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ASSIGNMENT
DRIVE WINETR SPRING 2014
PROGRAM BBA
SUBJECT CODE & NAME BBA 504 - TAXATION MANAGEMENT
SEMESTER v
BK ID B1852
CREDITS 4
MARKS 60
1. Distinguish between revenue expenditure and capital expenditure. Explain the distinction
between capital losses and revenue losses.
Answer : Difference Between Capital and Revenue Expenditures:
2. Explain the deductions u/s 80.
Answer : This section has been introduced by the Finance Act 2005. Broadly speaking, this section
provides deduction from total income in respect of various investments / expenditures / payments.
Remember: The limit for maximum deduction available under Sections 80C, 80CCC and 80CCD
(combined together) is Rs. 1,00,000/- (Rs. one lac only).
An additional deduction upto a maximum of Rs. 20,000/- will be available from Assessment Year
2011-12 (FY 2010-11) for investment in Infrastructure Bonds.
1. Life Insurance Premium for individuals. The policy must be in the assesse's or spouse's or any
child's name. For a HUF, it may
3. Write a note on Fringe Benefit Tax.
Answer : Fringe Benefit Tax (FBT) was introduced as part of Finance Act, 2005 as an additional
income-tax and came into force from April 1, 2005. The term Fringe Benefits means ‘any
consideration for employment provided by way of any privilege, service, facility or amenity provided
by the employer to the employees’.
Fringe Benefit Tax is to be levied on the employer in respect of fringe benefits provided/deemed to
be provided by the employer to his employees during any financial year commencing on or after
1.4.2005

2. Dear students get fully solved SMU BBA Spring 2014 assignments
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