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?

1.XYZ LLP is being liquidated. Examine the liability of its partners in respect of its tax dues?

2.XYZ LLP has an income of Rs. 72,00,000 under the head 'profits and gains of business or profession'. One of its business is eligible for deduction @ 100% of profits under section 80- IB for the assessment year 2021-22. The profit from such business included in the business income is Rs. 58,00,000. Compute the tax payable by the LLP, assuming that it has no other income during the previous year 2020-21.

3.Mr. X, carrying on the business of operating a warehousing facility for storage of sugar, has a total income of Rs. 80 lakh. In computing the total income, he had claimed deduction under section 35AD to the tune of Rs. 70 lakh on investment in building (on 1.4.2020) for operating the warehousing facility for storage of sugar. Compute his tax liability for A.Y.2021-22. Show the calculations of Alternate minimum Tax also.

4.Minimum Alternate Tax (MAT) is attracted under section 115JB, on account of tax on total income being less than 15% of net profit as per the profit and loss account for the relevant previous year. Comment

5."The provisions of section 115JB are not applicable in case of foreign companies". Examine in the context of the provisions contained in the various Chapters of the Income Tax Act, 1961

6.Parul Pvt. Ltd. made a provision of Rs. 50 lakhs for doubtful debts by debit to profit and loss account. The Assessing Officer, while computing book profit under section 115JB, disallowed the provision for doubtful debts. Is the action of Assessing Officer justified? Comment.

7.ABC Ltd. has invested in bonds of National Highway Authority of India within the prescribed time and claimed exemption on the income from long-term capital gains under section 54EC. Further, it also claimed exclusion of long-term capital gains in the computation of "book profit" under section 115JB because of exemption available on it by virtue of section 54EC. The Assessing Officer however, reckoned the book profit including long-term capital gains for the purpose of levy of minimum alternate tax payable under section 115JB. Is the action of the Assessing Officer justified? Comment

8.Whether MAT credit admissible under section 115JAA has to be set-off against the assessed tax payable before calculating interest under sections 234A, 234B and 234C? Comment.

9.During the Financial Year 2020-21, a badminton professional and a non-Indian citizen participated in India in a badminton tournament and won prize money of Rs. 30 lakhs. He contributed articles on the tournament in a local newspaper for which he was paid Rs. 2 lakh. Although his expenses were met by sponsors, he had incur Rs. 6,00,000 towards his travel costs to India. He was non-resident for tax purposes in India. What would be his tax liability in India for AY 2021-22? Is he required to file his return of income?

10.Write short note on tax on distributed income by a company for buy-back of unlisted shares. Also comment would there be any tax implication in the hands of the shareholders.