Scribd Logo
Upload

Welcome to Scribd!

  • 30 views

    CTP Assignment

    Uploaded by

    sachinrema
    This document outlines an assignment on corporate tax planning that is due on March 6th, 2017. It includes 5 questions - the first asks to calculate the gross total income for an individual (X) under different residency statuses, considering various domestic and foreign sourced incomes. The second asks to discuss 10 types of incomes exempted from tax. The third explains provisions on gratuity and set off/carry forward of business losses. The fourth discusses the taxability of agriculture income in detail. The fifth explains transactions not regarded as transfer under section 47.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    CTP Assignment

    Uploaded by

    sachinrema
    30 views1 page
    This document outlines an assignment on corporate tax planning that is due on March 6th, 2017. It includes 5 questions - the first asks to calculate the gross total income for an individual (X) under different residency statuses, considering various domestic and foreign sourced incomes. The second asks to discuss 10 types of incomes exempted from tax. The third explains provisions on gratuity and set off/carry forward of business losses. The fourth discusses the taxability of agriculture income in detail. The fifth explains transactions not regarded as transfer under section 47.

    Original Description:

    It is a assignment on Corporate Tax

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document outlines an assignment on corporate tax planning that is due on March 6th, 2017. It includes 5 questions - the first asks to calculate the gross total income for an individual (X) under different residency statuses, considering various domestic and foreign sourced incomes. The second asks to discuss 10 types of incomes exempted from tax. The third explains provisions on gratuity and set off/carry forward of business losses. The fourth discusses the taxability of agriculture income in detail. The fifth explains transactions not regarded as transfer under section 47.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    30 views1 page

    CTP Assignment

    Uploaded by

    sachinrema
    This document outlines an assignment on corporate tax planning that is due on March 6th, 2017. It includes 5 questions - the first asks to calculate the gross total income for an individual (X) under different residency statuses, considering various domestic and foreign sourced incomes. The second asks to discuss 10 types of incomes exempted from tax. The third explains provisions on gratuity and set off/carry forward of business losses. The fourth discusses the taxability of agriculture income in detail. The fifth explains transactions not regarded as transfer under section 47.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Assignment- Corporate Tax Planning

    Last Date: 6th March 2017

    Q1. X furnishes the following particulars of his income during the previous year relevant to the
    assessment year 2016-2017.
    Interest on German Development Bonds (one third is received in India) Rs. 25,000
    Income from agriculture in Bangladesh, received there but later on remitted
    to India Rs. 41,000
    Income from property in Canada received outside India Rs. 12,000
    Income earned from business in Kampla (Uganda ) which is controlled from Delhi
    (Rs. 15,000 received in India) Rs. 20,000
    Dividend pay by an Indian company but received outside India Rs. 25,000
    Past Untaxed profit brought to India Rs.18,000
    Profit on sale of a building in India received in Sri Lanka Rs. 30,000
    Pension from a former employer in India, received in Rangoon Rs. 20,000
    Find out the gross total income of X, if he is
    (i) Resident and ordinarily resident in India,
    (ii) Resident but not ordinarily resident in India,
    (iii) Non-resident in India for the assessment year 2015-2016

    Q2. Discuss at least ten incomes which are exempted from tax.

    Q3.Explain the provisions on the following:

    a) Gratuity under Payment of gratuity act 1972


    b) Set off and carry of Business losses

    Q4. Discuss in detail the provision of taxability of Agriculture Income.

    Q5. Explain the transactions not regarded as transfer u/s (47).

    You might also like