total taxable income under the head of House Property of X for the
Assessment year 2017-18.

11. X gives the following information for the previous year ending March 2017. Calculate the
total taxable income of X under the head of Salary.
Basic salary 9,00,000
Dearness Allowance (70% is considered for calculating provident fund) 80,000

Fixed commission and bonus 1,80,000

Arrear of salary 2011-12 (not taxed earlier ) 1,23,000
Income tax paid by employer 20,000
Fixed lunch Allowance 24,000
Children education Allowance (for 2 children) 9,600

12. Compute the Clubbed income from the below question mention.