Dr. G. R. Damodaran College of Science School of Commerce and International Business ODD SEMESTER 2023 - Assignment Schedule Class: II] BCOM (AM) - SEMESTER ~ V Guidelines for Assignment Submission: 1. Assignm should be in hand written. Use A4 Sheet to write your assignment, 2. Write legibly and staple the papers and submit it in the stick file neatly. 3. Front page of the assignment should be clearly filled with Name, Register Number, Subject name and Subject code. 4, Mention the assignment topic clearly and give relevant answers. 5. Submit your assignment on or before the due date without fail. 6. Late Submission will not be entertained 7. Assignment is one of the components for Internal Assessment which carries 10 Marks. [SNo. Subject Name Subject Assignment Topics ‘Due date | | Code | ] 1. | Corporate Accounting | 21513A. Group: I 218.2023 a 1. Calculate the value of Goodwill based ‘on four years’ purchase of the weighted average | profit after assigning weights 1,2,3,4,5 and 6, respectively to the profits for 2016, 2017, 2018, 2019, 2020, and 2021. The profits of the firm for the year ended 31st March for the last six years were: a = _ <1] [2016 2017 2018 2019 2020 2021 ——— 2 J Seem itGroup: IT 1. Calculate the value of goods on two years’ purchase of average profit of the firm from the following: a, 2020: 94,000 (excluding %8,000 as insurance premium on the firm’s property- now to be insured) b. 2021: %1,25,000 (including the abnormal gain of 220,000) ¢. 2022: 278,600 (after charging an abnormal loss of 74,000) 2. Explain the provisions of “AS 2- Valuation of inventories Group: IL 1. The net profit of a firm earned during the past four years is as follows: Years | Profit (%) | 31,600 (29,500) | | 26,200 32,700 | The capital employed by the firm is 245, Calculate the value of goodwill based on 00 and the normal rate of return is 8%. : the past three years’ purchase.of the || average super profit for the last four years 2. Explain the provisions of “AS 3- Cash Flow statement” 1. A firm earned the net profits during the last three years as follows: Years Profit 2) (2018 | ‘2019 | 15,300 | 2020 | 21,700 | The capital employed in the firm is %3,40,000, and a fair return on capital is 17%. Calculate the value of goodwill of the firm based on three years’ purchase of average super profit. ion accounting” 2. Explain the provisions of “AS 6- Depreci 5.9.2023 2.) Taxation 21513B Group:T 1. Explain the powers of central board of direct taxes (CBDT). 2. Give ten examples of income which totally exempt from income tax. 3. Compute the taxable income of Mr. Vivek if her residential status is _a) Resident |and ordinarily resident, b) Resident but not ordinarily resident and c) Non-resident. i, Income accrued in Canada but received in India Rs. 2,000. ii, Rs. 5,000 were earned in Africa and received there but brought to India. iii, Rs. 5,000 earned in India but received in Canada. iv. Rs. 10,000 eared and received in Srilanka from a business controlled from India. v. Rs, 4,000 was past untaxed foreign income, which was brought to India during the previous year 4. Compute the income from house property from information given below: Municipal Rent Value 18,000 Rent received during the year 24,000 Municipal Taxes (50% paid by tenant) | 1,800 p.a. Expenses incurred on repairs a By owner 3,000 b_By tenant 3,000 | Collection charges 1,000 Date of completion of house 1-6-1997 5. Compute Gross salary from following given below for each situation separately: Salary Rs 15,000 P.m D.A.Rs. 6000 P.m C.C.A Rs 1,000 P.m House Rent Allowance Rs. 8,000 P.m Commission on turnover achieved by him Rs,4000. Situation: Living in own house Living in rented house at Chandigarh and D.A does not enter into pay for service benefits and rent paid Rs. 10,000 p.m.1. Define the term perquisite and how are they treated for income-tax purpses? 2. What are the different categories of assesses according to their residential status 2 3. Mr. Alex, a foreigner, came to India from USA for the first time on 1* April 2016, He stayed here continuously for 3 years and went to Germany on 1* April 2019. He however, returned to India on 1% July 2019 and went to Germany on 1* December 2020. He again came back to India on 25 January 2023 on a service in India. What is his residential status for the A-Y 2023-24? 4, Distinguish between Statutory Provident Fund, Recognized Provident Fund and Unrecognized Provident Fund. 5. From the following particulars find out the taxable salary of Mr. Mohan working in Coimbatore. Population is 4 lakhs ) i, Salary Rs. 12,000 p.m. ii, D.A.Rs. 1,500 p.m. iii, Employer’s contribution to RPF - 14% of Basic salary. iv. Rent-fiee accommodation (unfurnished) — FRV is Rs. 80,000 p.a v. _ Expenses on maintenance of garden met by employer Rs. 3,000. vi, _ Interest on Provident fund balance @ 13% p.a. - Rs. 3,900. vii. He paid professional tax of Rs. 200. viii, He received Rs. 500 p.m. as fixed medical allowance. Group: III 1. Explain the scope of income 2. Write short notes on i). Municipal rental value ii). Fair rental value. 