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Sample Paper for Integrated MBA in Corporate Taxation Planning 2nd year of Finance ManagementItsMyAcademy.com

Sample Paper for Integrated MBA in Corporate Taxation Planning 2nd year of Finance Management

MBA (FINANCE MANAGEMENT), SEMESTER – III, YEAR-2

CORPORATE TAXATION PLANNING

Duration -3 Hours                                                                                      Max Marks: 60

Note:  1. Attempt any FIVE questions.

           2. All questions carry equal marks.

  1. What are the specific provisions as concerned to depreciation and set off of losses and carry forward of losses.
  2. What is agriculture and non- agriculture income? What is the tax treatment of Income which is partially agriculture and partially from business?
  3. The incidence of income tax depends upon the residential status of an assessee. Discuss in detail.
  4. Do you think there is a difference between Business and profession? Give reasons for the same. What the provisions are as contained in the act with respect to business and profession.
  5. X is in the teaching staff of a well-known private college in Pune. During the previous year, he gets the following emoluments: Basic salary: Rs. 1,86,000; dearness allowance: Rs. 12,300 (forming part of salary) ; city compensatory allowance: Rs. 3,100 ; children’s education allowance: Rs. 2,340 (Rs. 65 per month for 3 children); house rent allowance: Rs. 16,200 (rent paid: Rs. 20,000) and remuneration from the Delhi University for acting as paper setter and examiner: Rs. 36,400 (expenditure incurred by X Rs. 3,400). He gets Rs. 18,890 as reimbursement from the employer in respect of expenditure inccrred on medical treatment of his family members from a doctor. Besides, he gets Rs. 12,600 as reimbursement from the employer in respect of books and journals purchased by him for discharging his official work. During the year, he spends Rs. 3,000 on purchase of books for teaching purposes (not being reimbursed by the employer). Besides, he makes an expenditure of Rs. 6,000 on maintaining car for going to the college. Determine the taxable income and tax liability of X for the current assessment year. Does it make any difference if education allowance is for the grandchildren of X? If yes, How?
  6. What are the salient features of assessment of companies under the Income-tax Act, 1961? Discuss in this connection the ‘companies in which the public are substantially interested” and their tax liability.
  7. R has a house property inDelhi. From the following particulars submitted to you. Compute the income from house property for the current assessment year.

Municipal Valuation              Rs. 90,000

Fair rent                                  Rs. 1, 10,000

Standard rent                         Rs. 1, 00,000

The house property was let out for whole year for Rs. 8,000 per month.

Municipal Taxes paid             Rs. 20% of municipal valuation.

Insurance premium paid         Rs. 3000

Interest on money borrowed for purchase of house property       Rs. 30000

  1. What is tax deducted at source. Discuss the provision of TDS in detail.
  2. Write short note on:
    1. Assessment Year
    2. Previous Year
    3. Person

Note: Above Sample Paper for Integrated MBA in Corporate Taxation Planning 2nd year of Finance Management has been prepared after reviewing few universities sample papers. We are not sure whether same or similar question papers pattern does your university has or not. We are just trying to help you by providing the possibilities. We always suggest you to go thoroughly with textbooks, teacher’s notes and the syllabus for better preparation of your coming examination.

All the Best!!

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