DPG DEGREE COLLEGE

(Affiliated to MDU Rohtak)

Sector-34, Near Marble Market, Gurugram
Recognized 2(f) by UGC & Accredited with ‘A’ Grade by
NAAC

Question bank

Course: BBA 6 Subject: Income Tax Faculty: Ms. Jyoti Sinha

Q.1: What is causal Income

Q.2: Define Tax Evasion and Tax Avoidance

Q.3: Describe Hindu Undivided Family.

Q.4: Income deemed to accrue or arise in India

Q.5: Meaning of Indian Income and Foreign Income under Income Tax

Q.6: Define meaning of Previous year and Assessment Year under Income Tax

Q.7: What is Income Tax? Describe the history of Income Tax in India. What is the basis
and procedure of charged Income Tax in India?

Q.8: What do you mean by residential status? Explain the provision to determine
residential status of Individual.
Q.9: What are different categories of assesses according to their residential status? How
is this status determined?

Q.10: Define Agricultural Income as defined under section 2 (IA) of Income Tax Act
1961, What is partly agriculture and partly non agriculture Income?

Q.11: What are different incomes which are fully exempted under section 10 of Income
Tax Act?

Q.12: How to Calculate of Annual Value of House.

Q.13: Define Fair Rent and Annual Rent under Income from house property

Q.14: Give the List of Taxable Perquisites and Taxable Allowance

Q.15: What is the provision of Entertainment Allowance.

Q.16: Give a short note on following:

a) House Rent Allowance

b) Rent Free house

c) Medical Facility

d) Car Facility

e) Leave Travel Concession.

Q.17: What is block of Assets under Income Tax

Q.18: Explain clearly the deductions that are expressly allowed in computing the income
from business under the Income Tax Act 1961.

Q.19: Explain the detail provision of taxable income from house property.

Q.20: Explain the chargeability of tax under "Income from House Property".

Q.21: Explain the chargeability of tax under "Income from Capital Gain".

Q.22: Discuss the composition of salary from Income Tax point of view. Discuss the
fully Tax-free allowances.

Q.23: Define carry forward of losses. Give List the losses that cannot be carry forward.

Q.24: Additional Depreciation

Q.25: Tax on interest income of saving bank account

Q.26: State some deductions allowed in computing Income from other sources

Q.27: Describe in detail Set off of losses from one source against Income from the same
source and other source of Income.

Q.28: Income of Minor Child.

Q.29: Describe in detail the provision of clubbing of income of an assesses under Income
tax.

Q.30: What is the tax treatment of income from lottery

Q.31: Tax provision of zero-coupon bonds

Q.32: What do you understand by the term "Capital Gains" used in Income Tax Act.
What are the rules regarding exemption of Capital Gains?

Q. 33: What do you mean by "Set off and carry forward of losses"? Which losses can be
carried forward?

Q.34: What are different incomes on deductions of tax at source applicable?

Q.35: What is short term and long-term capital gains? Explain how to calculate short
term and long-term capital gain.

Q.36: Explain the deduction U/S 80 C.

Q.37: Mention Various kinds of deduction under section 80 D

Q. 38.Define clubbing of Income.

Q. 39.Write short note on tax rates .
Q.40.Explain tax Evasion.
Q.41Define carry forward of losses .

Q.42What are different categories of assesses according to their residential status ? How
is this status determined?

Q.43. Define agriculture income as defined under section 2(1A) of income tax act ,1961.

Q.44. Discuss the composition of salary from income tax point of view . Discuss the fully
tax free allowances.

Q.45. How income from house property is calculated? Explain in detail .

Q.46. What is short term and long term capital gains? Explain how to calculate short term
and long term capital gains.

Q.47. What deductions are allowed under the head "Income from other sources". ?
Q.48. Enumerate the various rebate and reliefs available to individual under Income - tax
act , 1961.

Q. 49. Explain the various deductions allowable to individuals from their total income in
respect of their incomes and payments .

Q. 50.Explain the provision to determine residential status of Individual.