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P79/FMG401/EE/20170618

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Time : 3 Hours Marks : 80

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Instructions :

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1. All Questions are Compulsory.

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2. Each Sub-question carry 5 marks.

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3. Each Sub-question should be answered between 75 to 100 words. Write every questions
answer on separate page.

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4. Question paper of 80 Marks, it will be converted in to your programme structure marks.

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1. Solve any four sub-questions.

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a) What is Annual value? Explain its factors. 5
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b) State the conditions for claiming depreciation. 5
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c) Write the procedure for registration of an assesse. 5

d) Define capital asset. Explain its types. 5

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e) Discuss the negative list of services. 5

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2. Solve any four sub-questions.

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a) Write the allowances of a salaried person. 5

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b) Explain the scheme of Taxation under VAT. 5

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c) Explain the subtraction method of VAT. 5

d) State the various categories of Income Tax slabs and Rates. 5

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e) Differentiate between deductions and exemptions. 5

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KA17-3030 P79/FMG401/EE/20170618 : 1 (P.T.O.)

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3. Solve any four sub-questions.

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a) Differentiate between Direct Tax and Indirect Tax. 5

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b) What do you mean by service tax? Explain its approaches. 5

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c) How to compute the Income from other sources. 5

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d) What is Tax abatement? List any three abatement in service tax. 5

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e) Which documents are required for the purpose of Registration? 5

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4. Solve any four sub-questions.

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a) Which person is not liable to pay advance tax? 5

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b) Give the advantages of VAT. 20 5
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c) Write the deduction for donation towards social causes : Section 80G. 5
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d) What is valuation? 5
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e) Differentiate between gross Annual value and Net annual value. 5

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