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504 assignment spring 2016

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DRIVE
PROGRAM
SEMESTER
SUBJECT CODE &
NAME
BK ID
CREDITS
MARKS
ASSIGNMENT
SPRING 2016
BBA
V
BBA 504 &
TAXATION MANAGEMENT
B1852
2
30
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.
Q.No
1
A
2
Questions
Write notes on :
a) Assessee in default
b) Total Income and Gross Total Income
c) Rules for determining residential status of an HUF
a) Assessee in default
b) Total Income and Gross Total Income
c) Rules for determining residential status of an HUF
3
3
4
10
Ms. Trista, a resident individual, owns a house property situated in Bangalore. The particulars
of the house are as under:
Rs.
Municipal Value
Fair Rent
Standard Rent
Actual Rent (per month)
Period of Vacancy
Municipal Taxes for the year
Municipal tax paid during the year
1,20,000
1,60,000
1,40,000
12,000
NIL
20 % of Municipal
Value
24,000
Compute the income of Ms. Trista under the head : Income from house property.
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Discuss the advantages of VAT over Sales tax.
A
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3
A
Compute the income of Ms. Trista under the head : Income from
house property in the above problem.
Discuss the advantages of VAT over Sales tax.
.
5
10
5
“Section 48 of the Income-tax Act, 1961 discusses the methods of computation of short term
and long term capital gains”. Enumerate with examples.
Discuss the methods of computation of Short term and Long term
Capital Gains under Section 48 of the Income-tax Act, 1961 with
examples.
10
10
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