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  • Quesbank 290216034511

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    This document contains a question bank for an Income Tax Law & Practice exam. It lists 10 questions related to key concepts in income tax law, including determining residential status, tax treatment of salaries, perquisites, capital gains, clubbing of income, and deductions. The questions cover topics such as previous year definitions, assessee classification, computation of income from house property, short-term capital gains, tax treatment of various income types, and provisions for carrying forward losses.

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    This document contains a question bank for an Income Tax Law & Practice exam. It lists 10 questions related to key concepts in income tax law, including determining residential status, tax treatment of salaries, perquisites, capital gains, clubbing of income, and deductions. The questions cover topics such as previous year definitions, assessee classification, computation of income from house property, short-term capital gains, tax treatment of various income types, and provisions for carrying forward losses.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    3 views1 page

    Quesbank 290216034511

    Uploaded by

    Soniya.S
    This document contains a question bank for an Income Tax Law & Practice exam. It lists 10 questions related to key concepts in income tax law, including determining residential status, tax treatment of salaries, perquisites, capital gains, clubbing of income, and deductions. The questions cover topics such as previous year definitions, assessee classification, computation of income from house property, short-term capital gains, tax treatment of various income types, and provisions for carrying forward losses.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    QUESTION BANK

    PAPER-16: INCOME TAX LAW & PRACTICE

    1. Write short notes on:


    a. Previous Year
    b. Person
    c. Assessee

    2. How will you determine residential status of:


    a. Individual
    b. HUF
    c. Company

    3. What do you mean by salaries? Give the tax treatment:


    a. House Rent Allowance
    b. Pension
    c. Gratuity

    4. What do you mean by Perquisites? Give tax treatment of rent -free accommodation and
    motor car

    5. Give the procedure for computation of annual value of let -out house. What are the
    deductions available for income from house property?

    6. What is the procedure of computation of short - term capital gains on transfer of


    depreciable assets?

    7. Discuss the following:


    a. Tax treatment of lottery income
    b. Interest
    c. Taxability of income from letting out of capital assets

    8. Explain the meaning of clubbing of income. When transfer of income is clubbed when
    there is no transfer of assets?

    9. Discuss provisions relating to carry forward and set- off of losses

    10. What are savings based deductions?

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