Assignment 2-2.docx

Assignment 2 BBA: IV-SEM Paper Code: BBA 212

Subject: Taxation Law

Q1. Answer the following questions: a) Define income. Distinguish between gross total income and total income. b) Define 'assessee' & ‘person’ according to provisions of Income Tax Act, 1961. c) List 10 fully exempted incomes. Q2. A) "Tax liability depends upon the residential status of an assessee." Explain the statement. B) State the main provisions of income tax in respect of the following: (a) HRA (b) Pension (c) Deduction under section 80D (d) Deduction U/S 24 (e) Provident Fund Q3. Mr. Smith an American citizen has come to India for the first time on 10.07.2009, as an employee of a multinational company. The particulars of his arrival and departure are as given below: Date of arrival 10.07.2009 07.02.2010 27.11.2010 24.10.2011 10.09.2012 20.12.2013 Not yet returned

Date of departure 07.08.2009 27.03.2010 07.01.2011 31.12.2011 02.01.2013 13.02.2014

Determine his residential status for previous year 2009-10 to 2013-14.