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Sample Paper of Tax Planning for CFP by FPSB

Posted by Prashant Shah on January 7, 2013

FPSB has just released a sample paper of Tax Planning and Estate Planning.

Click to download questions: http://www.fpsb.co.in/Upload/CFPSampleQPaper/SamplePaper_TPEP.pdf

Click to download solutions: http://www.fpsb.co.in/Upload/CFPSampleQPaper/SuggestedSolutions_TPEP.pdf

We may have to wait a bit for the sample papers of the rest of the modules.


31 Responses to “Sample Paper of Tax Planning for CFP by FPSB”

  1. priyanka said

    hello sir,
    I wanted some more questions on tax planning for practice can you please mail me on priyanka_gela@yahoo.com

  2. TAPAN DAVE said

    dear sir,
    pl send me copy of similar questions of tax planning & estate planning..

    • Dear Tapan,
      I regret to say that sending material to anyone is out of the scope of the blog. Its an interactive platform where we have many people who will help to understand the concepts.
      You will find many updates on the site after January.
      You may feel free to ask relevant question on the site.

      Prashant V Shah.

    • dear sir,
      pl send me copy of similar questions of tax planning & estate planning..
      i am going to appear for the tax palnning paper in next weak so pls send some question for the tax planning.

  3. R Varadarajan said

    Dear Prashant,
    I am glad to advise that I have cleared the Tax Planning Paper today in ” B ” Grade. Thanks for your posts in the website. I am planning to appear for Investment Planning Paper during the month end. I look forward to your guidance.

    Thanks and regards,

  4. R Varadarajan said

    Dear Prashant,
    I got two questions in my Tax Planng Paper, to calculate the the Liquid Asset Ratio of Individuals who have Bank balances, MF, Shares & other Assets with Annual Expenses details, & EMIs on car/home loans. I could not figure out how to calculate the same. Please could you provide some workings with hypothetical data.


    R Varadarajan

  5. R Varadarajan said

    Dear Prashant/ Manish,

    Can you please provide the solution for the question in Investment Planning. My answer comes to 953884 while the correct answer is shown as 804114

    “Ms. Madhu is in the business of buying houses, fixing them up and reselling them at a profit. She is considering purchasing a house but knows that she has to invest Rs. 250000 at the end of the first month and Rs. 50000 at the end of 6 months to restore the house before selling it. She expects to sell the house at the end of 18 months for Rs. 1760000. If Madhu requires a 25% annual return on her investments and there is a 6% real estate brokerage payable for these transactions, then what is the maximum amount she can offer to buy the house?

    ( a )Rs. 906880 ( b ) Rs. 872850 ( c ) Rs. 804114 ( d )Rs. 852360”

    Please could some one provide a solution for this problem.

    R. Varadarajan

  6. Manish said

    Dear R varadarajan my friend guide me in this way:-

    this sum can be solved with the help npv cashflow

    months cash flow
    1 -250000
    2 0
    3 0
    4 0
    5 0
    6 -50000
    7 0
    8 0
    repeat this upto 17 months,then
    18 1654400(1760000-((1760000*6%))).

    compute npv which comes to 852361.this figure represents net npv. for every 100 rs u need to pay 6 rs brokerage,if we convert this into 100 then we will get her max.purchase price that she can offer to purchase a house.

    852361 106(brokerage)
    ? 100(brokerage).answer=804114

    • R Varadarajan said

      Thanks for the response and clarifications and the working. I had tried this as well – but was getting the NPV as 870118.71 instead of 852361 with interest =25/12. Am I making any mistake. Please could you confirm. Thanks again for your help

      • Vinayak said

        Mr. Varadarajan,

        In the cash mode, enter -250000 at 2, -50000 at 7 and 1654400 at 19. This is so because 1 in cash mode signifies beginning. Since 250000 is invested at the end of the month, you have to enter it at 2. This is the rule you should follow in CASH mode. Try this and you will get the answer.


      • R Varadarajan said

        Thank ou Vinayak. It makes sense, since there is no provision for year/Month ‘0’ in Cash Mode, and since we start at 1, the end of 1st month becomes 2. I checked that up and it works. Thanks for your clarification.
        R Varadarajan

  7. Manish said

    Dear R varadarajan try this sum on excel i think there might be some difference in mode.

  8. Roopa Soni said

    Dear Prashant Sir,

    Request you to advice on tax and estate planning changes applicable for AY 2013-14.


  9. Roopa Soni said

    Dear Prashant Sir,

    Thanks a lot for all tax updations.
    I have Dr.Vinod Singhania’s book for tax but of AY 2012-13 do I need to buy new book AY2013-14.
    Sir, please guide if other then Singhania,is there is some other good refernece book available?


  10. Roopa Soni said

    Dear Sir,

    Thanks. But wanted to know is AY 2012-13 singhania’s book works as AY has changed to 2013-14.

  11. Hargovind Singh said

    Dear Prashant Sir,

    Warm Regards

    I have cleared my 2 exams of RAIP and Retirement Planning.But from last 2 months have been preparing for the Tax Planning exam,have given 3 attempts but still not able to crack it so can you kindly guide how to study and prepare further.

    Awaiting for response

    • Dear Hargovind Singh,

      Let me share the experience of students, those who have thorough understanding of law and applications have comfortably cleared it. Hence suggest you to sharpen the understanding of law and application. You may also refer Singhania for the relevant topics. And feel free to ask any thing, we all are here to help you.

      Prashant V Shah.

  12. zalak thakker said

    i am going to give insurance module exam after 15 days so want some sample paper other then given on fpsb sight and some mcq for this module

    • Dear Zalak,

      Unfortunately we don’t have any other questions for Insurance apart from FPSB sample. And past question banks seem to be irrelevant now.


  13. jyoti1752 said

    Hi all
    please let me explain the calculation given in section IV question no 6 of FPSB site
    is there not applied normal slab rate why does the full amount of pension redused


    • Dear Pradeep,

      You can use any of the book available in market for CFP. Taxation as a subject requires lot of conceptual and technical understanding, hence you need not search for the books here and there. It is a bit tricky module but it has been divided into 3. 20% IFP, roughly 20% estate planning and remaining is pure tax. That to capital gain is given good weight. So all you need to do is to plan your preparation.

      Best Regards,

  15. Amarender said

    sir please help me with taxation planning questions and Investment planning. I have taxation exam on mar14 plz do help me by sharing if u have any solved questions,and from the students who have given their exams before.

  16. Anees Rao said

    Hello sir,

    Regarding the sec 4, question 6 in the Fpsb taxation sample paper

    Click to access Sample%20Paper_TPEP.pdf

    I have seen a solution which basically assumes that the pension that the beneficiaries receive is tax free. They only pay taxes on the income from house property that is distributed to them. The total tax comes to Rs. 70864 inclusive of chess, which is payable by the representative assesses.
    I couldn’t find any basis for the exemption on the pension part in the rules. Can you please help me understand this?

    Anees rao

  17. Nikita said

    Prashant sir can you upload more similar taxation planning questions ?

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