Sunday, March 17, 2013

Dibrugarh University - Principle of Business Management' 2013 (General)


1.(a)  Describe the nature of business management.
Or
    (b) Describe the contribution of Henry Fayol to the development of management through.

2.(a) What do you mean by planning? Explain the significance of planning in a business.
Or
    (b) Describe the various steps involved in decision-making process.

3.(a) Explain the concept of organizing. Distinguish between centralization and decentralization.
Or
    (b) Define span of management. Discuss the factors determining the span of management.

4. (a) “Sound management depends on good leadership”. Enumerate the significance of leadership in management in the light of the above statement.
Or
    (b) Asses the role of financial and non-financial incentives in motivating employees of an organization.

5. (a)Explain the steps in controlling process. Describe the essentials of an effective control system.
Or
    (b) Write an essay on ‘social responsibility of management’.


Dibrugarh University - Principle of Business Management' 2011 (General)


Q.N.1. Describe in brief the evolution of management thought, discuss the importance of management.                                                                                                                                                                
OR
Discuss the classical theories of management. Enlist managerial  roles as forwarded by Henry Mintzberg.                                                                                                  10+4=14

Q.N.2. What are the basic steps to be taken into account for formulating a strategic plan? Explain. Write the advantages of strategic planning in modern business.
OR
“basically a manager takes three types of decision in three different situations.” What are the three decision and three situations mentioned above? Discuss.

Q.N.3. Evaluate the importance of informal organisation in management of a big business .write the difference between centralization and decentalisation.
OR
Give the concept of modern theory of organisation. Mention the limitation of line organisation.

Q.N.4. What is motivation? Enumerate the assumptions of McGregor theory x and y about motivation.
OR
Define leadership. Discuss likert’ four management system about leadership.

Q.N.5. Describe the essentials of effective control system. Justify the relationship between planning and controlling.
OR
Write short notes on :
a)      Social responsibility of business
b)      Management of change

Tuesday, March 12, 2013

Dibrugarh University - Principle of Business Management' 2012 (General)

1.   (a) What is the different types of organisation? How are organizations classified on the basis of functions performed.
Or
(b) Compare and contrast the classical, neoclassical and modern approach towards organization.

2.   (a) Define the term “span of management”. How would you determine the optimum spane in a given situation?
Or
(b) Write short notes on :
(i) Advantages of decentralization.
(ii) Guidelines for effective delegation.

3. (a) Bring out the role of group in an organization. Substantiate the claims that group task influences group performance and satisfaction.
Or
(b) Define Perception. Explain the steps in the perceptual process.

4.   (a) What is the essence of Vrerm’s Expectancy model of motivation ? What are it merits and limitations?
Or
(b) Point out in brief some behavioural implications of control. Suggest some suitable measures to minimize behavioural dysfunctions of control.

5.   (a) What is effectiveness ? What are the different approaches which have been developed to study organizational effectiveness.
Or
(b) “Resistance to change is a normal part of process of change.” Discuss what technique would you use in overcoming such resistance.

Dibrugarh University - Company Law' 2010 (Old course)


 1.       (a)  What is Memorandum   of Association?  What are its contents? Distinguish   between Memorandum and articles   of Association.
Or

(b)  Discuss   about    the different kinds   of companies.

2.    (a) Explain the rights and liabilities shareholders  of a company.
Or
(b) What is Debenture? Distinguish between a  share and a Debenture.

3.   (a)   Explain,  in detail, the procedure for registration of charges. State the purpose of charges.
Or
(b) Explain the consequences  of non registration   of charges.

4.    (a) Discuss    about   the various    annual   returns    of companies.
Or
(b)  When in what manner and by whom an Annual General  Meeting   be called?

 5.   (a)  State  the  provisions of  the  companies  Act  regarding  the constitution  of  the  Board    of   Directors. How is casual   vacancy   of Director filled?
Or
(b)  What is the   manner   of appointing a Managing Directors?  Who cannot   be   appointed as   Managing Director?

