Questions by year, frequency and marks

Filter the question bank. Frequency is how many papers a question appears in. Marks follow the common OU pattern: Part A 6, Part B 15, Part C 10.

4320 questions in this view, sorted by frequency.

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Marks Question Subject Years Frequency
10 Ramu Ltd. has subscribed capital of Rs. 50,000/-. It holds 1,000 shares of Rs. 100 each in XY Ltd. and 500 shares of Rs. 10 each in AB Ltd. It wants to purchase some shares in EF Ltd. How many shares of Rs. 100 each can XY Ltd. purchase in EF Ltd.? Law of Investments and Securities 2020 1×
10 Ramu subscribed for shares issued by 'X' Ltd. The prospectus of 'X' Ltd. included a statement which was misleading in the forms and contents. On the basis of the prospectus, believing it to be true, Ramu subscribed for shares and sustained a loss. Can Ramu sue for compensation of loss? If so, who will be sued for such loss? Law of Investments and Securities 2017 1×
10 Ratnakar Ltd. wants to make a first call of Rs. 30 on equity shares of nominal value of Rs. 100 each on 16th October, 2013. Can it do so? Further, if the company proposes to make a second call on 7th November, 2013, will it be permitted to do so? Law of Investments and Securities 2014 1×
10 X is the shareholder of Y Company. X insures the Steel Company in his own name. The Company is destroyed by fire. Can X recover the loss? Law of Investments and Securities 2021 1×
10 Three Singapore nationals who have never been to India have decided to be the shareholders holding 100% equity shares and the only directors of a private company in India in the year 2017 which is not a subsidiary of a Public company. Comment. Law of Investments and Securities 2019 1×
10 'A', a trader, carried on business under the name of 'A's Co. Ltd.' without being registered as a company with limited liability. Decide the consequences of the act of A. Law of Investments and Securities 2019 1×
10 When a shareholder of 'X' Company delegates the right to vote at an AGM to another person, what is the legality? Law of Investments and Securities 2021 1×
10 A allowed his neighbor B to park his cases in A's house. After sometime A refused to park B's case in his house. B claimed it as easement right. Decide. Law of Property 2015 1×
10 'A' allowed his neighbour B to park his car in A's house. After some time, A refused to let B park the car. B claimed it as an easement right. Decide. The code number for this paper was not clearly visible in the source photo. Law of Property 2022 1×
10 X executed a will in respect of his property in favour of Y by means of a registered will. Later he wanted to modify the will. Advise him as to the procedure. Law of Property 2018 1×
10 'A' finds the goods belonging to 'B', and spends Rs. 10,000/ - for maintenance of the same. Later 'B' comes to know about it and wants to recover his goods. Explain the rights and obligations of 'A' and 'B'. Law of Property 2014 1×
10 'A' likes to gift his house to 'B', his near relative. However, A dies before B could accept his gift. Explain the consequences of such a gift. Law of Property 2014 1×
10 A party to a suit transfers the disputed property to a third party. Is such transfer valid? Explain with reasons. Law of Property 2014 1×
10 'A', a person of unsound mind, writes a will in respect of his property during a bout of sanity. Is such a will valid? Explain with reasons. Law of Property 2014 1×
10 A purchases a house from B without making proper enquiries relating to the house. Later it was found that the house is mortgaged with C. What is the remedy available to B? Law of Property 2021 1×
10 A purchases property in the name of B. B sells the property to C without A's authority, A sues to recover property from C. Decide. 15.A transferred his immovable property to an unborn person who is in mother's womb. Decide the rights of unborn person. Law of Property 2015 1×
10 A sells a house with a condition that B, the purchaser, has to reside in it and should not sell the property to any other person. Is the condition valid? Law of Property 2021 1×
10 A served a notice to his lessee B to vacate the land. A gave his land to B to run a restaurant. But A gave 15 days' notice to B for eviction. B disputed the 15 days' notice by claiming that he needs six months' notice as he leased that land for manufacturing purpose. Decide. Law of Property 2014 1×
10 Some property is transferred to D in case A, B and C shall all die under the age of 18 years. Examine what type of interest is vested in D. Law of Property 2019 1×
10 B transfer Rs. 10 lakhs to his niece, if she is willing to desert her husband D. Is the transfer valid? Law of Property 2015 1×
