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ASSIGNMENT HELP SEP 2021 NMIMS - Mr. Pagaria holds a residential house property, which he purchased in the year 2013. He disposed off the property at a long term capital gain of Rupees 35 lacs.

For NMIMS Assignments, Case study Answer sheets Project Report and Thesis contact [email protected] www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 Taxation Direct and Indirect 1. Mr. Pagaria holds a residential house property, which he purchased in the year 2013. He disposed off the property at a long term capital gain of Rupees 35 lacs. Mr. Pagaria is confused about how can he get the exemptions under section 54 and 54 EC of the Income Tax Act. Discuss in the light of the relevant provisions of the Income Tax Act, is it possible for him to get these deduction. If yes, then up to what extent and what are the conditions he needs to fulfil and adhere to, so as to get the necessary deductions. (10Marks) 2. Mehta and Kumar are in the supplies of readymade garments. They started with this business a month ago, in this lockdown period. They want to understand on the tax ability of the said supplies. They visited a tax consultant to understand on this. The consultant mentioned that the supply of goods and services falls under GST can be divided in to two categories. You as a consultant, the various types of the taxable supplies and the non taxable supplies (10Marks) 3. Mr.Vaibhav, aged 44 years is a salaried employee. For the previous year, relevant to the assessment year he paid medical insurance premium of Rupees 22000 in order to insure his and his spouse. Heal so paid Rupees 45000 for the medical insurance of his father Mr Ashok, who is a senior citizen, and he is independent individual. He contributes Rs. 4000 to a Covid Protection Health Scheme, which is a Central Government Scheme. Additionally, on a safer side he get certain preventive health check up done for his wife, wherein he paid cash Rs 2300 for such preventive health check-up and Rupees 4500 on preventive health check-up for his father. a. Compute the actual payment done and the maximum deduction he is eligible to claim for himself and his spouse. Also, give reason for the answer (5 Marks) b. Compute the actual payment done and deduction he is eligible to claim for his father. Also, give reason for the answer (5 Marks) For NMIMS Assignments, Case study Answer sheets Project Report and Thesis contact [email protected] www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224

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ASSIGNMENT HELP SEP 2021 NMIMS - Mr.Vaibhav, aged 44 years is a salaried employee. For the previous year, relevant to the assessment year he paid medical insurance premium of Rupees 2200

For NMIMS Assignments, Case study Answer sheets Project Report and Thesis contact [email protected] www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 Taxation Direct and Indirect 1. Mr. Pagaria holds a residential house property, which he purchased in the year 2013. He disposed off the property at a long term capital gain of Rupees 35 lacs. Mr. Pagaria is confused about how can he get the exemptions under section 54 and 54 EC of the Income Tax Act. Discuss in the light of the relevant provisions of the Income Tax Act, is it possible for him to get these deduction. If yes, then up to what extent and what are the conditions he needs to fulfil and adhere to, so as to get the necessary deductions. (10Marks) 2. Mehta and Kumar are in the supplies of readymade garments. They started with this business a month ago, in this lockdown period. They want to understand on the tax ability of the said supplies. They visited a tax consultant to understand on this. The consultant mentioned that the supply of goods and services falls under GST can be divided in to two categories. You as a consultant, the various types of the taxable supplies and the non taxable supplies (10Marks) 3. Mr.Vaibhav, aged 44 years is a salaried employee. For the previous year, relevant to the assessment year he paid medical insurance premium of Rupees 22000 in order to insure his and his spouse. Heal so paid Rupees 45000 for the medical insurance of his father Mr Ashok, who is a senior citizen, and he is independent individual. He contributes Rs. 4000 to a Covid Protection Health Scheme, which is a Central Government Scheme. Additionally, on a safer side he get certain preventive health check up done for his wife, wherein he paid cash Rs 2300 for such preventive health check-up and Rupees 4500 on preventive health check-up for his father. a. Compute the actual payment done and the maximum deduction he is eligible to claim for himself and his spouse. Also, give reason for the answer (5 Marks) b. Compute the actual payment done and deduction he is eligible to claim for his father. Also, give reason for the answer (5 Marks) For NMIMS Assignments, Case study Answer sheets Project Report and Thesis contact [email protected] www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224

ASSIGNMENT HELP SEP 2021 NMIMS - Mehta and Kumar are in the supplies of readymade garments. They started with this business a month ago, in this lockdown period.

For NMIMS Assignments, Case study Answer sheets Project Report and Thesis contact [email protected] www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224 Taxation Direct and Indirect 1. Mr. Pagaria holds a residential house property, which he purchased in the year 2013. He disposed off the property at a long term capital gain of Rupees 35 lacs. Mr. Pagaria is confused about how can he get the exemptions under section 54 and 54 EC of the Income Tax Act. Discuss in the light of the relevant provisions of the Income Tax Act, is it possible for him to get these deduction. If yes, then up to what extent and what are the conditions he needs to fulfil and adhere to, so as to get the necessary deductions. (10Marks) 2. Mehta and Kumar are in the supplies of readymade garments. They started with this business a month ago, in this lockdown period. They want to understand on the tax ability of the said supplies. They visited a tax consultant to understand on this. The consultant mentioned that the supply of goods and services falls under GST can be divided in to two categories. You as a consultant, the various types of the taxable supplies and the non taxable supplies (10Marks) 3. Mr.Vaibhav, aged 44 years is a salaried employee. For the previous year, relevant to the assessment year he paid medical insurance premium of Rupees 22000 in order to insure his and his spouse. Heal so paid Rupees 45000 for the medical insurance of his father Mr Ashok, who is a senior citizen, and he is independent individual. He contributes Rs. 4000 to a Covid Protection Health Scheme, which is a Central Government Scheme. Additionally, on a safer side he get certain preventive health check up done for his wife, wherein he paid cash Rs 2300 for such preventive health check-up and Rupees 4500 on preventive health check-up for his father. a. Compute the actual payment done and the maximum deduction he is eligible to claim for himself and his spouse. Also, give reason for the answer (5Marks) b. Compute the actual payment done and deduction he is eligible to claim for his father. Also, give reason for the answer (5Marks) For NMIMS Assignments, Case study Answer sheets Project Report and Thesis contact [email protected] www.mbacasestudyanswers.com ARAVIND – 09901366442 – 09902787224

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