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SLLB.WUI2.15. 1199 ree No. [ O D ‘THREE YEAR LL.B DEGREE VI SEMESTER EXAMINATION DECEMBER 2015 Time :3 Hours 0. m1, Vv. vi val. @ &) © © © oO @ (hy C.19 PRINCIPLES OF TAXATION LAW Maximum Marks : 50 PART A (Answer ANY FIVE questions) (5x 4=20) Discuss the relevance of Article 265 of The Constitution and its implications. Enumerate the provisions in The Constitution relating to distribution of revenue between Centre and States. ‘What are the exemptions provided under Kerala Agricultural Income Tax Act relating to taxability of agricultural produce? Discuss the extent to which HIRA is exempted from income-tax under the head “salaries”, ‘Write a note on depreciation available under the head “profits and gains of business or profession”. ‘What are the general deductions available under section 80C of the Income tax Act? Write a note on re-assessment of income. Explain ‘Tax deduction at source’. PART B (Answer ANY TWO questions) Gopichand and company is a registered dealer under Kerala Value Added Tax Act. ‘Turnover from sales in the State during 2014-15 was £90 lakhs. Inter-state sales to the tune of Rs.15 lakhs and sales falling under III Schedule of the Act to the tune of Rs.10 lakhs was also there. Determine the (otal tumover and taxable turnover of the company for the year. Explain the relevant provisions. Navin Gopal, an employer of TCS furnishes the following particulars relating to his income for the previous year ending on 31.3.2015. Basic salary $0,000 per month, DA. —_—. % 20,000 per month HRA. % 5,000 per month Rent paid by hitn for house at Bangalore ~ € 6000 per month, Compute the taxable salary for the assessment year 2015-2016; and exemption for H.R.A, if any. Mr.Jobn Smith, a British national comes to India for the first time during 2010-11. During 2010-11, 2011-12, 2012-13, 2013-14 and 2014-15 he was in India for 60 days, 50 days, 80 days, 70 days and 180 days respectively. Determine his residential status for the assessment ‘year 2015-16 PART C (Answer AIVY TWO questions) (2x9=18) Discuss the hierarchy of income tax officials and their powers. Discuss the procedure for assessment and remedies thereafter under Kerala Agricultural Income Tax Act. Trace the evolution of VAT system in India, and discuss the merits and demerits of VAT compared to conventional sales tax system.

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