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DRIVE
SPRING 2015
PROGRAM
BBA
SEMESTER
V
SUBJECT
CODE &
NAME
BBA
504
TAXATION
MANAGEMENT
Qus:1
Distinguish between revenue expenditure and capital expenditure. Explain the
distinction between capital losses and revenue losses.
·
Explain
revenue expenditure and capital expenditure.
·
Explain
the distinction between capital losses and revenue losses.
Answer:
Explain
revenue expenditure and capital expenditure:
To distinguish revenue
expenditure from capital expenditure, the following tests can be applied:
(i)
Nature
of the assets: The amount incurred to purchase or gain
fixed assets or due to the installation of fixed assets is called capital
expenditure. while When a person incurs expenses due to purchasing of goods for
resale as well as other costs in connection with the purchase, it is
Qus:2
Explain the deductions u/s 80.
·
Explain
deductions u/s 80.
Answer:
Explain
deductions u/s 80:
Section 80C has
been added from the assessment year 2006–07 onwards. Section 80C provides
deductions in respect of specified qualifying amounts deposited by the assessee
in the previous year.Following are the main provisions of the newly inserted
Section 80C:
Qus:3
Write a note on Fringe Benefit Tax.
·
concept
·
significance
of Fringe benefit tax and
·
features
Answer:
Fringe Benefit
Tax (FBT) was introduced in the Finance Act, 2005, as an additional income-tax
and came into force on 1st April 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
Get fully solved assignment. Buy online from website
online store
or
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125/subject and rs 625/semester only.
if urgent then call us
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