NMIMS Global Access
School for Continuing Education (NGA-SCE)
Course: Taxation - Direct & Indirect
Internal Assignment Applicable for April 2019 Examination
Assignment Marks: 30
Question 1
Kabra builders is a contractor and AV Ltd is liable to make payment to the contractor for
certain transactions executed during the year. Discuss the obligations of AV Ltd as a tax
deductor and the consequences if tax is not deducted as required. (10 Marks)
School for Continuing Education (NGA-SCE)
Course: Taxation - Direct & Indirect
Internal Assignment Applicable for April 2019 Examination
Assignment Marks: 30
Question 1
Kabra builders is a contractor and AV Ltd is liable to make payment to the contractor for
certain transactions executed during the year. Discuss the obligations of AV Ltd as a tax
deductor and the consequences if tax is not deducted as required. (10 Marks)
Question
2
Amman is going to participate in a general awareness quiz at his college. However, he is
confused about GST, its various components of GST and how they differ from each other.
As a friend of Amman how you will address his confusion? Comment. (10 Marks)
Question 3
Mr. Verma owns two residential houses at Chennai. The essential details are as under
Amman is going to participate in a general awareness quiz at his college. However, he is
confused about GST, its various components of GST and how they differ from each other.
As a friend of Amman how you will address his confusion? Comment. (10 Marks)
Question 3
Mr. Verma owns two residential houses at Chennai. The essential details are as under
|
Particulars
|
House
I
|
House
II
|
|
Municipal
valuation
|
133500
|
142500
|
|
Fair
Rent
|
144500
|
135500
|
|
Standard
Rent
|
144000
|
148700
|
|
Municipal
taxes payable
|
10000
|
7500
|
|
Repairs
|
15000
|
3000
|
|
Insurance
premium
|
2500
|
2000
|
|
Interest
on loan
|
45000
|
50000
|
i. self-occupied and (5 Marks)
ii. deemed to be let out, in a manner beneficial to him (5 Marks)
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