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ASSIGNMENT
DRIVE SUMMER 2016
PROGRAM MBADS – (SEM 3/SEM 5) / MBAN2 / MBAFLEX – (SEM 3) /
PGDFMN – (SEM 1)
SUBJECT CODE & NAME MF0012 - TAXATION MANAGEMENT
SEMESTER 3
BK ID B1760
CREDITS 4
MARKS 60
Note: Answer all questions. Kindly note that answers for 10 marks questions should be
approximately of 400 words. Each question is followed by evaluation scheme.
Q1.Explain the objectives of tax planning. Discuss the factors to be considered in tax planning.
(Objectives of tax planning 5 marks; Factors in tax planning 5 marks) 10 marks
Answer: Objectives of tax planning :
A. Objective of raising revenue:
The basic and primary objective of taxation is raising revenue. Enormous amount needed by
moderngovernmentsforNationaldefense,creationof infrastructure andsocial upliftment schemes
make regular and systematic resource mobilization compulsory.
Q2.Explain the categories in Capital assets. Mr. C acquired a plot of land on 15th June, 1993 for
10,00,000 and sold it on 5th January, 2010 for 41,00,000. The expenses of transfer were
1,00,000.Mr. C made the following investments on 4th February, 2010 from the proceeds of the
plot.
a) Bonds of Rural Electrification Corporation redeemable after a period of three years, 12,00,000.
b) Deposits under Capital Gain Scheme for purchase of a residential house 8,00,000 (he does not
own any house).Compute the capital gain chargeable to tax for the AY2010-11.
(Explanation of categories of capital assets 4 marks ; Calculation of indexed cost of acquisition 2
marks; Calculation of long term capital gain 2 marks; calculation of taxable long term capital gain 2
marks) 10marks
Answer : Categories of capital assets :

2. 1. Collectibles :
Long-terminvestmentsincollectiblesare taxedata flat28%. Short-terminvestments in collectibles
are taxed as short-term capital gains at your ordinary income tax rates. Collectibles include the
following items:
 stamps,
Q3.Explain major considerationsin capital structure planning.Write about the dividend policy and
factors affecting dividend decisions.
(Explanation of factors of capital structure planning 6 marks; Explanation of dividend policy 2
marks; factors affecting dividend decisions 2 marks) 10marks
Answer : Factors of capital structure planning :
1. Trading on Equity:
The word “equity” denotes the ownership of the company. Trading on equity means taking
advantage of equity share capital to borrowed funds on reasonable basis. It refers to additional
profits that equity shareholders earn because of issuance of debentures and preference shares.
2. Degree of control:
Q4.X Ltd. has UnitC which is not functioningsatisfactorily.The followingare the detailsof its fixed
assets:
Asset Date of acquisition Book value
(Rs. lakh )
Land
Goodwill (raised in books
on 31st March, 2005)
Machinery
Plant
10th February, 2003
5th April, 1999
12th April, 2004
30
10
40
20
The written down value (WDV) is Rs. 25 lakh for the machinery, and Rs.15 lakh for the plant. The
liabilities on this Unit on 31st March, 2011 are Rs.35 lakh.
The following are two options as on 31st March, 2011:
Option 1: Slump sale to Y Ltd for a consideration of 85 lakh.
Option 2: Individual sale of assets as follows: Land Rs.48 lakh, goodwill Rs.20 lakh, machinery
Rs.32 lakh, Plant Rs.17 lakh.
The other units derive taxable income and there is no carry forward of loss or depreciation for the
company as a whole. Unit C was started on 1st January, 2005. Which option would you choose,
and why?
(Computation of capital gain for both the options 4 marks; Computation of tax liability for both
the options 4 marks ; Conclusion 2 marks) 10marks

3. Answer : Total price of the unit is :
Option 1 :
The net wealthof the undertaking(aggregatevalue of the total assets of the undertaking minus the
value of the
liabilities as appearing in books of accounts) shall be deemed to be the cost of acquisition and the
cost of improvement for the
Q5.Explain the Service Tax Law in India and concept of negative list. Write about the exemptions
and rebates in Service Tax Law.
(Explanation of Service Tax Law in India 5 marks; explanation of concept of negative list 2marks;
Explanation of exemptions and rebates in Service Tax Law 3 marks) 10marks
Answer : Service tax laws in India :
Generally, the liability to pay service tax has been placed on the ‘service provider’. However, in
respectof the taxable servicesnotifiedunderSec.68(2) of the Finance Act,1994, the service tax shall
be paid by such person and in such manner as may be prescribed at the rate specified in Sec.66 of
the Act and all the provisionsof Chapter-V shallapplytosuch person as if he is the person liable for
paying the service tax.
The following services have been notified under Sec.68(2) of Finance Act,1994:
the services,-
(i) in relation to telecommunication service
Q6.What do you understand by customs duty? Explain the taxable events for imported,
warehoused and exported goods. List down the types of duties in customs. An importer imports
goods for subsequent sale in India at $10,000 on assessable value basis. Relevant exchange rate
and rate of duty are as follows:
Particulars Date Exchange Rate
Declared by
CBE&C
Rate of Basic
Customs Duty
Date of
submission of
bill of entry
25th February,
2010
Rs.45/$ 8%
Date of entry
inwards
granted to the
vessel
5th March,
2010
Rs.49/$ 10%
Calculate assessable value and customs duty.
(Meaning and explanation of customs duty 2 marks; Explanation of taxable events for imported,
warehoused and exported goods 3 marks; Listing of duties in customs 2 marks; Calculation of
assessable value and customs duty 3marks) 10marks

4. Answer : Custom duty :
A customsdutyis a tariff or tax on the importation (usually) or exportation (unusually) of goods. In
the Kingdom of England, customs duties were typically part of the customary revenue of the king,
and therefore didnotneedparliamentaryconsenttobe levied,unlike exciseduty, land tax, or other
formsof taxes.Commercial goodsnotyetclearedthroughcustomsare heldinacustoms area, often
called a bonded store, until processed. All
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
help.mbaassignments@gmail.com
or
call us at : 08263069601