M.Com. DEGREE EXAMINATION, NOVEMBER/DECEMBER 2017.
Third Semester
Paper 305 CORPORATE TAX PLANNING AND MANAGEMENT
(Common for M.Com. (Professional and General))
2 30135-A
Time 3 Hours Max. Marks 70
SECTION — A
Answer any FIVE questions. 4 20 Marks)
1. Direct Tax.
2. Previous Year.
3. Business.
4. Special provisions related to insurance business.
5. Domestic company.
6. Tax planning.
7. Bonus shares.
8. Merger.
SECTION — B
Answer all FIVE questions. 10 50 Marks)
9. What do you mean by corporate income tax? State the significance of
corporate taxation.
Or
Briefly explain the exempted incomes and tax free incomes with special
reference to corporate sector.
10. How will you compute income from business or profession?
Or
Enumerate the various deductions available to certain industrial
undertakings under section 80-IB of the Income Tax Act, 1961.

11. Explain how the scope of tax liability on total income and, the rates of
the tax applicable to a company are determined.
Or
What do you understand by "Book Profit" in the context of Minimum
Alternate Tax? Explain.
12. Distinguish between tax avoidance and tax evasion. Enumerate the general
principles regarding tax avoidance.
Or
What are the tax considerations one has to keep in mind while designing a
dividend policy? Explain.
13. What do you mean by amalgamation? What are the conditions to be satisfied
for a merger to qualify as an amalgamation for the purpose of Income Tax
Act?
Or
Briefly explain about the EPCG (Export Promotion Capital Goods) scheme
and its coverage.