10 A transfers 1 acre of land to his sister -in-law, if she will desert her husband. Is the transfer of the 1 acre of land valid? Law of Property 2022 1×
10 A transfers property to B, C, D and E, all alive on the date of transfer, successively, and then the eldest son of E attains 21 years. Decide the validity of the transfer. Law of Property 2021 1×
10 A transfers property to B in trust for C and directs B to give possession of the property to C when he attains the age of 25. What interest does C take and when? Law of Property 2016 1×
10 A transfers Rs. 5,000 to B on condition that he shall marry with the consent of C, D and E. E dies. B marries with the consent of C and D. Is the condition fulfilled? Law of Property 2021 1×
10 A, who is under a sentence of transportation for life, transfers his field to B, with a provision that in case he returns from Port Blair, B's interest shall cease. A returns from Port Blair. Can he claim back his field? Law of Property 2016 1×
10 The assessee's dependent aged father, suffering from cancer, was treated by a general physician (qualified post graduate) in his personal clinic. The assessee has incurred Rs. 85,000/- for his treatment and medicine. Can the assessee claim deduction under 80DDB towards the medical treatment expenses? Law of Taxation 2012 1×
10 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? Law of Taxation 2015 1×
10 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. Law of Taxation 2015 1×
10 The assessee was employed in a private limited company for the last one year . Basic salary is Rs. 14,300 p.m., D.A. is Rs. 5,200, special allowance is Rs. 1,650, CCA is Rs. 350 and other allowances are Rs. 1,660. What are the provisions for the unutilized earned leave and the exemption available to him on the above receipt? Is the unutilized earned leave totally exempt, if not to what extent is it taxable? Law of Taxation 2014 1×
10 The assessee filed his wealth tax return for the A.Y . 2012-13 belatedly after the valuation date. Before the completion of the assessment the assessee died. While completing the assessment the wealth tax officer has taken the value of the property as on the date of filing the returns and levied excess tax and interest thereon, and passed the orders. Since the assessee died, the wealth tax officer issued the demand notice on the legal representative of the deceased assessee. Defend the legal representative of the deceased assessee as their counsel. Law of Taxation 2013 1×
10 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. Law of Taxation 2022 1×
10 An assessee had a taxable income in a financial year, but in the subsequent years his income was within the tax threshold limit. Does he need to file the return every year despite not having taxable income? Also clarify if a person was not allotted PAN, does the assessee need to file the return despite having his total income within the threshold limit? Advise your client. Law of Taxation 2018 1×
10 The assessee has filed an incorrect wealth tax return, for the A.Y . 2009-10, belatedly after the valuation date, and subsequently died after the wealth tax officer completed the assessment. The wealth tax officer has taken the value of the property as on the date of filing the return and imposed penalty on various counts. Since the assessee died after passing of the orders, the wealth tax officer issued the demand notice on the legal representatives of the deceased assessee. Is there any ground to defend the case of the legal representatives of the deceased assessee? Advise. Law of Taxation 2012 1×
10 The assessee has purchased house property in the year 1989. Subsequently he invested a sufficient amount for extension and improvement in the year 1993. He sold the house for Rs. 85 lakhs in July, 2012. After calculating the index value of the cost price and improvement of the property as on 2012, the capital gain arose was Rs. 69,50,000. The assessee has deposited this capital gain in a capital gain account with SBI for a lock-in period of 3 years. The assessee did not invest the capital gain in purchase of a house nor in constructing a house. After maturity of the deposit, can the assessee withdraw the deposit? If so, what is the procedure? If he does not invest as required, is the assessee liable to pay the tax? Law of Taxation 2013 1×
10 The assessee is a naval officer. He is planning to take a housing loan of Rs. 20 lakh. The assessee seeks your advise that if he gets the possession of the house only after one year, but he starts paying interest, will he get income tax rebate? Advise. Law of Taxation 2012 1×
