2019

B.Com Semester – V Examination

Sub – TAXATION – II(Honours)

Paper – CC5.2 CH

Time – 3 Hours

Full Marks – 80

Group – A (5x7=35)

1. What do you mean by Self Assessment?

Or/
What do you mean by Best Judgment Assessment?
2. What are the Taxable event under Customs laws?
3. Differentiate between a Direct Tax and an Indirect Tax.
Or/
Define the following as per the CGST act 2017.
(I) Capital Goods.
(II) Casual Taxable person.
4. Who are liable to registered under GST?
5. Write the 5 situation where quoting of PAN is necessary.
Or/
Write a Short Note on TAN.
6. What are the main condission for determining supply as per the provision of the CGST act 2017?
7. Define Belated return and Defective return.
Or/
Mr. Sony, fails to submit his return for the A.Y on 31/07/2019. But he submitted his return on
20/12/2019. Determine which type of return is this. Again Mr. Sony wants to insert new
transactions and wants to attach the documentary evidences. So Mr. Sony can do this? If he can
then what should he do?

Group – B (10x3=30)
8. Following information’s are provided to you, you are required to calculate an Interest U/S 234A
and 234 B. (5+5)
(I) Mr. Amal Mondal is an individual aged 61 has a taxable income of `6,50,000 for the P.Y
2018 – 2019. The due date of filing return was 31/08/2019. He was submitted his return
on 20/01/2020. He paid `10,000 and `2,000 in form of Advanced tax and TDS.
(II) Mr. Jaiswal has paid `15,000 as Advanced tax for the P.Y 2018 – 2019 and his assessed
income is `11,50,000. The assessment was completed on 29/03/2020. He also paid
`1,500 as TDS and `1,750 as self assessment tax.
 9. Mr. Shome has earn the following income during the P.Y 2018 – 2019.
(I) Income from business `12,00,000.
(II) Income from house property `60,000.
(III) He earns a saving bank interest of `2,000.

(IV)He clames a deduction of `1,20,000 and `20,000 under section 80C & 80D.

(IV) He paid a tax remaining.

(V) He also earns a lottery income of `1,00,000 on 16/12/2019.
Compute the installments of Advanced Tax payable by Mr. Shome.
Or/
(A) What do you mean by Advanced tax? Who are liable to pay the Advanced Tax?
(6)
(B) What are the consequences for non-payment of advanced tax? (4)
10. Following is the information given below of XYZ ltd a registered person under GST for the month
of August 2019. Compute the net gst payable by XYZ ltd.
Raw Material Sold.
A - `8,00,000.
B - `3,00,000.
Raw Material Purchased.
A - `3,00,000.
B - `50,000.
Opening Balance of ITC
IGST – 36,000.
CGST - `30,000.
SGST - `30,000.
Or/
(A) Compute the value of custom of MNP ltd who has imported a machinery from U.S on
December 2019. (7)
(I) FOB 5,000$.
(II) Freight 1,000$.
(III) Insurance is not assigned.
(IV) Loading charges is `5,000.
(V) Basic Custom Duty is allowed at 10% on AV.
(B) Who are liable to get the benefit of composition scheme. (3)

group – C (15x1=15)
11. Mr. Rahul Khanna is a manager of ABC ltd has earn the following income during the P.Y 2018 –
2019. Compute his total income and tax payable by Mr. Khanna.
(I) Salary including DA `5,50,000.
(II) Children Education Allowances at `400PM each for his 2 children.
(III) His employer paid his electricity bill of `20,000 and servant salary of `1,200P.M
(IV) His income from House property is `2,35,000.
(V) He earns `1,00,000 from an Indian company as dividend.
(VI) One of his child has earn `40,000 from a musical show.
(VII) He pays `1,50,000 for RPF, for Insurance etc.
(VIII) He paid a medical insurance premium of `20,000 for his family.
Or/
Compute the total income and tax payable by the firm and its partners.
A, B and C are partners sharing profits and losses in the ratio of 3:2:1. They are agreed to
allowed an interest on capital at the rate of 10% P.A. Following is the profits and losses
A/C for the year ended 31/03/2019.

Particulars ` Particulars `
To Salaries to By income from 4,00,000
Partner House property
A 40,000 By interest on FD 50,000
B 15,000
C 20,000
To Commition to B 5000
To Office expenses 7,500
To Depreciation 12,500
To Net profit 3,50,000
4,50,000 4,50,000

Other Information’s:
(I) Depreciation as per IT Rule is `9,000.
(II) Office expenditure includes `1,500 as penalty.
(III) Interest is paid at the rate of 15%P.A for the following Balances `2,00,000
`2,00,000 and `1,00,000.
(IV) The firm gives a donation of `50,000 to fund notified U/S80G.
(V) Mr. A, a partner paid an insurance U/S 80D of `10,000.