BBA504 - TAXATION MANAGEMENT

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ASSIGNMENT

DRIVE WINETR	SPRING 2015
PROGRAM	BBA
SUBJECT CODE & NAME	BBA 504 - TAXATION MANAGEMENT
SEMESTER	v
BK ID	B1852
CREDITS	4
MARKS	60

1. Distinguish between revenue expenditure and capital expenditure. Explain the distinction between capital losses and revenue losses.

Answer : Difference Between Capital and Revenue Expenditures:

2.  Explain the deductions u/s 80.

Answer : This section has been introduced by the Finance Act 2005. Broadly speaking, this section provides deduction from total income in respect of various investments / expenditures / payments.

Remember: The limit for maximum deduction available under Sections 80C, 80CCC and 80CCD (combined together) is Rs. 1,00,000/- (Rs. one lac only).

An additional deduction upto a maximum of Rs. 20,000/- will be available from Assessment Year 2011-12 (FY 2010-11) for investment in Infrastructure Bonds.

1.       Life Insurance Premium for individuals. The policy must be in the assesse's or spouse's or any child's name. For a HUF, it may

3.  Write a note on Fringe Benefit Tax.

Answer : Fringe Benefit Tax (FBT) was introduced as part of Finance Act, 2005 as an additional income-tax and came into force from April 1, 2005. The term Fringe Benefits means ‘any consideration for employment provided by way of any privilege, service, facility or amenity provided by the employer to the employees’.

Fringe Benefit Tax is to be levied on the employer in respect of fringe benefits provided/deemed to be provided by the employer to his employees during any financial year commencing on or after 1.4.2005

Dear students get fully solved  SMU BBA Spring 2014 assignments

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