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 […]
Tag: osmania university llb 6th semester previous question papers
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 […]
18. Give a detailed note on procedure of Registration under GST Act, 2017.
The Goods and Services Tax (GST) Act, 2017 revolutionized India’s indirect tax system by introducing a single unified tax regime. A crucial part of compliance […]
17. Who can be the member of the Appellate Tribunal ?
Who Can Be a Member of the Appellate Tribunal? – Explained Under Indian Income Tax Law In India’s complex taxation system, disputes between taxpayers and […]
16. Explain the salient features of the General Sales Tax Act.
Before the introduction of the Goods and Services Tax (GST) in India in 2017, the primary law governing the taxation on sale of goods was […]