CS Executive Tax Laws and Practice PYQ December 2020: Question Paper and Available Answers

CS Executive Tax Laws and Practice PYQS Series December 2020 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 2020). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.

Open Interactive Practice Mode View Chapter Weightage Analysis Download PDF Question Papers

Indexed questions

Judicial decisions are being pronounced by various appellate authorities, tribunals, courts and by High Courts on the disputed matters which are binding specifically whereas the de
Taxes and duties referred to in the Union list except those referred to in Articles 268 and 269, surcharge on taxes and duties and any cess levied by the ______ for specific purpos
The incidence of tax on income under the Act is linked with residential status of an assessee. Ram, an individual brought into India during the previous year 2019-20 past untaxed p
Radhika during the previous year 01.04.2019 to 31.03.2020 received (1) Dividend from XYZ Ltd of UK, a Foreign Company of ₹12,00,000 (2) Agriculture income from land in Rajasthan of
Sita Raman born in U.K. is a foreign citizen. His father Radha Raman was born in Rajasthan in 1960 and mother Geeta was born in South Africa in 1965. His grandfather was also born
Section 87A provides a rebate from the tax payable by an assessee, being an individual, whose total income does not exceed ______ for the assessment year 2020-21.
The Income Tax Department is governed by the ______ and is a part of the ______ under the Ministry of Finance, Government of India.
A resident assessee, who is of the age of 60 years or more but less than 80 years at any time during the previous year 2019-20 shall not be paying tax on income up to ______ but sh
Any voluntary contributions received by an electoral trust not be included in the total income where such electoral trust distributes to any political parties ______ of the aggrega
Kamal has established in the previous year 2018-19 two industrial undertakings, one in a SEZ and one in a normal DTA. The summarized results for both the Units for previous year 20
Income derived from sale of coffee grown, cured, roasted and grounded in India as per Rule 7B (1A) of Income Tax Rules shall be treated both as agricultural income and business inc
Which out of the following is not the correct statement as to the definition/scheme of "Reverse Mortgage"?
House property owned by Pankaj located at Ajmer having municipal valuation : ₹1,55,000, fair rent: ₹1,40,000, standard rent: ₹1,24,000 was let out for the period 1st April, 2019 to
Chandra owns a house property constructed with the borrowed capital on 31.03.2008 and since then used by him for own residential purposes. Municipal value of the property is ₹1,00,
The Gross Annual Value (GAV) as per section 23(1) of the Act of a house property owned by Suresh covered by Rent Control Act, remained let out during the previous year 2019-20 for
Car having cubic capacity of engine not exceeding 1.6 liters owned or hired by employer provided to the employee for use wholly for private purposes of which running and maintenanc
Nitesh, working in a factory at Kolkata received during the previous year 2019-20 ₹2,00,000 as basic salary and ₹50,000 as house rent allowance. Rent paid by him for residence in K
Subodh Kumar, IAS, a Central Government employee received total salary of ₹18,00,000 and ₹10,000 as entertainment allowance during the previous year 2019-20. Actual expenditure inc
Rate at which depreciation shall be allowed in case of Ocean-going ships including dredgers, lugs, barges, survey launches and other similar ships used mainly for dredging purposes
ABC limited engaged in the business of growing and manufacturing tea in India deposited ₹80 lakh in the "Special Account" during the previous year 2018-19 and claimed the same as d
XYZ limited commenced production on 1st December 2019 of paper boards made payments (i) on 1st January 2020 of ₹1,00,000 to the Indian Agricultural Research Association, Jaipur bei
Any expenditure incurred by an assessee on the activities relating to the corporate social reasonability (CSR) referred to in section 135 of the Companies Act, 2013 for the purpose
XYZ Ltd paid an amount of ₹2,00,000 towards rent for the business premises to Ramavtar on 12.01.2020 and did not deduct tax at source. Ramavtar also had not paid the tax on such in
Maintenance of such books of accounts and other documents is compulsory under section 44AA of the Income Tax Act, 1961 when every person who is carrying on business or profession a
GG Goods Transporters engaged in the business of carriage of goods owns on 1st April, 2019 trucks consisting (i) 6 heavy goods vehicles having weight of each of 14 ton and (ii) 3 l
Monika enters into an agreement on 7th April, 2019 to transfer a piece of land for an agreed consideration of ₹66,00,000 by taking an advance payment of ₹10,00,000 by an account pa
Rahim converted into stock in trade on 10th May 2007 his capital asset which was acquired by him on 15th June, 2002 for ₹70,000. Subsequently the stock in trade so converted was so
Mark to market loss computed in accordance with income computation and disclosure standards (ICDS) is being allowable as deduction from the Income computed under the head ______.
Ratan Lal, aged 55 years, resident in India having during the previous year 2019-20 income of winnings from races: ₹20,000 (expenditure incurred: ₹200), Short Term Capital Gain: ₹1
Identify and find out which in the following is the false statement regarding applicability of ICDS.
