University Of Pune Question Paper
P. G. D. B. M. (Semester - IV) Examination - 2010
FINANCIAL MANAGEMENT
(SEPECIALIZATION - I : DIRECT TAXATION)
(Old 2005 Pattern)
Time : 3 Hours] [Max. Marks : 60
Instructions :
(1) Q. No. 1 is compulsory. Attempt any three of the remaining.
(2) All questions carry equal marks.
Q.1) Write short notes : (Any Three) [3x5=15]
(a) Person
(b) Previous Year
(c) Assessment Year
(d) Gross Annual Value
(e) Long Term Capital Gain
Q.2) Explain how residential status of an individual is decided as per the
provisions of Income Tax Act ? [15]
Q.3) (A) Discuss in detail the calculation of Income from House Property. [07]
(B) Calculate Income from House Property from the following
information : [08]
Gross Annual Value Rs. 31,000
Municipal Taxes paid Rs. 4,000
Repairs Rs. 100
Q.4) Explain provisions regarding Agricultural Income. [15]
Q.5) What are the provisions regarding Filing of Returns as per Income
Tax Act ? [15]
Q.6) (A) An assessee purchased a house on 1st July, 2006 and sold it
on 31st October, 2006. The cost of acquisition was Rs. 7,00,000
and the sale proceeds were Rs. 10,00,000. Compute Capital Gain.
Also mention whether this is a Long Term or Short Term Capital
Gain and why ? [08]
(B) Explain Assessment. [07]
Q.7) Discuss tax implications in the following situations : [5x3=15]
(a) Personal Expenses of Rs. 1,000 were debited to the Profit and
Loss A/c.
(b) Rent paid for the premises Rs. 8,200 was by mistake written
on the Credit Side of the Profit and Loss A/c.
(c) Loss of Rs. 45,000 on account of Embezzlement by an Employee.
(d) Furniture Costing Rs. 10,000 was purchased and debited to Profit
and Loss A/c. The profit was then calculated as Rs. 1,00,000.
The furniture was put to use for more than 200 days.
(e) Office Expenses of Rs. 3,500 and Audit Fee of Rs. 4,000 was
not debited to the Profit and Loss A/c. and the Net Profit was
Rs. 4,50,000.
P. G. D. B. M. (Semester - IV) Examination - 2010
FINANCIAL MANAGEMENT
(SEPECIALIZATION - I : DIRECT TAXATION)
(Old 2005 Pattern)
Time : 3 Hours] [Max. Marks : 60
Instructions :
(1) Q. No. 1 is compulsory. Attempt any three of the remaining.
(2) All questions carry equal marks.
Q.1) Write short notes : (Any Three) [3x5=15]
(a) Person
(b) Previous Year
(c) Assessment Year
(d) Gross Annual Value
(e) Long Term Capital Gain
Q.2) Explain how residential status of an individual is decided as per the
provisions of Income Tax Act ? [15]
Q.3) (A) Discuss in detail the calculation of Income from House Property. [07]
(B) Calculate Income from House Property from the following
information : [08]
Gross Annual Value Rs. 31,000
Municipal Taxes paid Rs. 4,000
Repairs Rs. 100
Q.4) Explain provisions regarding Agricultural Income. [15]
Q.5) What are the provisions regarding Filing of Returns as per Income
Tax Act ? [15]
Q.6) (A) An assessee purchased a house on 1st July, 2006 and sold it
on 31st October, 2006. The cost of acquisition was Rs. 7,00,000
and the sale proceeds were Rs. 10,00,000. Compute Capital Gain.
Also mention whether this is a Long Term or Short Term Capital
Gain and why ? [08]
(B) Explain Assessment. [07]
Q.7) Discuss tax implications in the following situations : [5x3=15]
(a) Personal Expenses of Rs. 1,000 were debited to the Profit and
Loss A/c.
(b) Rent paid for the premises Rs. 8,200 was by mistake written
on the Credit Side of the Profit and Loss A/c.
(c) Loss of Rs. 45,000 on account of Embezzlement by an Employee.
(d) Furniture Costing Rs. 10,000 was purchased and debited to Profit
and Loss A/c. The profit was then calculated as Rs. 1,00,000.
The furniture was put to use for more than 200 days.
(e) Office Expenses of Rs. 3,500 and Audit Fee of Rs. 4,000 was
not debited to the Profit and Loss A/c. and the Net Profit was
Rs. 4,50,000.
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