Osmania University · Faculty of Law
Law of Taxation · September/May 2022
September/May 2022 · Law of Taxation · Semester 6
FACULTY OF LAW
LL.B. (3 YDC) III - Year VI - Semester Examination / BA LL.B. (5 YDC) /
BBA LL.B. (5 YDC) / B.Com. LL.B. (5 YDC) V - Year X - Semester Examination,
Sept. / May 2022
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. Assessee under the Income Tax Act
2. Resident in India
3. Agricultural Income
4. Kinds of persons under the Income Tax Act
5. Income from House
6. Input tax credit
7. PAN
8. Tax deducted at source
PART - B (2 x 15 = 30 Marks)
Answer any TWO of the following.
9. Explain how the tax liability of an assessee is determined with reference to Residence.
10. What are the various deductions allowed under the head salaries and income from house
property?
11. Give a detailed note on the procedure of Registration under the GST Act, 2017.
12. What are the conditions precedent to be complied for claiming exemption of expenses incurred
for the treatment of specified diseases under section 80DDB of the Income Tax Act?
PART - C (2 x 10 = 20 Marks)
Answer any TWO of the following.
13. 'X' Ltd. is an Indian Company and subsidiary of an American company manufacturing and selling
copier machines. The Indian company among other things purchases and sells these copier machines
also. Is the Indian Company 'X' Ltd., a subsidiary of the American Company, liable to sales tax in
India? If so under what Act? Explain.
14. Prepare the proforma statement of income showing computation of income from salary, house
property, applying the following sections correctly: Sec. 316, 10(13), 10(14), 80DDB, 80G, 24, 30%
statutory deduction, Deduction under Chapter VIA - 80C.
15. In the year 2020, the assessee took a personal loan and invested the money in the National
Savings Certificate. Since he did not make this investment from his taxable income, he did not claim
tax deduction under section 80C. In the subsequent years, interest income accrued on the NSC would
form part of "income from other sources". Your client seeks your advice as to whether he can claim
deduction for the interest accrued, which will be invested every year for the next five years. How
should NSCs received as a gift be treated? Advise.
16. The assessee had filed an incorrect wealth tax return for the A.Y . 2019-20, belatedly, and
subsequently died before the wealth tax officer completed the assessment. The wealth tax officer
took the value of the property as on the date of filing the return and imposed penalty on various
counts. Since the assessee is no more at the time of completing the assessment, the wealth tax
officer issued the order and the demand notice on the legal representatives of the deceased
assessee. Defend the case as counsel for the legal representatives of the deceased assessee.