NMIMS Global Access
School for Continuing Education (NGA-SCE) Course: Taxation- Direct and Indirect
Internal Assignment Applicable for December 2021 Examination
·
GST is called as
consumption based tax. Discuss and verify this statement with the help of a
relevant example. Also, elaborate on the different categories of GST (10 Marks)
·
Following emoluments
are received by Ms Sangeeta during the previous year ended on
31.3.202
Basic salary 250000
Dearness Allowance
10000
Commission 2500
Entertainment
allowance 2000
Medical expenses
reimbursed 25000
Professional taxes
paid 2000(Rs1000 paid by employer)
Ms. Sangeeta
contributes Rs 2000 towards the Recognized Provident Fund
She has no other
income.
Compute the income
from salary for A.Y 2021-22, and give reasons and explanations wherever
required, If Ms. Sangeeta is a Government
employee.
(10 Marks)
·
From the following
information, furnished by Ms. Anucampa pertaining to the financial year ended
as on 31st march 2021,
|
Short term capital gains on sale of shares
in an Indian company received in Japan |
10000 |
|
Dividend from a Chinese company received in
China |
3000 |
|
Agricultural income from land in Madhya
Pradesh |
5000 |
|
Dividend from PJV Ltd an Indian
Company |
4745 |
|
Gross Rent from a residential property
located at Singapore, later on remitted to the saving account
in Bank of Maharashtra, Mumbai using the approved channels |
600000 |
Compute the total
income and give reason for considering/ not considering these
specific items for the relevant assessment year 2021-22, if she is-
·
Resident and ordinary
resident (5 Marks)
·
b. Non
resident (5 Marks)
No comments:
Post a Comment