Nmims 2020 solved assignments - Leo Messi, a football player visits India for 110 days in every financial year. This has been his practice for the past ten years.

Nmims 2020 solved assignments - Leo Messi, a football player visits India for 110 days in every financial year. This has been his practice for the past ten years.

Nmims 2020 solved assignments - Leo Messi, a football player visits India for 110 days in every financial year. This has been his practice for the past ten years.


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Taxation- Direct and Indirect


1. Leo Messi, a football player visits India for 110 days in every financial year. This has been his practice for the past ten years. Explaining the conditions to determine the residential status, find out his residential status for the assessment year 2019-20. Also, comment on whether he is resident but not ordinarily resident during the previous year 2018-19 (10 Marks)

2. GST has made tax structure simple and clear. It brings better compliance and ensures more transparency in business affairs. GST has facilitated desired competition and coordination between central and state authorities. Discuss any five points highlighting the benefits of GST. (10 Marks)

3. a. Mr. Abraham is one of the whole time director of Sidha Shila Group of companies He receives Rs 50000 per month as sitting fees from the company for the financial year.

He is also an active partner in Sankalp LLP (limited liability partnership) from where he receives Rs 50000 as salary per month for the financial year

Discuss about chargeability of such income in the hands of Mr. Abraham, for the financial year 2019-20 (5 Marks)

3. b. Mr. Mohsin is an employee of L& T Infra. The company provides an interest free loan to Mr. Mohsin for three years. The loan amount was Rs 75000 for medical treatment in respect of tuberculosis

Discuss with suitable reasons, the value of the benefit to the assesse resulting from the interest free loan provided by the company to Mr. Mohsin. (5 Marks)


Nmims 2020 solved assignments - Leo Messi, a football player visits India for 110 days in every financial year. This has been his practice for the past ten years.

 







For answersheets contact
info.answersheets@gmail.com
+91 95030-94040




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Nmims April 2020 assignments - Mr. Abraham is one of the whole time director of Sidha Shila Group of companies He receives Rs 50000 per month as sitting fees from the company