Download GTU (Gujarat Technological University) MBA (Master of Business Administration) 2019 Summer 3rd Sem 3539282 Corporate Tax Planning Previous Question Paper
Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER (3) ? EXAMINATION ? SUMMER 2019
Subject Code: 3539282 Date:06/05/2019
Subject Name: Corporate tax Planning
Time: 02.30 PM TO 05.30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q. No. Question Text and Description Marks
Q.1 Definitions / terms / explanations / short questions based on concepts of
theory/practical
(a) Tax Evasion
(b) Double Taxation
(c) Permissible Deduction
(d) GST
(e) Assessee
(f) Domestic Company
(g) Define LLP
14
Q.2 (a) Explain capital gain exemption under sections 54 to 54 GA. 07
(b) State and explain briefly any 4 Deduction allowable under section
80 of Income Tax Act.
07
OR
(b) State the method of computation of Book Profit (115 JB) for the
company.
07
Q.3 (a) List out different areas of Tax Planning and explain any two in
detailed.
07
(b) Discuss the tax provisions for Sections 33AB-Tea/Coffee/Rubber
Development Account and 44AE-Transport Operators.
07
OR
Q.3 (a) When is Minimum Alternate Tax applicable? How is Minimum
Alternate Tax Calculated?
07
(b) Explain giving suitable example - tax planning & tax avoidance. 07
Q.4 (a) Explain incidence of tax for company and HUF 07
(b) Give illustration to explain Indian income & foreign income. 07
OR
Q.4 (a) Discuss Arm?s Length Price and explain in detail the methods of
computing ALP
07
(b) Describe any 14 incomes that are exempted from tax. 07
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Page 1 of 2
Seat No.: ________ Enrolment No.___________
GUJARAT TECHNOLOGICAL UNIVERSITY
MBA ? SEMESTER (3) ? EXAMINATION ? SUMMER 2019
Subject Code: 3539282 Date:06/05/2019
Subject Name: Corporate tax Planning
Time: 02.30 PM TO 05.30 PM Total Marks: 70
Instructions:
1. Attempt all questions.
2. Make suitable assumptions wherever necessary.
3. Figures to the right indicate full marks.
Q. No. Question Text and Description Marks
Q.1 Definitions / terms / explanations / short questions based on concepts of
theory/practical
(a) Tax Evasion
(b) Double Taxation
(c) Permissible Deduction
(d) GST
(e) Assessee
(f) Domestic Company
(g) Define LLP
14
Q.2 (a) Explain capital gain exemption under sections 54 to 54 GA. 07
(b) State and explain briefly any 4 Deduction allowable under section
80 of Income Tax Act.
07
OR
(b) State the method of computation of Book Profit (115 JB) for the
company.
07
Q.3 (a) List out different areas of Tax Planning and explain any two in
detailed.
07
(b) Discuss the tax provisions for Sections 33AB-Tea/Coffee/Rubber
Development Account and 44AE-Transport Operators.
07
OR
Q.3 (a) When is Minimum Alternate Tax applicable? How is Minimum
Alternate Tax Calculated?
07
(b) Explain giving suitable example - tax planning & tax avoidance. 07
Q.4 (a) Explain incidence of tax for company and HUF 07
(b) Give illustration to explain Indian income & foreign income. 07
OR
Q.4 (a) Discuss Arm?s Length Price and explain in detail the methods of
computing ALP
07
(b) Describe any 14 incomes that are exempted from tax. 07
Page 2 of 2
Q.5
CASE STUDY:
Raj Ltd is manufacturer of High quality shoes and they are thinking
of computerization of Companies Ordering, inventory and billing
procedures. He estimates that the annual savings from
computerization include a reduction of 10 clerical employees with
an annual salaries of Rs 15,000 each, Rs 8000 from reduced
production delay caused by raw material inventory problems, Rs
12,000 from lost sales due to inventory stock outs and Rs 3000
associated with timely billing procedures.
The purchase price of the system is Rs 2,00,000 and installation cost
are Rs 50,000. These outlays will be depreciated on straight lines
base to a zero book salvage value which is also its market value at
the end of the fifth year. Operating of new system requires two
Computer specialists with annual salaries of Rs 40,000 per person
and maintenance cost of Rs 12,000 per year. The tax rate is 40% and
the rate of return for the project is 12% ( PV of annuity of Rs1 at
12% for 5 year is 3.605 and PV of Rs 1 at 12% at the end of the fifth
year is 0.567)
(a) Find the project cash outlay and also find the cash inflow 07
(b) Evaluate the project using net present value
07
OR
Q.5 (a) Find the Project Cash flow& NPV assuming the system can be
sold for 25,000 at the end of the fifth year
07
(b)
Find the project cash flow and NPV assuming that the book
salvage value for depreciation purpose is Rs 20,000.
07
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This post was last modified on 19 February 2020