3. Mr. Ravi an Indian citizen leaves India for the first time on 31° May 2011 and comes back on 15" May 2014. He again leaves India on 10" June 2015 to come4. 4. Mr. A is employed at Amritsar on a salary of Rs. 3,000 p.m. The employer is paying HRA of Rs. 350 p.m. but the actual rent paid by him (employes) is Rs, 500 pam. He is also getting 2% of commission on tumover achieved by him and turnover is Rs. 1,50,000. Calculate his Taxable HRA. 5. Find out the indexed cost and capital gain in following cases PARTICULARS 1.W.D.V of office furniture as on 1.4.2020 is Rs.18,000 (Which was purchased on 15.09.2008 for Rs.20,000 and sold on 1.9.2020 (C.LI. = 301) for Rs.26,000) 2. Bonds purchased on 1.11.2006 (C.I1 = 122) for Rs.2,60,000 were sold on 1.1,2021 (C.L1=301) for Rs.4,00,000 3. Cost of acquisition of house at Delhi in 1996-97 - Rs.1,00,000 Cost of Improvement made in 1999 - 2000 ~ Rs.50,000 Fair Market Value on 1.4.2001 (C.L.1= 100) - Rs4,60,000 Cost of additions made in 2008 - 09 (C.1.1= 137) = Rs.3,20,000 Sale price of the house on 1.11.2019 (C.LI= 301) - Rs.28,60,000 Expenses on sale - Rs.60,000 Group: IV 1, Define GST. Explain its benefits. 2. Explain the provisions of income tax Act, 1961 regarding carry forward and set of losses... 3. What are the similarities and dissimilarities between earlier regime taxation system and GST regime?4, From the following Profit and Loss a/c of M/s Velu & Company find out Income from Business. PROFIT AND LOSS A/C Debit Rs Credit Rs Salaries and wages 13,000 | Gross profit 134,725 Rent 1,600 | Interest from Securities 275, Household expenses 2,000 Income tax 900 Advertisement 800 Postage expenses 600 ‘Drawings for personal use 900 Fire insurance premium 400 Life insurance premium 2,100 Bad debts reserve 600 Audit fee 400 Net profit 1,11,500 1,35,000 1,35,000 5. Sri Adhiyaman furnishes the following particulars of the income for the Previous Year 2020-21. Compute his Income from other sources. i) Dividend equity (gross) ) idend on preference shares i) Income from letting on hire of building and machinery - composite lease iv) Interest on bank deposits v) Director’s sitting fees vii) Income from undisclosed sources Rs. 600 3,200 17,000 2,500 1,200 600 10,000The following deductions are claimed by him. a) Collection charges of dividend Rs. 20 Viti) Income from lotteries (gross) 10,000 | b) Allowable depreciation on building and machinery Rs. 4,000. | ©) Fire insurance on building and machinery Rs. 100 | Introduction to 21513C_—_ | Group: T | 2052023 | Fintech | 2. Discuss whether fintech is boon or hindrance to Indian Economy 3. Banking industry old versus new. | 4, Domination of block chain technology in the present era. | Group: I . Future of Crypto currency in future. . Essentials of cyber security | 1 2. 3. Aland its impact on cyber security in financial services. 4, The impact of P2P lending on traditional banking system Group: I 1. Block chain and its impacts on Cyber Security 2. Legal issues in imparting cryptocurrency as legal currency in India. \ 3. Impact of Crowd funding on startups and elaborate the ways to derive funds through crowd funding, 4. Fintech and banking friends or foes Group: IV 1. Give a detailed record why Bitcoin is still emerged in market than other currencies. | : 2. Portrait the evolution of Currency from Barter to Crypto |Challenges in cyber security 4. Elaborate the challenges in imparting AI in financial sector W a Innovative Banking Practices Group: 1 1, What is Negotiable Instruments? Explain the features of three types of negotiable instruments. 2. Prepare a chart work exhibiting the specimen of any three negotiable instruments and show the parties involved in those negotiable instruments. Group: IL 1. What is Cheque Truncation? Explain its features and merits. 2. Prepare a Chart work by pictorial representation how the step by step process in cheque truncation happens. Group: IM 1. Explain the general and special relationship between banker and customer. 2. Prepare an album work by sticking the filled in pay-in-slip, DD Challan, NEFT transfer form, Cheque and specimen of pass book and mention about their purpose. Group: IV 1. What is E-banking? Analyse the various issued involved in E-banking and Suggest measures to overcome them. 2. Prepare a chart work showing the SWOT analysis based on E-Banking services provided by the banks. 5.10.2023Z| Principles and 21513V1___] Group: 7 | Practice of Health | ae | Insurance | Rashiriva Swasthya Bima Yojana | | Pradhan Mantri Suraksha Bima Yojana 10.10.2023 Group: II Ayushman Bharat Yojana Group: IT Aam Aadmi Bima Yojana Central Government Health scheme Group: IV | | Janshree Bima Yojana Chief Minister’s comprehensive Insurance Scheme | Qe ea ji Course Co-Ordinator Director