To reduce the compliance burden for small taxpayers, the Income Tax Act, 1961 offers a Presumptive Taxation Scheme under Sections 44AD, 44ADA, and 44AE. These […]
Category: LLB 6th Sem Law of Taxation [Long Answers]
Osmania Univerisity 3YDC 6th SEM Law of Taxation
29) Define “Value of Supply”. Explain how the value of supply is determined in the case of Good and Services under GST ACT ?
Understanding the “Value of Supply” Under the GST Act: A Comprehensive Guide The Goods and Services Tax (GST) is a transformative tax system introduced in […]
25. What tests would you apply to determine the residence of :
a) a Hindu undivided family, b) a limited company c) an Individual d) Mention the penalties imposed under the following cases Understanding the Tax Residency […]
27. What are the various deductions allowed under the head salaries and income from house property
Under the Income Tax Act, 1961, individuals earning income from salary or house property are eligible to claim various deductions that help reduce their taxable […]
26. a )Failure to furnish returns under section 271? b) Failure to pay Advance Tax?
Tax compliance is a crucial responsibility of every citizen and business entity in India. The Income Tax Act, 1961 outlines not only how income should […]
24. What is income? Write a brief note about the incidence of Tax ?
Introduction In the world of taxation, the term “income” goes far beyond just your monthly salary. Under the Indian Income Tax Act, 1961, income includes […]
22. What is tax evasion and tax avoidance? Discuss their effects and methods of prevention
Introduction Every government depends heavily on taxes for funding public services, infrastructure, and welfare programs. Yet, not everyone willingly fulfills their tax obligations. In India, […]
21. Define income and explain the concept of Income tax.
The Income Tax Act, 1961 is the cornerstone of India’s direct taxation system. It lays out the legal framework for the collection of taxes on […]
20. What are the various deductions allowed under the head salaries and income from house property ?
Introduction Understanding your tax deductions is a smart way to optimize your financial planning. Under the Indian Income Tax Act, income is classified under five […]
19. Explain how tax liability of an assessee is determined with reference to Residence ?
Introduction Understanding how tax liability is determined under the Indian Income Tax Act is crucial for every taxpayer, especially those with global income sources or […]