SMU MBA SEM 3 – MF0012 & TAXATION MANAGEMENT SUMMER 2016

 

 

ASSIGNMENT

Dear Students,

SMU MBA SUMMER 2016 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420 or S M S your “ Email ID ” us in the following Format “ On +91 9995105420 we will reach back you with in 24H ”

 

DRIVE SUMMER 2016
PROGRAM MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3)
SUBJECT CODE & NAME MF0012 & TAXATION MANAGEMENT
BK ID B1760
CREDITS 4
MARKS 60

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q.No Questions Marks Total Marks
1 Explain the objectives of tax planning. Discuss the factors to be considered in tax planning.
  Objectives of tax planning Factors in tax planning 5

5

10
2 Explain the categories in Capital assets.

Mr. C acquired a plot of land on 15th June, 1993 for Rs.10,00,000 and sold it on 5th January, 2010 for Rs.41,00,000. The expenses of transfer were Rs.1,00,000.

Mr. C made the following investments on 4th February, 2010 from the proceeds of the plot.

a)      Bonds of Rural Electrification Corporation redeemable after a period of three years,

Rs.12,00,000

b)      Deposits under Capital Gain Scheme for purchase of a residential house Rs.8,00,000 (he does not own any house)

Compute the capital gain chargeable to tax for the AY2010-11.

  Explanation of categories of capital assets 4 10
Calculation of indexed cost of acquisition 2
Calculation of long term capital gain 2
Calculation of taxable long term capital gain 2
3 Explain major considerations in capital structure planning. Write about the dividend policy and factors affecting dividend decisions.
  Explanation of factors of capital structure planning 6 10
   

Explanation of dividend policy Factors affecting dividend decisions

 

2

2

 
4 X Ltd. has Unit C which is not functioning satisfactorily. The following are the details of its fixed assets:

 

Asset

Date of acquisition Book value (` lakh)
Land 10th February, 30
Goodwill (raised in books on 31st  March, 2003 10
2005)    
Machinery 5th April, 1999 40
Plant 12th April, 2004 20

 

 

 

 

 

 

 

 

 

 

 

 
The written down value (WDV) is ` 25 lakh for the machinery, and

15 lakh for the plant. The liabilities on this Unit on 31st March, 2011 are 35 lakh.

The following are two options as on 31st March, 2011:

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

10
5 Explain the Service Tax Law in India and concept of negative list. Write about the exemptions 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

10
6 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:

  Particulars Date Exchange Rate Declared Rate of Basic  
        by CBE&C Customs Duty  
Date of submission of bill of entry 25th February, 2010 ` 45/$ 8 %
Date of entry inwards granted to the vessel 5th March, 2010 ` 49/$ 10%
Calculate assessable value and customs duty.
  Meaning and explanation of customs duty 2 10
Explanation of taxable events for imported, warehoused and 3
exported goods 2
Listing of duties in customs 3
Calculation of assessable value and customs duty.

 

 

Dear Students,

SMU MBA SUMMER 2016 Assignments are available. For Booking ,Kindly mail us on kvsude@gmail.com OR call us to +91 9995105420 or S M S your “ Email ID ” us in the following Format “ On +91 9995105420 we will reach back you with in 24H ”