Dibrugarh University - Company Law' 2012 (Old Course)


1.       (a) Discuss briefly various constituents for company law administration in india.  14
Or
(b) What is Article of Association? What are its important contents? How can the articles be altered?  3+6+5=14

2.       (a) What do you mean by a Share? Explain various kinds of share that may be issued by a company.  4+10=14
Or
(b) Write short note on the following:                            7x2=14
(i) Issue of share at a premium
(ii) Issue of share at a discount

3.       (a) What is charge? Explain the purpose of registering charges. What is fixed charge?              4+6+4=14
Or
(b) What is floating charge? Explain the procedure for registration of charges.            4+10=14

4.       (a) What is a Register of members? What are its objects? In what circumstances, alteration can be made in it without the sanction of court?    3+4+7=14
Or
(b) What is an “Annual General meeting” of a company? Outline the business usually transacted at this meeting. State the statutory rules governing the holding of annual general meeting.  3+5+6=14

5.       (a) How are directors appointed in a company? What restrictions have been imposed by the companies act in respect of appointment of directors?  4+10=14
Or
(b) Define a “Managing Director” of a company. Discuss the statutory restrictions on managing director’s appointment and remuneration.  4+10=14

Wednesday, March 06, 2013

Dibrugarh University - Direct Tax Law' 2011 (Solved)


Depreciation:
Depreciation as per law of lexicon is defined as positive decline in the real value of a tangible asset because of consumption, wear and tear or obsolescence. The concept of depreciation is widely used for the purpose of writing off the cost of an asset against profit over an extended period (its depreciable life), irrespective of the real value of the asset. Depreciation is charged against income or the profit and loss account, and there are different methods of calculating it like straight line method or written down value method. The Income-tax Act save and except for undertaking engaged in generation and/or distribution of power the method of computing the depreciation is WDV method.

Conditions for Claiming Deduction under section 32(1)

(i)   Depreciation is allowed on:
                (a)  buildings, machinery, plant and furniture; being tangible assets; and
                (b)  know how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature being intangible assets acquired on or after 1-4-1998.
The expression building does not include land because the land does not depreciate.  As per section 43(3), Plant includes ships, vehicles, books, scientific apparatus and surgical equipments used for the purpose of the business or profession but does not include tea bushes, livestocks, buildings or furniture and fittings.


(iia)       Allowed to the owner of the asset. Fractional ownership will also be taken in to account for the purpose of claiming depreciation.

(iib)       It is allowed even if the asset is wholly or partly owned by the assessee.

(iii) Allowed only when the asset is used for the purpose of business or profession.

(iv) Allowed on the basis of the actual cost to the owner. Actual cost means the actual cost of the assets to the assessee, reduced by that portion of the cost thereof, if any, as has been met directly or indirectly by any other person or authority. The above definition contains 3 elements:

(a)  It should be the actual cost of the asset
(b)  It should be the actual cost of the asset to the assessee
(c)   It should be exclusive of any portion of the cost which has been met directly or indirectly by any other person or authority.

(v)  Allowed on the system of block of assets; but in case of electricity companies it is allowed on each and every asset separately. .  "Block of assets" means a group of assets falling within a class of asset. Assets eligible for depreciation have been classified into four classes i.e.
(a)  building;
(b)  plant and machinery;
(c)   furniture;
(d)  intangible assets of the type discussed above, acquired on or after 1-4-1998.

(vi) Allowed on the basis of written down value method. However, in the case of assets of an undertaking engaged in generation or generation and distribution of power, depreciation may be claimed on the basis of straight line method. The written down value of a block of asset shall be computed in the following steps:
Step I    determine the written down value of the entire block at the beginning of the previous year which will be written down value of that block of assets in the immediately preceding previous year as reduced by the depreciation actually allowed in respect of that block of assets in relation to the said preceding previous year;
Step II   add the actual cost of any asset falling within the block, acquired during the previous year;
Step III  deduct the money payable, in respect of the asset of the same block, which is sold or discarded or demolished or destroyed during the previous year together with the amount of scrap value, if any;
Step IV the resultant figure will be the written down value of the block at the end of the year for the purpose of charging current year depreciation.

Meaning of the word "Money payable": As per Explanation to section 41, "money payable" in respect of any building, machinery, plant and furniture includes:
(a)  any insurance, salvage or compensation money payable in respect thereof;
(b)  where the building, machinery, plant or furniture is sold, the price for which it is sold.

(vii) Depreciation is Computed on the written down value of the asset as on the last day of the previous year at the rate prescribed for full year. But Depreciation will be restricted to 50% of the normal depreciation, if the following conditions are satisfied:
(a)  The asset is acquired during the previous year; and
(b)  It is put to use during the previous year; and
(c)   It has been used for a period of less than 180 days during the previous year.

Dibrugarh University - Direct Tax Law' 2011 (Solved)


Residential Accomodation Provided by employer:

For govt. employee: License fees fixed by government + 10% of cost of furniture or hire charges – amount recovered from employee.

