NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Taxation- Direct and Indirect
Internal Assignment Applicable for April 2018 Examination
Assignment Marks: 30
Instructions:
All Questions carry equal marks.
All Questions are compulsory
All answers to be explained in not more than 1000 words for question 1 and 2 and for
question 3 in not more than 500 words for each subsection. Use relevant examples,
illustrations as far as possible.
All answers to be written individually. Discussion and group work is not advisable.
Students are free to refer to any books/reference material/website/internet for attempting
their assignments, but are not allowed to copy the matter as it is from the source of
reference.
Students should write the assignment in their own words. Copying of assignments from
other students is not allowed.
Students should follow the following parameter for answering the assignment questions.
1. Dr Kabra is planning to visit Singapore to attend a round table conference on
Neurological diseases. The conference is for 25 days. He wants to plan his tour in
such a manner that his residential status for the relevant previous year remains
unaffected. Discuss the charging section which governs the residential status of an
For Theoretical Answer
Assessment Parameter Weightage
Introduction 20%
Concepts and Application
related to the question
60%
Conclusion 20%
For Numerical Answer
Assessment Parameter Weightage
Understanding and usage
of the formula
20%
Procedure / Steps 50%
Correct Answer &
Interpretation
30%NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Taxation- Direct and Indirect
Internal Assignment Applicable for April 2018 Examination
Individual? Further, what conditions he has to satisfy in order to remain as Ordinary
resident of India for the applicable assessment year. (10 Marks)
2. From Income Tax Preview, what factors every Company needs to consider while
disbursement of Salary to its Employees? In case of general CTC structure, on which
types of allowances management needs to consider tax imposition? Explain the same
in light of provisions applicable to the allowances which are fully taxable. What if,
an Individual receives salary from more than one employer during the same previous
year, how the same will be assessed at the year end? Provide sufficient reasoning for
your answer. (10 Marks)
3. a) Apart from Normal Salary, House Rent, Income from Business / Profession and
capital gain, what could be other differential sources of Income for an Individual
from Income Tax Act point. of view. Conclude the same with relevant examples.
(5 Marks)
3. b) Mr. Pratik – a Corporate Employee lives in New Delhi and earns a basic salary of
Rs. 30,000 per month. The HRA component of his salary is Rs. 15,000 but the actual
rent paid by him is Rs. 10,000. How much exemption can he get? What steps
Company Management will undertake for calculation of this HRA exemption
amount ? (5 Marks)
*****************
School for Continuing Education (NGA-SCE)
Course: Taxation- Direct and Indirect
Internal Assignment Applicable for April 2018 Examination
Assignment Marks: 30
Instructions:
All Questions carry equal marks.
All Questions are compulsory
All answers to be explained in not more than 1000 words for question 1 and 2 and for
question 3 in not more than 500 words for each subsection. Use relevant examples,
illustrations as far as possible.
All answers to be written individually. Discussion and group work is not advisable.
Students are free to refer to any books/reference material/website/internet for attempting
their assignments, but are not allowed to copy the matter as it is from the source of
reference.
Students should write the assignment in their own words. Copying of assignments from
other students is not allowed.
Students should follow the following parameter for answering the assignment questions.
1. Dr Kabra is planning to visit Singapore to attend a round table conference on
Neurological diseases. The conference is for 25 days. He wants to plan his tour in
such a manner that his residential status for the relevant previous year remains
unaffected. Discuss the charging section which governs the residential status of an
For Theoretical Answer
Assessment Parameter Weightage
Introduction 20%
Concepts and Application
related to the question
60%
Conclusion 20%
For Numerical Answer
Assessment Parameter Weightage
Understanding and usage
of the formula
20%
Procedure / Steps 50%
Correct Answer &
Interpretation
30%NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Taxation- Direct and Indirect
Internal Assignment Applicable for April 2018 Examination
Individual? Further, what conditions he has to satisfy in order to remain as Ordinary
resident of India for the applicable assessment year. (10 Marks)
2. From Income Tax Preview, what factors every Company needs to consider while
disbursement of Salary to its Employees? In case of general CTC structure, on which
types of allowances management needs to consider tax imposition? Explain the same
in light of provisions applicable to the allowances which are fully taxable. What if,
an Individual receives salary from more than one employer during the same previous
year, how the same will be assessed at the year end? Provide sufficient reasoning for
your answer. (10 Marks)
3. a) Apart from Normal Salary, House Rent, Income from Business / Profession and
capital gain, what could be other differential sources of Income for an Individual
from Income Tax Act point. of view. Conclude the same with relevant examples.
(5 Marks)
3. b) Mr. Pratik – a Corporate Employee lives in New Delhi and earns a basic salary of
Rs. 30,000 per month. The HRA component of his salary is Rs. 15,000 but the actual
rent paid by him is Rs. 10,000. How much exemption can he get? What steps
Company Management will undertake for calculation of this HRA exemption
amount ? (5 Marks)
*****************
No comments:
Post a Comment