Master of Business Administration- MBA Semester 3 MF0012 –Taxation Management- 4 Credits (Book ID: B1760) Assignment (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 1. Explain the concept of tax planning. What are the objectives of tax planning? 2. R owns two buildings, the depreciated value of the block on 1-4-2007 being 22.50 lacs of the said buildings which had been purchased on 30-4-1996 for Rs.18 lac is compulsorily acquired by the government on 15-5-2007 for which a sum of Rs. 50 lacs is paid as compensation on 20-3-2008.The said building was being used by the company as a tenant for about 4 years prior to the date of acquisition of the same by the company. The company purchases a new building on 10-4-2009 for Rs.14 lac for the purpose of setting up another industrial undertaking. Compute the amount of capital gains for the assessment year 2010-11. What would be the capital gains if the new building was purchased on 8-5-2008?

Hint: Short-term capital gain chargeable to tax for AY 2010-11 = 1350000

3. What is value added tax? How does it operate? Write about the purchase eligibility for input tax credit. (2 + 5+3)

4. Discuss the tax planning for amalgamation/merger and demerger of companies.

5. List and describe a few important accounting standards for tax audit. 6. Discuss the exemptions and rebates from service tax.

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