10 The assessee is the owner of an old flat built in 1979. There are 12 flats and all flat owners decided to hand over their flats for redevelopment. The builder agreed to hand over a new flat along with a compensation of Rs. 10 lakhs to each flat owner and retain the rest of the flats. Is the compensation taxable or not? What will be the tax liability for the exchange of new flat for the old one? If the assessee is liable for any tax, advise your client how to avoid the tax liability. Law of Taxation 2014 1×
10 The assessee is a retired employee and he is having income from salary (pension), income from house property, income from other sources. In the month of April 2013 he became a senior citizen. Since he has attained 60 years of age and his income is much below the exempted income of Rs. 2,50,000/-, he has filed a nil return. The assessing officer advises the assessee. Law of Taxation 2013 1×
10 The assessee is a retired employee and he is having income from salary (pension), income from house property, income from other sources. His taxable income for the financial year 2017-18 was Rs. 2,85,000/-. In the month of April 2018 he became a senior citizen. Since he has attained 60 years of age, and since the exempted income for a senior citizen is Rs. 3,00,000/-, he has filed a nil return. The assessing officer assessed the income and levied tax and interest. You as the consultant advise the assessee. Law of Taxation 2019 1×
10 The assessee is a retired employee and he is having income from salary (pension), income from house property, income from other sources. His taxable income for the financial year 2009-10 was Rs. 1,80,000/-. In the month of April 2010 he attained the age of 65, and his income is much below the exempted income of Rs. 2,40,000/-, so he has filed a nil return. The assessing officer assessed the income and levied tax and interest. You, as the consultant, advise the assessee. Law of Taxation 2018 1×
10 The assessee is a salaried person. He has paid tuition fees for the post-graduation of his wife. The assessee claimed rebate on tuition fee under section 80C under Chapter VIA. The ITO rejected his claim and levied tax. Whether the order of the ITO is correct or not? Law of Taxation 2012 1×
10 The assessee is a senior citizen aged 62 years. He draws pension of Rs. 3.5 lakh per annum. He was given approval for deduction u/s 80U by the income tax officer for the Annual Year 2012-13, availing the present deduction of Rs. 1,00,000 against the approval issued in 2012-13. The allowable deduction rate at that time was Rs. 70,000. Can he avail this deduction every year in the subsequent years despite his disability being permanent in nature, without referring the matter every year to the Income Tax Officer? Advise your client. Law of Taxation 2018 1×
10 'X', an assessee, transfers some of his assets to 'Y' during the pendency of the proceedings under the income tax act with a view to defraud the revenue. Is this transfer valid? Discuss. Law of Taxation 2020 1×
10 The assessee is working with a multinational company in Pune. She pays rent to her flat owner and maintenance charges to the owner's association. But her employer refuses to consider the maintenance charge while calculating rebate on rent, stating that the Income Tax Act mentions rent only. Is she right in her approach? If so why, and if not, why not? Explain. Law of Taxation 2012 1×
10 'A' company is formed solely to do the business of building houses and letting them on rent. Is this income of the company taxable? If so under what head of the Income? Law of Taxation 2023 1×
10 Explain the conditions for taking Input tax credit. Law of Taxation 2018 1×
10 Draft a pro forma of statement of Income showing the computation of income from salary. Law of Taxation 2012 1×
10 Draft a proforma of statement of income showing the computation of income from the heads of income from Salary, House property, Profession and other sources, and arrive at taxable income by applying sections 10(13A), 10(14), 16, 24, 80E, 80DDB, and 80C at appropriate places. Law of Taxation 2014 1×
10 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. Law of Taxation 2015 1×
10 An employee retires from service and his monthly pension is fixed at Rs. 3,000/- p.m. He commuted Rs. 2,500/- out of his pension and received Rs. 2,00,000/- as commuted value of pension. Work out the amount of commuted pension of the employee both where (1) the employee received Gratuity, and (2) the employee did not receive gratuity. Law of Taxation 2019 1×
10 'A' an export and import firm at Hyderabad, imported goods sent from 'E' of Germany and sold it to an Indian buyer at Bombay after obtaining clearance from customs, and claimed exemption. But the assessing officer levied tax under the CST Act. The assessee wants to file an appeal against the orders of the assessing officer before the appropriate appellate authority. Advise your client. Law of Taxation 2012 1×