Unit 1:

1. Define the following:

a. Assessment year
b. Previous year
c. Person
d. Assessee
e. Income, Indian Income, foreign income
f. Gross Total Income
g. Capital Vs Revenue Receipts
h. Capital Vs Revenue Expenditure
i. Demerger
j. Accrual of income
k. Deemed to accrue or arise in India
2. Explain the procedure to determine the residential status of an individual
3. Explain the incomes exempted u/s 10
Unit 2:
1. What do you mean by ‘salary’? Explain the forms of salary
2. What do you mean by leave encashment? Explain its tax treatment
3. What do you mean by Gratuity? Explain its tax treatment
4. Explain the tax treatment of the following:
 Pension
 House Rent Allowance
 Entertainment Allowance
5. Explain the allowances prescribed as exempt u/s 10 (14)
6. What do you mean by Perquisite? Give examples
7. Who is specified employee?
8. Explain the valuation and their tax treatment of the following perquisites provided by the
employer to the employee.
 Valuation of rent free accommodation
 Free domestic servants
 Free education
 Interest free loan
 Free car / conveyance
 Lunch / Refreshments, etc
 Medical facilities
 Club expenditure
 Credit card
9. Explain the permissible deductions u/s 16
10. What do you mean by Provident Fund? Explain the types along with their tax treatment
11. Explain the deductions u/s 80C