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Taxation Direct & Indirect
Question 1 (10 Marks)
Mrs.
Davidee, not being a person of Indian origin, comes to visit India for the
first time on April 15, 2010. She plans to visit all the historical palaces in
India. Determine her residential status for the Assessment year 2015-16 given
during the financial years she is in India for following days-
Question
2
“Indirect
tax is an umbrella term which not only includes Excise Duty or Custom Duty but
certain other taxes, with different statutes governing them. Discuss in detail
the different taxes. (10 Marks)
Question
3
A)
Determine the amount of disallowances for the cases given below (5 Marks )
i. Generally Mr Ravil pays
salary to his employees by account payee cheques. But salary for the
month of March 2015, is paid to Mr. X, Mr. Y , Mr. Z by bearer cheques
(payment being Rs.20000, Rs.25000,Rs20200, respectively
ii.
Daisy Ltd purchased raw material on credit from Mr. Navneet on credit who hold
20 % of equity share capital in Daisy Ltd(the amount of the bill being Rs.38800
however the market price of the goods was Rs.19460) the same is paid in cash on
June 25,2016
B) On
April 2014, the depreciated value of a block of asset is Rs.80000 (rate of
depreciation being 12 %). It consists of Plants P & Q. The assessee being
Mr. Ammar purchased one more plant C (rate of depreciation being 12 %), during
the previous year 2014-15 for Rs.50000 and sells Plant P on April 5,2014 for
Rs185000. Calculate the amount of depreciation admissible for the assessment
year 2015-16 and give reasons for the computation done. (5 Marks)
Assignment Solutions, Case study Answer sheets
Project Report and Thesis - Contact
ARAVIND – 09901366442 – 09902787224
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