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DFIN303 TAXATION MANAGEMENT

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DFIN303 TAXATION MANAGEMENT
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Description

Description

SESSION MARCH 2023
PROGRAM MASTER of business administration (MBA)
SEMESTER III
course CODE & NAME DFIN303 – TAXATION MANAGEMENT
CREDITS 4
nUMBER OF ASSIGNMENTS & Marks 02

30 Marks each

 

Assignment Set – 1

 

Q1 Explain the residential status as defined under section 6 of the Income tax Act.  Provide the conditions applicable for Individuals, and Companies           

 

Q2 Explain the key difference between Deductions and Exemptions. Write a brief note about at least 3 deductions applicable for companies under chapter VI-A and provide conditions for claiming the deductions.            

 

 

Q3 Define capital asset as per section 2(14) of the Income tax Act and the categories. What are the exclusions from the term capital asset? Define the term “Transfer” and the list down the assets that doesn’t construed as a transfer?    

 

 

Assignment Set – 2

 

 

Q4 Explain the difference between Tax planning, Tax Avoidance and Tax Evasion? What are the objectives of Tax planning? Also, provide an example for tax planning?

Ans 4.

Difference between Tax planning, Tax Avoidance and Tax Evasion

TAX PLANNING TAX AVOIDANCE

 

TAX  EVASION
Legal Legal Illegal
Ethical Unethical Unethical
No intention to defeat legal spirit Intention to defeat  legal spirit Intention to defeat legal spirit

 

 Q5 Explain the income chargeable to tax under the head “profits and gains from business or profession”?  What are the expenses allowed and disallowed for tax purposes with an example wherever necessary.        

 

Q6 What is GST and explain the advantages of GST? Explain the concept of input tax credit and the procedures involved in claiming the input tax credit.  Further, list down the expenses on which input tax credit cannot be claimed?

 

Additional information

Assignment Type

General, Unique

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