In this post, we have shared the Gauhati University Direct & Indirect Taxes Question Paper 2016 (Non-CBCS). This question paper is highly beneficial for FYUGP NEP 4th Semester students across all Major specializations.It is particularly useful for students pursuing Accountancy Major, Finance Major, HRM Major, and Marketing Management Major, as the syllabus for Direct & Indirect Taxes under both Non-CBCS and NEP patterns shares significant similarities.
![Direct & Indirect Taxes Question Paper 2016 [Gauhati University BCom 4th Sem FYUGP NEP]](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjVTsRMWO2qmqnkkZENAHO-OTCDg9rYEOxrWruvZDtouBvI78HiGbv32wXPZzDtCPHn2F0Q5siPWmoNNnR_fidn1iMIW4VxOPqyPxxOEZQ83G1ZG6hdTK8C7ITESYFIR8-LyyMukG1r_eS33g5Xr6j9wTIQBEpoflFhOsGT28NMy58zUIObaHFEZ4ftBIx4/s960/Direct%20&%20Indirect%20Taxes%20Question%20Paper%202016%20%5BGauhati%20University%20BCom%204th%20Sem%20FYUGP%20NEP%5D.webp "Direct & Indirect Taxes Question Paper 2016 [Gauhati University BCom 4th Sem FYUGP NEP]")
We strongly recommend studying this Gauhati University FYUGP NEP B.Com 4th Sem Direct & Indirect Taxes question paper from 2016 to boost your preparation for the FYUGP NEP 4th Semester Honours Course. This previous year’s Non-CBCS question paper will serve as a valuable resource for understanding key topics and improving performance in all major courses under the FYUGP NEP 4th-semester syllabus
2016
DIRECT TAXES
PART - A
Full Marks: 80
Time: 3 hours
(The figures in the margin indicate full marks for the questions)
1. (a) State whether the statements are True or False: 1x5=5
1) The rate of income tax for a given year is fixed by the Finance Act passed by the Parliament.
2) Rent of agricultural lands is agricultural income.
3) All types of income whether domestic or foreign are not taxable for non-resident in India.
4) Income from house property is chargeable to tax on the basis of receipt of actual rent.
5) Gift received on the occasion of marriage is not chargeable to tax.
(b) Fill in the blanks with appropriate word: 1x5=5
1) The basis of charge of salary income is as per section _______ of Income Tax Act.
2) Income from other sources is included under _______ head of income.
3) Deduction out of gross total income is allowed to individuals and _______ only.
4) A _______ has to pay tax only on those incomes which are received or accrues in India.
5) Agricultural income is fully exempt from income tax under Section _______ of Income Tax Act.
2. Write short answers to the following in about 50 words each: 2x5=10
a) Write the meaning of ‘previous year’ as per Income Tax Act.
b) Mention any two items of ‘general income’ under the head “Income from other Sources”.
c) Mention any two perquisites which are taxable for all employees.
d) Explain the meaning of ‘long-term capital gains’.
e) State the meaning of ‘agricultural income’ as per Income Tax Act.
3. Describe briefly any four of the following: 5x4=20
a) What is PAN? How can it be procured as per the provisions of the Income Tax Act?
b) Define ‘Net Wealth’ under the Wealth Tax Act.
c) Explain the procedure of ‘Regular assessment’ under Income Tax Act.
d) Explain the manner of computation of tax implication of ‘profit and gain from business and profession’.
e) Define ‘Resident’ and ‘Non-resident’ under Income Tax Act.
f) Explain the provisions of the Income Tax Act regarding ‘tax deducted at source’ from salary income of an individual.
4. (a) What are the various modes of assessment of Income tax as per Income Tax Act, 1961? Discuss in detail. 10
Or
What is meant by Annual value of a house property? How it is determined?
