Exam.Code:0678 Sub, Code: 4895 2022 B.A./B.Com. LL.B. (Hons.) Ninth Semester Paper — V: Principles of Taxation Laws (Same for B.Com LL.B.) Time allowed: 3 Hours Max. Marks: 60 NOTE: Attempt {ive questions in all, including Question No. IX (Unit-V) which is compulsory I UL mM. lv. VL VIL and selecting one question each from Unit I-IV. sone UNIT—1 ‘Scope of Total Income depends upon Residential Status of Person’. Discuss the above statement by referring the provisions of Section 5 of the Income Tax Act, 1961. Enumerate the incomes which are deemed to accrue or arise in India. to) Explain the following:- 1) Assesses including Deemed Assessee and Default Assessee b) Return of Income (xs) UNIT - IT Define ‘Salary’ and ‘Allowances’. Discuss the basic conditions for chargeability of income under the head Salaries? What are the deductions allowable from Salary? (10) Write a detailed note on Exempted Incomes ws 10 of the Income Tax Act, 1961. (10) UNIT- UI Discuss the facts, issues and law laid down in Mahavir Irrigation Pvt. Ltd. v. ITO, (2007) 164 Taxman 561 (Del.). (10) Explain the circumstances in which income of the other person included in assessee's total income. Answer with the help of examples and ease laws. (10) UNIT -IV Define Set-Off and Carry-Forward of Losses. Discuss the various rules provided for set- off of losses from same head and one head against the income of another head? (10) PTO.Sub. Code: 4895 VILL. Discuss in detail the Permissible Deductions from Gross Total Income of Assesses under Section 80-C, 80CCC. 80CCD and 80-U of the Income Tax Act, 1961. (10) UNIT-v IX. Write detailed note on the following:- a) Person b) Define ‘Agricultural Income. Why Agricultural Income is exempted from Income Tax? ¢) Income from Other Sources 4) Owner of the Property and Deemed Owner of the Property ©) Advance Tax and Tax Deducted at Source (Sx4) wer