For non. Government employee:
Population
Owned by employer
Hired by employer
If population is < 10 lakhs
If population is >10 lakhs but < 25 lakhs
If population is> 25 lakhs
7.5% of salary
10% of salary
15% of salary
Actual hire charges or 15% of salary whichever is less.
If furnished
Add 10% of cost or hire charges
Add 10% of cost or hire charges
If concessional house
Deduct amount recovered from employee
Deduct amount recovered from employee
Hotel accomodation (more than 15 days)
24% of salary or actual expenses whichever is lower
24% of salary or actual expenses whichever is lower
Meaning of salary
Basic + DP + DA which enters + fee + commision of all types + statutory bonus + all fully taxable allowance + salary in lieu of leave for current year but does not include arrears advance perquisites, provident fund excess, gratuitous bonus.

Capital Receipts
A receipt in lieu of source of income is a capital receipt. For e.g., Compensation for the loss of employment is a capital receipt. Capital receipt is generally referable to fixed capital. For e.g., Sale price on the sale of assets, which assessee uses as a fixed asset in his business is a capital receipt. Capital receipts are never taxable. That‟s why amount received from insurance company at the time of maturity is not taxed under Section 10(10D). Similarly loan taken is also not taxed. However, some of the capital receipts are taxable since they have been specifically provided in the definition of Income such as tax on Capital gains on sale of Capital asset. 

Friday, March 01, 2013

Dibrugarh university - Direct tax law 2010 (Solved)


Computation of total income of Mr. R for the assessment year 2009 - 2010
Particulars
Resident and Ordinarily Resident
Not ordinarily resident
Non-resident in BHARAT
a.      Rent from a property in Delhi received in USA
b.      Income from a business in USA controlled from Delhi
c.       Income from a business in Bangalore controlled from USA
d.      Rent from property in USA received there but subsequently remitted to BHARAT
e.      Interest on deposits from an BHARATIYA company received in USA
f.       Profits for the year 2007-08 of a business in USA remitted to BHARAT during the previous year 2008 (not taxed earlier)
g.      Gifts received from his parents
80000
120000
180000
60000
20000

Exempted
Exempted
80000
120000
180000
Nil
20000

Exempted
Exempted
80000
Nil
180000
Nil
20000

Exempted
Exempted
Total income



Note: a) Income remitted to BHARAT is not an income received in BHARAT. b) Gifts from relative upto Rs. 50000 is exempted.

Dibrugarh university - Direct tax Law 2012 (Solved)


Computation of total income of Mr. X for the assessment year 2012 - 2013
Particulars
Resident and Ordinarily Resident
Not ordinarily resident
Non-resident in BHARAT
a.      Salary income received in BHARAT for services rendered in hong kong 
b.      Income from profession in BHARAT but received in germany
(Since it is controlled in BHARAT)
c.       Property income in uganda (Out of which 240000 was remitted to BHARAT)
d.      Profit earned form a business in bangalore
e.      Agricultural income in kenya
f.       Profits from a business carried on in nepal but controlled from BHARAT
390000
360000

500000
150000
160000
230000
390000
360000

Nil
150000
Nil
230000
390000
Nil

Nil
150000
Nil
Nil
Total income
1790000
1030000
540000
Note: a) Income remitted to BHARAT is not an income received in BHARAT. b) Agriculture income in kenya is fully taxable in case of ordinarily resident in BHARAT9

Dibrugarh University - Direct tax law 2011 (Solved)


Determination of residential status for the assessment year 2010 - 2011 
i)        Mr. A Stayed in BHARAT for 18 days during previous year 2009 – 2010. As he did not stay in BHARAT during that year for required number of days, so his residential status during the previous year 2009-10 shall be non-resident.

ii)       Mr. P stayed in BHARAT:
2006 – 2007 = stayed in BHARAT for 344 days
2007 – 2008 = Nil
2008 – 2009 = Nil
2009 – 2010 = 10th september to 31st march 2010 = 204 days

During the previous year, 2009 – 10, Mr. P stayed in BHARAT for 204 days. Hence he is resident u/s 6(1)(a) and he is ordinary resident u/s 6(6) as he was resident for more than 2 years out of 10 previous years preceding the relevant previous year and he did stay in BHARAT for more than 730 days out of 7 previous years precedint the relevant previous year.

iii)     During the previous year 2009 – 2010, Mr. S stayed in BHARAT for 45 days only. He is non – resident during the previous year as he does not fulfil any of the two tests of section 6(1).

iv)     During the previous year 2009 – 10, Mr. K stayed in BHARAT for 168 days (30+31+30+31+31+15) days only. He is non – resident during the previous year as he does not fulfil any of the two tests of section 6(1). Condition of 60 days is not applicable as he leaves BHARAT for a job.

