Osmania University · Faculty of Law
Law of Taxation · May/June 2015
May/June 2015 · Law of Taxation · Semester 6
FACULTY OF LAW
LL.B. (3 YDC) III - Year VI - Semester (New) Examination, May / June 2015
Subject : LAW
Paper - I : LAW OF TAXATION
Time : 3 Hours Max. Marks : 80
PART - A (5 x 6 = 30 Marks)
Answer any FIVE of the following.
1. Resident and ordinary resident in India.
2. Characteristics of Salary.
3. Entertainment Allowance.
4. Payment dates of Advance Tax.
5. Assets Subject to Wealth Tax.
6. Assets Exempted from Wealth Tax.
7. Vat Dealer.
8. Works contract.
PART - B (2 x 15 = 30 Marks)
Answer any TWO of the following questions.
9. Explain the method of calculation of gratuity and its treatment on retirement for Government and
non-Government employees under the Income Tax Act.
10. Define "Perquisite" and give a detailed account of perquisites exempt from Income Tax.
11. What is the procedure for payment and recovery of tax under section 22 to 30 of TOT and VAT
dealer under the VAT Act?
12. Give a detailed note on filing of the Wealth Tax return.
PART - C (2 x 10 = 20 Marks)
Answer any TWO of the following questions.
13. "X" an importer at Delhi imported the goods from "Y" of London and after getting clearance from
customs he sold the goods to a buyer in India, and claimed exemption. But the sales tax officer,
rejecting the claim of "X", levied tax under the Central Sales Tax Act, treating it as a sale in the course
of import and not an interstate sale. Whether the assessing officer is correct or not?
14. The assessee's dependent mother is a senior citizen who had open heart surgery performed by a
general surgeon in a private hospital, and he has incurred expenses towards the surgery and
treatment. The assessing officer rejected the claim of exemption u/s 80DDB of a sum of Rs. 60,000/-.
Is the assessing officer's decision correct or not?
15. Draft a proforma of statement showing the computation of income from house property, income
from profession and income from other sources, applying the following sections: Sec. 10(13), Sec. 19,
Sec. 10(14), Sec. 24, Sec. 80E, Sec. 80G, Sec. 80C.
16. The assessee during the financial year, has invested FD of a sum of Rs. 5,00,000/- in the sanme of
his wife who is a house wife having no income of her own and not an assessee. The assessee does
not want to show the interest accrued on the FD and seeks your clarification and advise. As a tax
consultant advise your client.