M.com 3rd Sem Direct Taxes and Planning Imp Questions for Jan 2020 Exam

Tax planning is the arrangement of financial activities in such a way that maximum tax benefits are enjoyed by making use of all beneficial provisions in the tax laws. It entitles the assessee to avail certain exemptions, deductions, rebates, and reliefs, to minimize tax liability.

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  • Short Term Tax Planning. It means the planning thought of and executed at the end of the income year to reduce taxable income legally.
  • Long Term Tax Planning. …
  • Permissive Tax Planning. …
  • Purposive Tax Planning.

2 Marks questions

1. What do you Mean by colorable devices?
2. State the treatment of expenditure incurred on the promotion of family planning among employees?
3. Differentiate Between “Tax Planning” and ‘tax Management”
4.Define Net Wealth u/s 2(m)
5. Define Domestics Company.
6. Distinguish Between tax  Planning and Tax Evasion?
7. What is advance tax Ruling?
8.Different Between Tax Planning and Tax Evasion.


5 Marks questions

1. Briefly Explain the exempted ASSETS UNDER SECTION 5 OF THE WEALTH Tax Axt, 1957.
2.Enumerate the tax holidays entitled to a business undertaking established in northeastern states u/s 80 IE
3. Write short notes on the structure or basic framework of direct taxes.
4. Write a short note on sec 1941 and 194 A(TDS on Interest other than securities) of income tax act in 1961.


Bangalore University(BCU-BNU) M.com 3rd Sem Study Material 2020