CS Executive Tax Laws and Practice PYQ December 2019: Question Paper and Available Answers
CS Executive
Tax Laws and Practice
PYQS Series
December 2019
100 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Tax Laws and Practice PYQS (December 2019). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- The basic exemption limit in the case of a non-resident individual being super senior citizen is:
- Ms. Kapoor born in UK came to India for the first time on 10-5-2018 and remained in India till 31-08-2018. Her maternal grandparents were born in Dhaka in the year 1940. Her reside
- Which of the following income is not chargeable to tax in the case of Suresh who is resident but not ordinarily resident ?
- Ramchand (age 62) is a pensioner with monthly pension of ₹29,000. His income from interest on bank fixed deposit is ₹80,000. His income-tax liability for the assessment year 2019-2
- M/s XYZ Co. Ltd., Delhi filed appeal before Commissioner (Appeals) and succeeded in its appeal. Now the Revenue wants to prefer an appeal before the tribunal. For filing appeal by
- Income Computation and Disclosure Standards (ICDS) are applicable for transactions under the head of income :
- Welfare Charitable Trust (registered under section 12AA), paid monthly salary of ₹25,000 to its manager. It paid ₹10,000 by account payee crossed cheque and ₹15,000 by cash on the
- As per ICDS, the unlisted securities shall be valued at :
- Philip who retired from Central Government service on 28-2-2018, received monthly pension of ₹42,000 up to 30-9-2018 and ₹44,100 thereafter. His income from salary after standard d
- Mahadev (age 45) engaged in business paid ₹52,000 towards medical insurance of his parents who are senior citizens. He also paid ₹30,000 towards medical insurance for himself, his
- Zeet (P) Ltd. incurred loss of ₹1,10,000 for the assessment year 2019-20. It is planning not to file return of loss and claim the loss for carry forward. The monetary limit of the
- MNO Ltd. was incorporated in April, 2018 and its aggregate turnover for the previous year 2018-19 must not exceed __________ in order to be eligible for deduction under section 80-
- Ramesh owns two vehicles for the purpose of plying on hire. The gross vehicle weight or unladen (without any goods) weight of one vehicle was 13 MT and of another vehicle 6 MT. The
- When foreign institutional investor has long-term capital gain on sale of listed share (STT paid) of ₹5 lakhs, the amount of tax payable on such capital gain would be :
- M incurred ₹2 lakh as expenditure towards medical treatment of his father P (age 61) who suffered from advanced stage of cancer. The amount of expenditure eligible for deduction un
- Anuj owned land measuring 2 hectares and carried on agricultural operations. The land would be treated as agricultural land and not capital asset if it is within the aerial distanc
- Yadav leased his agricultural land in Meerut to Kailash. There is one dwelling house and storehouse in the immediate vicinity of the land. He received lease rent for land ₹50,000.
- Which of the following activity is an agricultural activity?
- Agricultural income of an assessee is aggregated for computing tax liability when it exceeds:
- Malik retired from Mehbooba Ltd. after rendering service for 27 years and 8 months. His 15 days salary is ₹26,000. He received ₹11,50,000 as gratuity from the employer. He is cover
- Ms. Bhavani, a blind employee, working in Beta Ltd. was paid transport allowance of ₹2,000 per month from April, 2018 to September, 2018. She was paid ₹3,000 as transport allowance
- Sridhar employed as general manager in LMN Ltd. received ₹30,000 as medical reimbursement from the employer by producing bills of a Government hospital. The amount of medical reimb
- Venkat (age 63) received ₹25 lakh from State Bank of India under reverse mortgage scheme on 5-6-2018. The house property under reverse mortgage was acquired on 1-4-1980 for ₹90,000
- Ghosh having 25% of the share capital in Ghosh Mfg. Industries (P) Ltd. took loan of ₹3,50,000 on 15-9-2018 from the company. He repaid ₹1 lakh on 20-3-2019. The company has accumu
- Which of the following income of registered trade union is liable to tax ?
- Dunlop Traders (P) Ltd. is engaged in trade of textile items. On the eve of the Diwali, it sold suitings and shirtings to its employees at cost. The market value of those goods was
- Goel completed the construction of a residential house property on 30-6-2018. He already owns another property in the same town which is self-occupied. The new construction is also
- Priti (age 61) a Chartered Accountant retired from SCG & Co. (a partnership firm) on 31-3-2018. As per the deed of retirement, she is eligible for a sum of ₹20,000 every month
- An asset eligible for additional depreciation at 20% is entitled to only 50% of the additional depreciation i.e. 10% as additional depreciation when it is put to use for less than
- Manoj & Co. (partnership firm) paid monthly rent of ₹30,000 for its premises during the previous year 2018-19. No tax was deducted at source for the rent paid up to 31-3-2019.
