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Principles of Taxation - 2019

This document is an examination for the Principles of Taxation Laws course at the W.B. National University of Juridical Sciences. It contains 7 questions testing various aspects of taxation law in India. Students are instructed to attempt any 5 questions out of the 7 provided. The questions cover topics such as the nature of taxation powers between the Union and States, tax implications of donations and gifts, computation of capital gains tax and depreciation, taxation of salaries and rental income, and exemptions under the Income Tax Act.

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Anushka Singh
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46 views2 pages

Principles of Taxation - 2019

This document is an examination for the Principles of Taxation Laws course at the W.B. National University of Juridical Sciences. It contains 7 questions testing various aspects of taxation law in India. Students are instructed to attempt any 5 questions out of the 7 provided. The questions cover topics such as the nature of taxation powers between the Union and States, tax implications of donations and gifts, computation of capital gains tax and depreciation, taxation of salaries and rental income, and exemptions under the Income Tax Act.

Uploaded by

Anushka Singh
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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THE W.B.

NATIONAL UNIVERSITY OF JURIDICAL SCIENCES


LL.B. End Semester (Monsoon) Examination 2019 –9th Semester – 2015 Batch

Principles of Taxation Laws

Full Marks- 65 Time Allowed: 3 hours

i. Any Bare Act and Bylaws including circulars without any commentary are allowed.
ii. Calculator simplicitor is allowed.
iii. Attempt any five questions.

1. Answer followings-
a. “The Constitution of India did not have provision for concurrent power until
enactment of the Constitution (101st Amendment) Act, 2016”. Do you agree?
Substantiate your answer with suitable illustration(s).
b. Critically examine the true nature, extent and scope of residuary power with special
emphasis on tax matters of the Union with the help of constitutional provisions and
decided cases.
5+8=13
2. Answer followings-
a. Honb’le Prime Minister of India, Sri Narendra Modi puts on auction his “ kurta,
churidar paizama, sadari and pen” on March 31, 2019. He got Rs. 10 crores from
the auction. He has donated the entire sum to a trust which promotes yoga. Discuss
the tax implication in his hand. Refer the statutory provisions
b. “Across the globe including India, resident assessee’s global income is taxed but the
non-resident assesse’s only local income is taxed”. Do you agree? Why it happens?
Discuss and refer Indian statutory provisions.

5+8=13

3. Answer followings-
a. “Agricultural income is not being taxed directly but indirectly under Income Tax
Act, 1961”. Critically examine the statement with the help of relevant
Constitutional and Statutory provisions.
b. Xmas Co. Ltd. purchased a machine for Rs. 1 lakh on March1, 2017 and put to use
on December 31, 2017. Presuming depreciation rate is 10%; calculate depreciation
for A.Y.2017-18 and 2018-19.

9+4=13
4. “The charging and computation of income provisions under house property head of the
income tax act, 1961 has become outdated and complicated with the passage of time and
varied judicial interpretations. Therefore, there is need to rationalize and simplify the
provisions”. Do you agree? Support your answer with the help of statutory provisions and
decided cases.
13

5. Answer the followings-


a. Critically examine the statutory provisions with emphasis on recent past
amendments as to computation of tax on capital gains from equity shares in a
company. Refer suitable illustration(s).
b. The Sun pharma Co. distributed ‘freebies’ of worth Rs. 4 lakh to private Medical
practioners and Rs. 10 lakh to government hospital doctors for prescribing the
particular medicines during P.Y. 2018-19. Can the company claim the deduction of
such expenditure while filing income tax return for the relevant A.Y.? Substantiate
your answer.
8+5=13

6. Mr. Sajjanlal, an employee of Tata Consultancy Service Pvt. Ltd., Kolkata furnishes the
following information for the FINANACIAL YEAR 2018-19 as under-
a. Basic salary Rs. 2,50,000pm
b. DA 60%, as per terms of employment
c. HRA Rs. 40,000pm
d. Residing in a rented house in Burdhman and paying rent Rs. 50,000pm
e. Professional tax paid Rs. 2000

Compute income tax liability including surcharge and cess, if any, of Mr. Sajjanlal
for the relevant A.Y.. Give proper working notes.

13
7. Write short notes on any two of the followings-
a. Determination of residential status of individual.
b. Why to make a distinction between tax and fees? Discuss.
c. Gift and income tax implications.
d. Set off of losses.
e. Clubbing of incomes with special emphasis on minor’s income.
f. “Exemption is better than taxation under GST.” Comment on it.
6.5+6.5=13

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