#1
September 6th, 2016, 03:29 PM
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RTMNU University Question Papers
Can you provide me previous year question paper of 2nd Sem Master of Business Administration exam (New Course) (Group - B) Financial Management Paper – I (Corporate Taxation) of RTMNU or Rashtrasant Tukadoji Maharaj Nagpur University?
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#2
September 6th, 2016, 03:39 PM
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Re: RTMNU University Question Papers
The previous year question paper of 2nd Sem Master of Business Administration exam (New Course) (Group - B) Financial Management Paper – I (Corporate Taxation) of RTMNU or Rashtrasant Tukadoji Maharaj Nagpur University is as follows: SECTION A 1. What are the different categories of Assessee divided with regard to residence : Explain the incidence of residence on tax liability. 2. The Profit and Loss Account of XYZ Ltd, for the year ended 31'1 March, 2008 shows a net profit of Rs. 15,00,000. The credits and debits in the profit and Loss account include the following items among others :* Credits : Rs. (i) Dividend from an Indian company (Gross) 1,00,000 (ii) Net Rent from House property (let out to outsiders) after debiting repairs Rs. 1000 and municipal . tax Rs. 3,000 Debits : (i) Provision for Taxation _ 20,00,000 (ii) Salary-to sales manager, @Rs. 8500 per month, cost of perquisites allowed to him Rs. 14,000 for.the year. 1,16,000 (iii) Cost of maintenance of a liaison office in New York for promoting exports. 60,0()0 (iv) Legal expenses for contesting a suit for eviction from a premises used as a show room 3,000 (v) Expenses for obtaining a loan from a financial institution for acquiring new maehin--ry. 20,000 (vi) Amount embezzled b,• the cashier of the companv, which is irrecoverable 15,000 The company has distribution dividend Rs. 9,00,000 on 16.10.2007 Compute the income from Business of the company for the assessment year 2008-09. 3. Mr. P. Bros. Chennai running an industrial undertaken were ordered by city corporation, Chennai to shift their unit from urban area of chennai. They shifted their concern during 2007-08and in the process sold some of the assets whose details are given below. Assets Acquired in P&M 1989 Rs. Land June 1983 Rs. Building 1989 Rs. Sale proceeds 10,00,000 8,00,000 12,00,000 W. D. V. on 1. 4. 2007 [cost u/s. 50(2)] 4,40,000 - 7,32,500 Cost of acquisition 6,00,000 1,40,000 10,00,000 Amount invested during Dec. 2006 due to shifting 8<00,000 2,00,000 5,00,000 Compute the taxable capital gain for the assessment year 2008-09 (C • 1• 1• for 1983-84 is 116; 198'8-89 is 161 ; 2007-08 is 551). 4. What are the provisions governing the set-off of losses? 5. While commencing a new business what factors should be kept in mind for taking decision regarding the form of organisation so that he gets the maximum tax facilities and concessions? SECTION B 6. Explain constitutional provisions authorising the levy and collection of duties of Central Excise, Customs and Central Sales Tax. 7. What are the steps involved in classifying products in Central Excise % Explain the provisions regarding Recovery and Refund of duties. 8. State the history objects and main features of Central Sales Tax Act 1956. 9. What is Value Added Tax : Explain in detail Value Added Tax on sale or purchase of goods under State Sales 'Fax Act 1959. 10. What do you mean by `Custom duty’: Write nature and types of custom duty in India. |