- Vinod & Co. is an AOP consisting of three members E, F and G. The concern paid interest on capital to member E ₹1,05,000 @ 15% per annum. It also received interest from the mem
- Ginger Shippers is owned by a non-resident engaged in shipping business. It received ₹120 lakh for carriage of goods shipped from Mumbai, India to Durban, South Africa. The presump
- Ravinder has aggregate receipt from profession of ₹45 lakhs for the previous year 2018-19. His income as per books of account is ₹20,50,000. He wants to declare income as per the p
- Which of the following is not a capital asset ?
- Pankaj, a Company Secretary in practice for the past 30 years, retired and gave his practice to Chandra in consideration for ₹15 lakh by way of goodwill. His income for the past 3
- Richard acquired 1,000 preference shares of ₹100 each in Terry Ltd. on 10-4-2016 for ₹1,32,000. He received 10,000 equity shares of ₹10 each on conversion of preference shares into
- Clean Air (P) Ltd. converted into a LLP on 30-4-2018. It is not liable to pay capital gains on conversion if the total value of assets in any of the 3 previous years preceding the
- Chatterjee received ₹1 lakh towards advance for sale of his residential house to Xavier on 10-11-2018. As the buyer Xavier could not pay the balance amount of consideration within
- Chandni (age 14) received ₹70,000 as cash gift on her birthday from her parents' friends. How much of her income would be liable for clubbing in the hands of her parent ?
- All & All is a charitable trust registered under the Income-tax Act, 1961. It acquired a vacant land for ₹8,40,000 from Allen. The stamp duty value of the land was ₹10,20,000.
- Palak employed in a private company acquired a generator to be let out on hire for marriages and social functions. He received hire charges of ₹8,50,000 and paid on 1st day of ever
- Minor Ravi received ₹60,000 by way of gift on his birthday from grandparents and ₹10,000 from non-relatives. He also received a gold chain from his father's friend whose fair marke
- Annamalai has income from business of ₹5,50,000 and loss from horse race of ₹60,000 of the previous year 2018-19. He has brought forward discontinued business loss of ₹1,10,000 of
- Kamal has eligible brought forward business loss relating to assessment year 2016-17 of ₹70,000. For the previous year 2018-19 he has (i) loss from house property ₹3,10,000; (ii) l
- Rahul & Co. Ltd. paid ₹1,10,000 towards printing of pamphlets of a registered political party in connection with state assembly elections. The expenditure incurred is :
- Lal authored a text-book for school students of Malaysia. He received Royalty (in convertible foreign exchange before 31-5-2019) of ₹5 lakh. He incurred expenditure such as ₹20,000
- Dee & Co. is a partnership firm which filed its return of income by opting section 44AD for the assessment year 2017-18. It filed its return of income as per regular provision
- Alternate Minimum Tax (AMT) under chapter XII-BA will not apply if the adjusted total income of an individual does not exceeds :
- The total income of a co-operative society is ₹2,10,000 after claiming deduction under section 80P of the Act. The total tax payable by the co-operative society on its total income
- PQ Ltd. is a domestic company whose turnover for the assessment year 2017-18 was ₹45 crore and for the assessment year 2018-19 ₹80 crore. Its turnover for the previous year 2018-19
- When a domestic company has paid tax on book profit which is higher than the normal tax payable on the total income, such excess tax so paid is eligible for carry forward up to:
- In the case of non-resident Indian (not being a company) income from long-term capital gain is chargeable to tax at __________ when the asset was originally acquired by remitting c
- Kayal engaged in trading activity reported turnover of ₹210 lakh for the previous year 2017-18 and ₹190 lakh for the previous year 2018-19. She paid brokerage of ₹40,000 to Padmaja
- Anyway (P) Ltd. paid sitting fees to directors, who attended the Board Meeting. S was paid ₹5,000 per meeting and he attended 7 meetings during the year. The amount of tax deductib
- For which of the following transactions, quoting of Permanent Account Number is mandatory?
- Kayalvizhi employed in a private company, having only salary income, filed her return of income of assessment year 2019-20 on 10-9-2019. Her total income is ₹4,10,000. The amount o
- Srikant filed his return of income for the assessment year 2019-20 on 5-6-2019 declaring total income of ₹7,40,000. What is the maximum time within which notice under section 143(2
- When the taxpayer files application for settlement of the case the additional amount of income-tax payable, as a result of search, on the income disclosed in the application must e
- A notice under section 142(1) was issued to Ashok Ghosh for filing the return of the assessment year 2019-20. When he failed to file the return within the time specified in the not
- Ganesh Traders (partnership firm) reported a turnover of ₹250 lakh for the assessment year 2019-20. It has not filed the tax audit report under section 44AB before specified date.
