Visvesvaraya Technological University (VTU) 2007 M.B.A 05FM428 - TAX MANAGEMENT MODEL – I - Question Paper

FOURTH SEMESTER M.B.A MODEL ques. PAPER – I
MASTER OF BUSINESS ADMINISTRATION
05MBAFM428 - TAX MANAGEMENT
ans any 5 full questions, ques. NO.8 is compulsory
All ques. carry equal marks MAX MARKS: 100
1. (a) Who is a person as per Income tax Act 1961? (3 Marks)
(b) discuss the permissible deductions under sec 80D to 80 U (7 Marks)
(c) issue on residential status or incidence of tax (10 Marks)
2. (a) What is cost inflation index? (3 Marks)
(b) “Tax planning is within 4 corners of the Act and it is not a colourable device to avoid the
tax,” Comment (7 Marks)
(c) issue on income from Profession (10 Marks)
3. (a) What is Agricultural income? (3 Marks)
(b) Enumerate any 7 transactions, which are not regarded as transfer for the purpose of
capital gains tax under part 47 of the I.T. Act (7 Marks)
(c) issue on calculation of taxable salary (10 Marks)
4. (a) Distinguish ranging from Capital Receipts and Revenue Receipts (3 Marks)
(b) Enumerate the difference ranging from the evaluation of income for a registered and a nonregistered
firm (7 Marks)
(c) issue covering leave salary and gratuity (10 Marks)
5. (a) State the objectives of the custom duty (3 Marks)
(b) describe the subsequent terms under central excise duty (7 Marks)
i. Manufacturer, ii. Excisable goods, iii. Factory
(c) What is a sale under CST Act? State the transactions, which are not sales under CST Act
(10 Marks)
6. (a) What is block of assets for depreciation purpose? (3 Marks)
(b) discuss any of the parts 44 AD/AE/AF (7 Marks)
(c) issue on calculation of taxable income with reference to MAT (10 Marks)
7. (a) What is MAT? When is it applicable? (5 Marks)
(b) issue on income from business (15 Marks)
8. Case study from the module 3, 4, and six (20 Marks)

Earning:   Approval pending.