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DRIVE
Spring
2018
PROGRAM
MBA
SEMESTER
3
SUBJECT
CODE & NAME
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
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 iton 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 theproceeds of the plot.
a) Bonds of Rural
Electrification
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
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
Option 1: Slump sale
|
Computation of net
worth of Unit C
|
(in lakhs)
|
|
Land (book value)
|
30
|
|
Goodwill (book
value)
|
10
|
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
Service tax was
introduced in India in 1994 by Chapter V of the Finance Act,1994. It was
imposed on an initial set of three services in 1994 and the scope of the
service tax has since
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 India at $10,000 on assessable value basis.
Relevant exchange rate and rate of duty are as follows:
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students get fully solved assignments
Send
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