- Natraj engaged in business repaid loan received from Narain of ₹50,000 by cash on 16-3-2019 (Sunday). He also repaid the balance of ₹15,000 by cheque on 20-3-2019. The amount of pe
- Who can claim deduction under section 80GG in respect of rent paid for accommodation ?
- An Indian resident availed services by way of online advertisement space provided by a foreign company located in UK. The foreign company does not have a PE (Permanent Establishmen
- Which of the following relationships between two enterprises would result in them being deemed associated enterprises ?
- Which of the following powers cannot be exercised by the Transfer Pricing Officer ?
- When the Advance Pricing Agreement (APA) has been entered into, it is valid for not more than __________ consecutive previous years.
- A resident having transaction with a non-resident who has filed form 35D for advance ruling, can withdraw the application within:
- Income tax assessment of Ajay was completed determining the income at ₹8,40,000 as against the returned income of ₹5,40,000. The amount payable as fee for appeal before Commissione
- Income tax assessment of Kuber was completed on 15-12-2018 for the assessment year 2016-17. There is an error apparent in the assessment order. The time limit for rectification of
- Senthil employed in a nationalized bank incurred ₹60,000 towards medical expenditure of his parent who is a senior citizen and dependent upon him. There is no health insurance poli
- Which of the following goods manufactured or produced in India is not liable for GST upon its supply in India?
- Which Article was inserted in the Indian Constitution for levy of tax on goods and services by Centre and State/Union territories ?
- Who is the chairman of GST Council?
- When goods are sold from one place to another place, the tax liability would accrue under GST law, at :
- Dual GST model followed in India, is mainly drawn from :
- GST laws are implemented on the recommendations of :
- A & Co. sold goods to B & Co. Both A & Co. and B & Co. are in the State of Uttar Pradesh. The tax to be included in the tax invoice by A & Co. would represent :
- XYZ & Associates is a firm of Company Secretaries at Delhi. It agreed to provide continuous services to members of FICCI by entering into an agreement. In order to consider the ser
- Which of the following is 'goods' liable for GST?
- Which of the following is neither supply of goods nor supply of services ?
- Which of the following is liable for GST even though there is no consideration ?
- Which of the following is a composite supply under GST?
- Pujara of Mumbai is running a restaurant. His aggregate turnover was ₹60 lakh. He did not collect GST on his Restaurant sales of ₹60 lakh. His total GST tax liability under composi
- Out of the following manufacturer/producer/service provider, who can not avail composition scheme ?
- Balaji & Co. (firm), Chennai, a trader, furnishes the breakup of goods supplied by it during the year. (i) taxable supplies ₹40 lakh; (ii) exempt supplies ₹15 lakh; (iii) export of
- A dealer wishing to opt for composition scheme, must convey his option :
- Mumbai Soft Drink is a trader owned by Vineet & Co., a partnership firm selling soft drink. They desire to opt. for composition scheme. What is the rate of tax applicable to them u
- The aggregate turnover of Turner & Co. exceeded the limit prescribed for composition scheme on 7-3-2019. What is the course of action to be adopted by Turner & Co. for rest of the
- Mani dispatched goods to Prasad on 31-10-2018. The invoice is dated 30-10-2018. The goods were received by Prasad on 3-11-2018. The amount towards supply was received by Mani on 1-
- What is the time of supply of service in the following case: Date of issue of invoice 31-12-2018; Date of receipt of payment by supplier of service 20-12-2018; Date of provision of
- WY (P) Ltd. sold goods to PR & Co. The list price was ₹1,40,000 for the goods besides (i) packing charges ₹6,000; (ii) interest for delayed payment ₹8,000; (iii) transport charges
- Saran (P) Ltd. supplied goods to Ashwini (P) Ltd. The list price of goods was ₹3,60,000 excluding packing charges of ₹15,000. The supplier of goods i.e. Saran (P) Ltd. allowed disc
- Which of the following shall not be included in the value of supply?
- Which of the following is an exempted good under GST?
- Which of the following supply of goods or services is eligible for input tax credit?
- Lamb Ltd. received goods from Gower & Co. on 23-4-2018 along with delivery challan. It paid the amount to the supplier on 2-5-2018. The invoice issued by Lamb Ltd. dated 27-4-2018
- Sun & Co. purchased raw materials from supplier vide invoice dated 1-7-2018. It was sent directly to job worker, Moon Industries on 7-8-2018 as per the direction of Sun & Co., by t
- Verma Traders engaged in retail trade since April, 2018 applied for voluntary registration in August, 2018 and obtained registration on 29-8-2018. State the period for which it can
- Which of the following persons is not liable for registration under GST law?
- What is the monetary limit for total value of supply of taxable goods in order to attract deduction of tax at source by Government under GST?
How to Prepare for CS Executive Tax Laws and Practice
Use past questions to practise the paper format and review available answers. Check the current syllabus, applicable law and examination duration before attempting a timed paper.