Master of Business Administration- MBA Semester 3 MF0012 –Taxation Management- 4 Credits (Book ID: B1210) Assignment Set- 1 (60 Marks

Note: Answer all questions (with 300 to 400 words each) must be written within 6-8 pages. Each Question carries 10 marks 6 X 10=60 Q1. Tax planning may be effective in every area of business management. Discuss some of the important areas where tax planning may be attempted. When minors are not allowed to be employed under the Constitution of India, can a minor still have income? If yes then how? Analyse the exemption from income-tax available in the case of a minor child.



Define the merits and de-merits of sole-proprietorship. What is the other income which is included in individual’s income to calculate their tax liability? Define the partnership form of organisation. What are the tax provisions for assessment of firms?



Enumerate the tax implications on the income received from venture capital investment.


Compute the net wealth and wealth tax liability of R Ltd. as on 31-3-2011. The company is engaged in jewellery business-exports and domestic sales: Rs Factory buildings Bank balance Unaccounted cash balance Silver ware Gold ornaments Motor cars Guest house in London 43,00,000 12,20,000 6,50,000 94,00,000 96,00,000 15,00,000 8,00,000

The company has taken a loan of Rs. 6,00,000 by mortgaging guest house and built the factory premises.

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