TAXATION

Time allowed : 3 hours

Maximum Marks : 60

General Instructions :
(i) All questions are compulsory.
(ii) Marks for questions are indicated against each question.
(iii) Question nos. 1 to 9 are very short answer questions carrying 1 mark each.
(iv) Question nos. 10 to 17 are short answer questions carrying 2 marks each. Answer to them should not normally exceed 50 words each.
(v) Question nos. 18 to 22 are also short answer questions carrying 3 marks each. Answer to them should not normally exceed 70 words each.
(vi) Question nos. 23 to 26 are long answer questions carrying 5 marks each. Answer to them should not normally exceed 150 words each.
(vii) Answer should be brief and to the point.

1. State any two assessees who are allowed deduction u/s 80 C for National Saving Certificates VIII issue or IX issue.
2. Who is entitled to deduction in respect of contribution to pension scheme of Central Govt. u/s 80 CCD ?
3. State the period of holding under unit linked insurance plan for deduction u/s 80 C for the amount paid by an individual.
4. What condition should be satisfied to deduct tax at source from winnings from lotteries or crosswords puzzles etc. u/s 194 B ?

5. Who is liable to pay advance tax ?
6. State any two examples of goods outside VAT.
7. What is ‘Form C’ in Central Sales Tax ?
8. State any two points giving the need of introducing VAT.
9. What is meant by ‘Reverse Change Mechanism’ in Service Tax ?
10. State the conditions which must be satisfied the claim deduction in respect of medical treatment u/s 80 DDB.
11. State the income tax slabs for financial year 2015-16 for very senior citizens aged 80 years and above on the basis of which their tax liability is computed.
12. For calculation of taxable income of an individual according to the provisions of Income Tax Act 1961, give the meaning of the terms ‘Individual’ and ‘Taxable Income’.
13. Can the assessing officer ask the assessee to pay advance tax or the tax payer has to pay advance tax at his own after estimating his own current year income ? Explain.

14. What is meant by ‘Interstate’ and ‘Intrastate’ sales ? State the type of sale in which CST is payable and also the state where the CST is payable.
15. State any two conditions that should be fulfilled in order to charge service tax from individual provider as well as companies in India.
16. What is meant by ‘Abatement’ in Service Tax ?
17. Who is liable to apply for registration under Service Tax ? State the form, which he has to submit for registration and the period within which he has to apply for registration.
18. X submits the following particulars of his income for the previous year 2015-16 :
(i) Income from salary ₹ 3,60,000
(ii) Long term capital gain ₹ 1,20,000
(iii) Rent received ₹ 2,500 p.m.
During the year, he paid ₹ 5,000 in public provident fund and ₹12,000 to Prime Minister National Relief Fund. Calculate his taxable income for the assessment year 2016-17.

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Courtesy: CBSE