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    This document outlines the structure and content of a corporate tax law exam. It is divided into 4 sections: Section A covers basic tax definitions and concepts like residential status. Section B covers income from business and deductions. Section C covers tax planning for new businesses. Section D covers capital gains taxation. The exam will consist of 8 total questions with 5 to be answered. Candidates must select 1 question from each section and can choose the 5th freely.

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    CTL & P

    Uploaded by

    Karan Singh
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    This document outlines the structure and content of a corporate tax law exam. It is divided into 4 sections: Section A covers basic tax definitions and concepts like residential status. Section B covers income from business and deductions. Section C covers tax planning for new businesses. Section D covers capital gains taxation. The exam will consist of 8 total questions with 5 to be answered. Candidates must select 1 question from each section and can choose the 5th freely.

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    This document outlines the structure and content of a corporate tax law exam. It is divided into 4 sections: Section A covers basic tax definitions and concepts like residential status. Section B covers income from business and deductions. Section C covers tax planning for new businesses. Section D covers capital gains taxation. The exam will consist of 8 total questions with 5 to be answered. Candidates must select 1 question from each section and can choose the 5th freely.

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    © All Rights Reserved
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    15 views2 pages

    CTL & P

    Uploaded by

    Karan Singh
    This document outlines the structure and content of a corporate tax law exam. It is divided into 4 sections: Section A covers basic tax definitions and concepts like residential status. Section B covers income from business and deductions. Section C covers tax planning for new businesses. Section D covers capital gains taxation. The exam will consist of 8 total questions with 5 to be answered. Candidates must select 1 question from each section and can choose the 5th freely.

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    OLMBA – 450T:

    Corporate Tax Law and Planning


    Time: 03 Hours
    Max. Marks: 100
    Marks Internal Assessment: 30 Marks
    End Term: 70 Marks
    Instructions for the Paper-Setter/examiner:
    1. Question paper shall consist of Four sections.
    2. Paper setter shall set Eight questions in all by selecting Two questions of equal marks from
    each section. However, a question may have sub-parts (not exceeding four subparts) and
    appropriate allocation of marks should be done for each sub-part.
    3. Candidates shall attempt Five questions in all, by at least selecting One question from
    each section and the 5 th question may be attempted from any of the Four sections.
    4. The question paper should be strictly according to the instructions mentioned above. In
    no case a question should be asked outside the syllabus.
    SECTION A
    Introduction to Income Tax Act, 1961: definitions of Person, Assesses, Assessment Year,
    Previous Year, capital and revenue incomes. Residential Status: determination of residential
    status of a Company, scope of total income on the basis of residential status. Tax Planning,
    Tax Avoidance and Tax Evasion: concept and distinction, use of colourable devices by
    companies, measures to check tax avoidance and tax evasion. Minimum Alternate Tax.
    SECTION B
    Income under the Head Business and Profession: deductions expressly allowed and
    expenses disallowed, tax audit, maintenance of books of accounts, exemptions available to
    company assesses, depreciation - concept and computation, assets eligible for depreciation,
    block of assets, indexation, tax on slump sale, corporatisation of an existing non-corporate
    business. Special Economic Zones – concept, tax incentives to newly established units.
    SECTION C
    Tax planning with reference to setting up of a new business: location of business, nature of
    business, form of organisation. Tax planning and financial management decisions - capital
    structure, dividend distribution and bonus shares. Deduction of Tax at Source: Concept of
    TCS & TDS, rates applicable, penalties, concept of advance payment & self- assessment of
    tax.
    SECTION D
    Income Under the Head Capital Gains: definition, types of capital assets, transactions not
    regarded as transfer, computation & tax planning of capital gains, exemptions in respect of
    capital gains. Double Taxation – Concept, avoidance of double taxation, Double taxation
    relief provisions in India
    Suggested Readings:
    1. Ahuja Girish, “Systematic Approach to Income Tax”, Bharat Law House, New Delhi.
    2. Mehrotra H.C., “Income Tax Law & Practice”, Sahitya Bhawan Publications, Agra.
    3. Singhania K. Vinod, “Direct Tax Theory & Practice”, Taxman Publications (P) Ltd.
    4. Website: www.incometaxindia.gov.in

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