NMIMS University 2005 Diploma Business Administration Corporate Taxation (Direct & Indirect) - Question Paper

NARSEE MONJEE INSTITUTE OF MANAGEMENT STUDIES, MUMBAI-56.
(DEEMED UNIVERSITY)

DISTANCE LEARNING PROGRAMMES IN MANAGEMENT

CORPORATE TAXATION

DHRM / PGDHRM I / DBM / PGDBM I /
DFM / PGDFM I / DMM / PGDMM I


DATE: 11 / five / 2005 TOTAL MARKS: 100

TIME: two PM TO five PM

NOTE : ANSWERS TO BOTH THE parts SHOULD BE WRITTEN IN

SEPARATE ans BOOKS .

part I

DIRECT

INSTRUCTIONS:

1. Attempt any 2 out of 4 ques.. All ques. carry equal marks
2. All sub-questions to a main ques. must be together at 1 place.
3. begin every main ques. on a new page.
4. Write the ques. Numbers clearly in the left margin.
5. Handwriting must be neat and legible.
6. Marks will be provided for conceptual clarity and not the length of the ans.


Q.1. discuss what is meant by the Canons of Taxation ?

Q.2. discuss the subsequent with examples:

a) Exemptions from income
b) Deductions from heads of income
c)Deductions from Gross Total Income

Q.3. discuss the process of calculation of taxable income of a Company. How is it various from the audited P&L account as per the Companies Act.

Q.4. discuss in detail the different aspects of Depreciation Allowance under the Income Tax Act.


part II

INDIRECT


NOTE : I. ques. No I is compulsory and ans any three ques.
from the remaining ques..

II. Total no. of ques. is eight.

III. Marks are indicated to the right of every ques..

Q.1 explain the salient features of the Customs Act 1962. [Marks 14]

Q.2 explain the “settlement commission “ under Central excise Act 1944. [Marks 12]

Q.3 explain the Customs Tariff Act 1975 [Marks 12]

Q.4 explain the salient features of service tax ( Finance Act 1994 as amended) [Marks 12]

Q.5 Write short notes on the subsequent ( any 2 ) [Marks 12]

a) CETA 1985
b) Central Excise evaluation Rules 2000
c) Inter- state sale
d) 2nd and following sale.

Q.6 explain the Cenvat Credit Rules. [Marks 12]

Q.7 explain briefly the subsequent. [Marks 12]

a) Central Excise Rules 2002
b) VAT

Q.8 explain briefly whether the subsequent statements are actual or false. [Marks 12]

a) VAT is a multi point tax.
b) Branch transfers are exempt under CST.
c) part three of CST overrides part 4
d) Goods removed from the factory for job work must come back within 180 days.

Earning:   Approval pending.