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DRIVE - Spring 2018
PROGRAM
MBA
SEMESTER
3
SUBJECT CODE & NAME
FIN 303- TAXATION MANAGEMENT
Note: Answer all questions. Kindly note that answers for 10 marks
questions should be approximately of 400words. Each question is followed by
evaluation scheme.
Q1.Explain the objectives of tax planning.
Discuss the factors to be considered in taxplanning.
(Objectives
of tax planning, Factors in tax planning) 5,5
Answer-1
Objectives
of Tax Planning
The
prime objectives of tax planning are:
Multi-dimensional investment decisions: In
a democratic welfare state like India the government requires substantial
investment in infrastructure, education and healthcare.
Q2.Explain the categories in Capital assets.
Mr. C acquired a plot of land on 15th
June, 2007 for 10,00,000 and sold it on 5th
January, 2016 for 41,00,000. The
expenses of transfer were 1,00,000.
Mr. C made the following investments
on 4th February, 2016 from the proceeds of theplot.
a) Bonds of Rural Electrification
Corporation redeemable after a period of three years,12,00,000
b) Deposits under Capital Gain Scheme
for purchase of a residential house 8,00,000 (hedoes not own any house)
Compute the capital gain chargeable to
tax for the AY2016-17.
(Explanation of categories of capital
assets, Calculation of indexed cost of acquisition, Calculation of long term
capital gain, Calculation of taxable long term capital gain) 4,2,2,2
Answer-2
Categories
of capital assets
Mr.
A acquired a plot of land on 15th June, 2007 for ` 10,00,000 and sold it on 5th
January, 2016 for ` 41,00,000. The expenses of transfer were` 1,00,000.
Mr.
A made the following investments on 4th February, 2016 from the
Q3.Explain major considerations in capital
structure planning. Write about the dividend policy and factors affecting
dividend decisions.
(Explanation
of factors of capital structure planning, Explanation of dividend policy, Factors
affecting dividend decisions) 6, 2, 2
Answer-3
Major
considerations in capital structure planning
Broadly,
the following factors would be worth considering, while planning the capital
structure.
1.
Risk of two kinds, that is,
financial risk and business risk: In the context of capital
structure planning, financial risk is more relevant.
2.
Cost of capital: Cost of
capital is an important consideration in capital structure decisions. It is
obvious that a business should be at least capable of earning enough revenue to
meet its cost of capital and finance its growth.
3.
Control: Along with cost
and risk factors, the control aspect is
SET 2
Q1.X Ltd. has Unit C which is not functioning
satisfactorily. The following are the details of its fixed assets:
The
written down value (WDV) is ` 25 lakh for the machinery, and15 lakh for the
plant. The liabilities on this Unit on 31st March, 2016 are35 lakh.
The
following are two options as on 31st March, 2016:
Option
1: Slump sale to Y Ltd for a consideration of 85 lakh.
Option
2: Individual sale of assets as follows: Land ` 48 lakh, goodwill ` 20
lakh,machinery 32 lakh, Plant 17 lakh.
The
other units derive taxable income and there is no carry forward of loss or
depreciation for the company as a whole. Unit C was started on 1st January,
2005.Which option would you choose, and why?
(Computation
of capital gain for both the options, Computation of tax liability for both the
options, Conclusion) 4,4,2
Answer-4
Q2.Explain the Service Tax Law in India and
concept of negative list. Write about theexemptions and rebates in Service Tax
Law.
(Explanation
of Service Tax Law in India, Explanation of concept of negative list, Explanation
of exemptions and rebates in Service Tax Law) 5, 2 , 3
Answer-5
Service
Tax Law in India
Q3.What do you understand by customs duty?
Explain the taxable events for imported, warehoused and exported goods. List
down the types of duties in customs
An
importer imports goods for subsequent sale in
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