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INDEX a 998 37 12345
Very Short Answer type Questions 1-28
I. Short Answer type Questions 28 61
Essay type Questions & Answers 62- 100
Income tax is charged on the income of the 'previous
vear ". Do you fuily agree with the statement? if not,
what are the exceptions? 62
What is Agricultural Income? How is it treated for
income tax purposes? State the incomes included
under this head 63
Explain the provisions of the Indian income Tax Act to
h determine the nature of residence of assessees. Explain
ts incidence on their tax liability. OR
Assessees have been divided into three categories on
the basis of residence. Explain how these categories
are defined and how they affect the tax-liability of the
assessee. 64
4. What are the provisions of the income Tax Act
regarding (1) Gratuity. (2) Encashment of earned
leave. (3) Commutation of Pension, (4) Leave Travel
Concession. 66
5.
5. Elucidate the difference between statutory, recognised
and unrecognised provident funds with reference to
the income tax assessment. 69
6. What deductions are allowed from annual value under
the head Income from House Property? 71
1S .
7 7.
(a) What do you know about the deduction in respect
of Site Restoration Fund? Explain.
(b) What do you know about the deduction for Tea
Deposit Account? Explain. 73
ce 8. What do you understand by the term
'Capitai Gains
used in the Income Tax Act? What are the rules
regarding exemption of capital gains? 75
Explain with examples the circumstances under which
the incomes of other persons are included in the total
income of an assessee. OR
An assessee is not only liable in respect of his own
incomesfor tax purposes but his liability may extend to
sone other incomes also '" Cornment on this
statement.
78
"The loss under one head of incorne can be set-off
10 against the income under other heads during the same
assessment year." Explain this principle and state the
exceptions OR
Write a shot essay on carry forward and set-off of
losses 81
Explain the total partition and partial partition of a
(11,
Hindu Undivided Family How is Hindu Undivided
Family assessed after partition on its incorne earned
before its partition 83
12. what are the various authorities envisaged in the
Indian income Tax Law and what are their functions 85
13. Under section 40(b) what iterns are disallowed as
deduction while Computing firrn's income irom
business or profession? Explain fully 86
14 What are the provisions in the Indian Income Tax Act in
regard to the 'Permanent Account Number (PAN)? 87
(i5.) State in detail the liability to pay Advance Tax and the
method of its computation. 89
7?
16. What do you rnean by Deduction of Tax at Source
Explain the provisions of Income fax Áct about it. Aiso
state the provisions relating to the deduction of tax at
source in foilowing cases (a) TDS on Salary (b)
Payment to Contractors and Sub-contractors, (c
Winning from Loteries, (d) interest Other than Interest
n Securities (e) Payrnent of Per 91
17. Eplain the Procedure; r,f Filng Freturn and Procedur
Assess,rment under the [Link] Tax Act 94
18 Write Shot Notes on
1 Brst Jydgement Assessment
2 Re aL0Stment or incoTE2 5(,aping asse:5STIent 98
IV.
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Numericai Questions&
LEKHA Commerce Classes
Solutions 101 148
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