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)
*****************
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