Dibrugarh University - Income tax '2012


1. (a) Define the term “assessee” and “person” under the income tax act. What is regarded as income under the income tax act?
Or
(b) “The incidence of tax depends upon the residential status of an assesse.” Discuss. Write four distinctions between avoidance of tax and tax evasion.

2. (a) Following are the particulars of salary of Mr. Borkakoty, an employee of ONGCL of Ahmedabad (Population exceeding 25 lakhs):
a)      Basic salary 60000 p.m.
b)      DA 10000 p.m. (50% forms part of salary)
c)       Transport allowance 4000 p.m.
d)      Bonus 20000
e)      Commission 80000 on turnover
f)       Telephone bill of his residence paid by employer 20000
g)      Amount paid by employee for free supply of gas and elecricity at residence 36000
h)      He got a loan of 1000000 from his employer at a nominal rate of interest of 3.25% for the construction of his house. SBI lending rate as on 1-4-2010 at 8%.
i)        He is paid house rent allowance of 10000 p.m. till 31st july, 2010 and thereafter he is given a rent-free house got by his company on a monthly rent of 20000. Cost of furniture 100000. Before shifting to rent free house he was paying a rent of 8000 p.m.
j)        Leave travel concession 40000

Dibrugarh University - Direct tax Law' 2012


1. Write short notes on:
(a) Method of accounting
(b) Income tax authorities
(c) Capital expenditure
(d) Charge of income tax

Or

“Income tax is charged on the income of the previous year.” Do you fully agree with this statement? If not, what are the exceptions?

2. During the financial year 2010 – 2011, Mr. X had the following incomes: Solution Available Here
a.       Salary income received in india for services rendered in hong kong  390000
b.      Income from profession in india but received in germany 360000
c.       Property income in uganda (Out of which 240000 was remitted to india) 500000
d.      Profit earned form a business in bangalore 150000
e.      Agricultural income in kenya 160000
f.        Profits from a business carried on in nepal but controlled from india 230000

Compute the income of Mr. X for the assessment year 2011 – 2012, if he is –
a)      Resident and ordinarily resident
b)      Resident but not ordinarily indian resident
c)       Non – resident in india

Or

State briefly the provisions of section 10 of the income tax Act, 1961 with regard to incomes which are exempted from tax.

3. Explain the provisions of the income – tax Act, 1961 with regard to the following:
(a) Payment of unrecognised provident fund
(b) Gratuity

Or

Mr. X is an manager of a textile company at jaipur since 1986. He submits the following particularsof his income for the financial year 2010 – 2011:
(i)      Basic salary 240000per
(ii)    Dearness allowance  5000 p.m. (200 p.m. enters into retirement benefit)
(iii)   Education allowance for two children @ 150 p.m. per child
(iv)  Commission on sales @1% of turnover of 1000000
(v)    Travelling allowance 30000. The entire amount was spent by him for official purpose
(vi)  He was given cloth worth 1000 by his employer free of cost
(vii) He resides in the flat of the company at jaipur (26 lacs population)
(viii)           A cook and a watchman have been provided by the company at the bunglow who are paid @ 400 each p.m.
(ix)  He has been provided with a motor car of 1.8 ltrs engine capacity for his official and personal use. All expenses are borne by employer of the car.
(x)    Emplyer’s contriution to RPF is 40000 and interest credited to RPF @ 13% amounted to 16250.
(xi)  His own contribution to RPF 40000
(xii) Rent of house recovered from his salary 1500 p.m.
Compute the income from salary for the assessment year 2011 – 2012.

4. Discuss in detail the general principles governing determination of business income.

Or

Mr. R has two house properties situated in Delhi. Property A is self-occupied for the first 6 months from 1 – 4 – 2010 to 30 – 9 – 2010 and w.e.f 1-10-2010 it was let out for 10000 p.m. Property B is let out w.e.f.1-4-2010 at a rent of 12000 p.m. and w.e.f. 1-10-2010 it was self occupied as R shifted his residence from property A to B. The other details of the above two house properties are as under:

Property A
Property B
Municipal tax paid
Insurance premium paid
Interest on money borrowedfor purchase of house property
30000
3000
35000
24000
4000
4000
Compute the income from house property for the assessment year 2011 – 2012.

5. Write short notes on the following:
(a) Tax incidence
(b) Computation of net wealth
(c) Deemed assets
(d) Exempted assets

Or

Explain the provisions of the wealth tax act, 1957 with regard to the following:
(a)    Property held by a member of a housing society
(b)   Assets held by a minor

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