We have two types of assignment for NMIMS

1. General for everyone
2 special and plagarism free unigue assignment 

for more enquiry please contact our sales team

NMIMS Global Access

School for Continuing Education (NGA-SCE) 

Course: Taxation- Direct and Indirect

Internal Assignment Applicable for June 2020 Examination

Assignment Marks: 30 Instructions:

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. Ms. Ankita completed her MBA from DAVV, Indore. She joined an enterprise as an Accounts Manager at a CTC of Rs 650000. She invested Rs 150000 in PPF and paid mediclaim for herself Rs 15000 using cash as a mode of payment. Discuss and compute her tax liability assuming she is residential individual for the Assessment year 2019-20 (10 marks)
    
2. Ms. Urrjja is running successfully the business of supplying &selling woolens on the digital platform. She is keen to understand how business expenses are allowed under the Indian Income Tax Act 1961. However, these days she is more concerned about whether there is any provision under the Act which allows claiming deductions in relation to residuary expenses.
   
   As a knowledgeable person in taxation, how will you address the worry of Ms. Urrjja. Is there any provision under the IT Act which allows to claim deductions of residual expenses? If yes, how can she avail the benefit of the said provision for her business? (10 marks)
    
3. Mr. Mohan, aged 65 years, derives Rs 7.5 lacs as salary from Amiir PanWala & Company for the year ended 31.03.2019. He supplies the following information to the accounts department of the employer. (Applicable Assessment year 2019-20)
    

   Particulars	Amount
   Loss from one of the Self - occupied property	Rs 200000
   Loss from let out house property	Rs 360000
   Interest from Flexi Fixed Deposits	Rs 150000

   
   a) Explain and examine the applicability of TDS provision (5 marks)
   
   b) Compute total tax liability and monthly deduction for TDS (5 marks)