Weekly Test Questions

Date: 12/07/2024

Subject:DTXN

Question 1.
Write short note on Explain the term ax planning and tax evasion”

Question 2.
Explain the difference between ‘Total Income’ and ‘Gross Total Income’.

Question 3.
What are the circumstances in which previous year and assessment year will be
the same?

Question 4.
Explain the term “substantial interest” defined in Section 2(32) and its application
in at least two situations.

Question 5.
Statu the situations in which the income of the assessee can be assessed in the
previous year itself, instead of in the assessment
year.

Question 6.
Explain the following concepts
Tax Planning
Tax Avoidance
Tax Evasion

Question 7.
With brief reasons, state whether the following constitute capital or revenue
expenditure/ receipt:
(i) Compensation paid to customer for defect in goods supplied.
(ii) Outright purchase of patent by paying ₹ 25 lakhs.
(iii) Construction of building on land taken on lease basis.
(iv) Arrear wages to employees for earlier years after entering into agreement
with Labour Union.
(v) Painting expenditure for company’s registered office building.
(vi) Liquidated damages received from supplier for delay in supply of machinery.