Punjab Technical University 2006-5th Sem M.B.A III/I DIRECT TAX PLANNING-II - Question Paper

DIRECT TAX PLANNING-II
MBA, third /4th Semester (2096)

Time: 3 Hours Maximum Marks: 75

This ques. paper consists of 2 parts. A and B
(a) Part- A is compulsory and has 15 short ans ques. (40-60 words) of two marks every.
(b) Part- B has 12 long ans ques. of every five marks each, out of which candidate has to attempt nine ques..


Part – A


1. Explain the subsequent :-
a) What o you understand from the concept of tax planning?
b) Residential status in case of company.
c) Mention perks taxable only for specifies employees.
d) What is Fair Rental Value?
e) Define Block of Assets.
f) What is meant by unabsorbed Depreciation?
g) How Book profits are computed in corporate taxation?
h) Mention 2 points to be kept in mind while preparing Annual A/C by companies.
i) Mention few salient features of assessment of joint stock companies.
j) What incentives have to be kept in mind while selecting location of business.
k) Discuss the tax effects of owned capital and borrowed capital.
l) Discuss the tax treatment of the dividends India the hands of shareholders.
m) Explain the tax effects of leasing for lessor and lessee.
n) Define the concept of double taxation.
o) Briefly list of these assets which are exempted form wealth tax.

(15 x two = 30)

Section – B

2. Describe the different steps by which an individual can plan his tax liability.
3. What deductions are admissible to an individual for making certain payment out of gross income?
4. Explain the provisions of income tax Act, 1961 regarding carry forward and set off of losses.
5. Discuss in detail provisions of Minimum alternate Tax.
6. Explain income tax laws relating to Advance payment of tax.
7. Explain the comparative features of different forms for organization from tax point of view.
8. What incentives have to be kept in mind while selecting nature of business?
9. Explain the different tax considerations involved in make or buy decision.
10. Discuss the different tax implications of shutting down a business.
11. Explain the tax considerations relating to dividend policy.
12. Discuss the planning hints relating to employee’s remuneration.
13. Discuss the tax treatment of ‘inter-corporate dividend’ received by a domestic company. Also provide tax planning hints to such company.

(9 x five = 45)

Earning:   Approval pending.