Direct Tax Law

BBA 3rd SEM

DIRECT TAX LAW

Important Theory Questions

Short Questions

1.  Define ‘Assessee’.

2.  Income of the previous year is always taxable in the assessment year. Is there any exception to this rule?

3.  What is regarded as dividend and how is it charged to tax?

4.  Define ‘Person’.

5.  Define Previous Year.

6.  Define Assessment Year.

7.  What do you mean by Capital Assets?

8.  Discuss the concept of Income.

9.  ‘All assessees are persons, but all persons are not assessees.’ Explain.

10.  What is Gross Annual Value?

11.  Define Maximum Marginal Rate.

12.  Amortization of Preliminary Expenditure u/s 35D.

13.  Expenditure on Scientific Research u/s 35.

Long Questions

1.  Explain any twenty incomes which are exempted under Income Tax Act.

2.  What do you mean by residential status? How it is determined?

3.  Define Agricultural Income. Also discuss its tax treatment.

4.  Discuss the various provisions regarding set-off and carry forward of losses.

5.  Write down the deductions available under section 80 of Income Tax Act.

6.  Discuss the various exemptions available under the head Capital Gains.

7.  Discuss the various provisions regarding aggregation/clubbing of incomes under the Income Tax Act.

8.  Explain the provisions regarding treatment of Depreciation given u/s 32.

9.  Discuss the types of incomes u/s 56.