Devi Ahilya University 2010 M.B.A Tax Planning

Tax Planning & Management

Q.1 describe Wealth Tax. discuss the provisions relating to calculation of wealth tax. (Imp)

Q.2 Define: Income Sec. 2( 24) Previous Year, Assessment Year, Total Income , Gross Total Income .
OR

describe `Assessment Year' and `Previous Year'. "Income of the previous year is charged to the immediately subsequent assessment year." Is there an exception to this rule? (Imp)

Q.3 discuss the different income s exempted from tax u/s 10.( Imp)

Q.4 How is the residence of an assessee determined for income tax purposes? discuss the relationship ranging from residence and tax liability.(Imp)

Q.5 elaborate the deductions allowed u/s 37 to calculate income from business or profession? State also disallowed expenses.(Imp)

Q.6 What do you mean by `Capital Gain' under the Income tax Act? elaborate the provisions for exemption of capital gains u/s 10 and u/s 54? (Imp)

Q.7 explain the deductions u/s 80 from Gross Total Income which are important for tax planning.(Imp)

Q.8 elaborate the provisions of the income Tax Act regarding the deduction of Income tax at source.( under the head salaries and interest on securities.)(Imp)

Q.9 discuss the provisions of Income tax act relating to tax planning in respect to NRIs.(Imp)

Q. 10 What do you understand by "Advance Tax" ? How is it computed? explain the provisions of income Tax act regarding its payments. (Imp)

Q.11 define the provisions regarding retirement benefits (gratuity, pension, regular pension, leave salary, compensation) under Income tax act with example. (Imp)

Short Questions:-

Q.1 explain the provisions under the Income Tax act relating to set off and carry forward of losses.

Q.2 discuss the Important provisions of Income Tax Act 1956.

Q.3 describe Agricultural Income. discuss its kinds and also discuss the influence of Income tax on tax liability.

Q.4 explain the special provisions of Income Tax relating to calculation of taxable income of contractors (sec. 44 AD), Truck operators (Sec. 44 AE) and Retail traders (sec. 44 AF).

Earning:   Approval pending.