(b) State the deduction available from Gross Total Income (GTI) under Section 80C of Income Tax Act. 10
Or
Define ‘Asset’ as per Wealth Tax Act. What are the components of exempted wealth as per Wealth Tax Act? 10
(c) (1) Mr. R. Saikia of Guwahati is the owner of a house property in Guwahati. The house is let out at a rent of Rs. 10,000 p.m. Its municipal valuation is Rs. 80,000 p.a. and standard rent is Rs. 1,05,000 p.a. The fair rent of the house is Rs. 1,09,000 p.a. The house was self occupied for 2 months and rent for 2 months is outstanding and there is no chance of its recovery as per rules. Municipal tax paid Rs. 7,000.
Compute the net annual value for the Assessment year 2015-16. 5+5=10
(2) State the procedure of filing return by an individual assessee.
Or
State the deduction available from Gross Total Income under Section 80C of the Income Tax Act.
(d) Mr. Yubraj is employed in a Private Limited Company in Guwahati. During the previous year 2014-15, he received the following payments from his employer: 10
Compute his income from salary for the relevant assessment year 10
Or
Define ‘perquisite’. Discuss the perquisites taxable in case of all employees.
INDIRECT TAXATION
PART- B
Answer either in English or Assamese
The figures in the margin indicate full marks for the questions
1. Answer the following as directed: 1x10=10
a) The Central Sales-tax is levied by the _____ Government. (Fill in the blank)
b) Registration under the Central Sales-tax Act, 1956 is compulsory only when a dealer makes an inter-State sales. (Write True or False)
c) Define the term ‘dealer’ under the Central Sales Tax Act.
d) Excise duty is levied on the manufacture of excisable goods in India. (Write True or False)
e) Write the meaning of ‘factory’ as per the Central Excise Act.
f) What is special Excise Duty under the Central Excise Act?
g) What is Import Duty as per the Customs Act, 1962?
h) State the meaning of ‘tax-free goods’ under the Assam VAT Act, 2003.
i) Write the meaning of ‘manufacturer’ as per the Assam VAT Act.
j) ‘Registered dealer’ means a dealer registered under the Assam VAT Act, 2003.
2. Explain the following in about 30 words each: 2x5=10
a) Meaning of ‘inter-state sale’ as per the Central Sales-tax Act.
b) ‘Manufacture’ as per the Central Excise Act.
c) ‘Customs area’ as per the Customs Act.
d) ‘Protective duties’ under the Customs Act.
e) Meaning of ‘goods’ as per the Assam VAT Act.
3. Describe briefly any four of the following: 5x4=20
a) Procedures of registration of dealers under the Central Sales-tax Act.
b) Meaning and essential elements of ‘sales’ as per the Central Sales-tax Act.
c) Basic requirements for levy of Central Excise on excisable goods.
d) Persons requiring registration under the Central Excise Act.
e) ‘Prohibited goods’ under the Customs Act.
f) Various tax authorities under the Assam VAT Act, 2003.
4. Is registration compulsory under the Central Sales-tax Act? Explain the benefits of registration under the Central Sales-tax Act. 2+8=10
Or
Explain the provisions relating to ‘inter-State sale’ or ‘transfer of goods’ under the Central Sales-tax Act. 10
5. Describe the procedure of valuation of ‘excisable goods’ as per the Central Excise Act. Who are the persons liable to pay excise duty under this Act? 6+4=10
Or
State the procedure of collection of Central Excise Duty. Explain the need of granting exemption from central excise duty. 4+6=10
6. State the objectives of enactment of the Customs Act. Discuss the duties of the custom officers. 5+5=10
Or
Write short notes on the following as per the Customs Act: 2 ½ x 4 = 10
a) Export goods.
b) Import manifest.
c) Baggage.
d) Importer.
7. Explain the objectives of the Assam VAT Act. State the procedure of payment of tax under this Act. 5+5=10
Or
What are the goods covered under the Value Added Tax (VAT)? State the different modes of registration under the Assam VAT Act. 4+6=10
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