Carried forward losses of normal business can be set off against any other income in subsequent assessment year except ______.
Where the income of an individual includes any income of his minor child as per section 64(1A) of the Act; such individual shall be entitled to claim exemption of a certain amount
Rajkamal has four minor children (2 daughters and 2 sons). The annual income of two daughters was ₹9,000 and ₹4,500 and of two sons was ₹6,000 and ₹4,000 for the financial year 201
Income of interest received by a minor child on a fixed deposit with a bank made out of/from the amount of scholarship received from the State Government is ______.
Rama Farm Pvt Ltd is a producer company as specified under section 581A(i) of the Companies Act, 1956. In order to avail/ taking the benefit of deduction under section 80PA, the to
Zubin is intending/going to purchase agriculture lands in the rural area located in Gujrat for ₹70,00,000 in the previous year 2019-20. He wants to know whether there is any obliga
The maximum amount which can be donated in cash for claiming benefit of deduction under section 80G of the Act is ______.
An individual resident senior citizen tax payer can claim an amount of ______ as deduction in respect of specified income of interest on bank deposits, post office deposits and dep
A deduction of an amount of ______ under section 80EEA in respect to interest paid on home loan for acquisition of residential house under affordable housing is available to ______
Sandeep during the previous year 2019-20 receives royalty on books of ₹1,00,000 at a rate of 17% and incurs ₹10,000 as expenditure for earning the amount of royalty. The books are
The rates of income tax excluding cess and surcharge if any applicable to a co-operative society for the assessment year 2020-21 where the total income exceeds ₹20,000 be ______.
Credit for tax (tax credit) paid by a person on account of AMT under Chapter XII-BA shall be allowed which can be carried forward up to ______ immediately succeeding the assessment
Provisions of section 115JC under Chapter XII-BA shall not apply to an Individual or a HUF or an AOP or a body of Individual (whether incorporated or not) or any artificial judicia
Hindu Undivided Families (HUFs) according to Hindu law are governed by two schools being Mitakshara and Dayabhaga. Mitakshara School applies to whole of India except the states of
Amount of salary paid to a working partner by a partnership firm is taxable in the hands of partner in the assessment year as per provisions of Income tax Act, 1961 under ______.
As per section 115BBD where the total income of an Indian company includes any income by way of dividends declared, distributed or paid by a specified foreign company, such income
Where the total income of an assessee includes any income by way of transfer of Carbon Credits, the tax payable thereon in Asst. Year 2020-21 shall be at the rate of ______ with ap
As per section 176 of Income Tax Act, 1961 where any business or profession is discontinued in any assessment year than as per section 176(3), person discontinuing their business o
As per section 234B, where the advance tax paid during the previous year 01.04.2019 to 31.03.2020 on or before March, 2020 is less than 90% of the assessed tax as reduced by the am
Person paying any sum on which tax is collectible at source as per provisions of section 206CC shall furnish his PAN to the person responsible for collecting such tax at source. A
Section 244A provides where the refund is out of any tax paid under section 140A, simple interest shall be calculated at the rate of ______ comprised in the period from the date of
XYZ Ltd during the previous year 2019-20 has made payments for Professional Services of ₹15,000 and of ₹20,000 towards Royalty to Mahesh Kumar. TDS required to be deducted by XYZ L
A return of income where furnished after the due date than the period for which the interest is payable under section 234A commences from ______.
The payer as per section 194N of Income tax Act, 1961 is required to deduct tax at source at the rate of ______ on the cash payments, if aggregate of withdrawals during the financi
Any person being an individual or a HUF (other than those who are not required to deduct tax under section 194C or 194H or 194J) paying any sum to any resident contractor or profes
State and find out in which of the following transactions quoting of PAN is not compulsory/mandatory?
Ram Nath a resident individual having income of salary and interest on deposits has computed his total income at ₹9,00,000 for assessment year 2020-21. He wants to furnish his retu
State which out of the following, statement relating to Dispute Resolution Panel (DRP) is a wrong or incorrect statement :
The Chief Commissioner or the Commissioner or an assessee aggrieved by any order passed by the Income Tax Appellate Tribunal (ITAT) may file an appeal before the high court and suc
An assessee may at any stage of a case relating to him make an application in Form No. ______ to the Settlement Commission to settle the case. Such application other than the case
In case of failure to file the income tax return, prosecution proceeding may be initiated against the assessee under section 276CC of the Act where the tax payable on the returned
"______" will be used to describe every attempt by legal means to prevent or reduce tax liability which would otherwise be incurred by taking advantage of some provision or lack of
Tax planning is legitimate, honest and rightful approach to the attainment of maximum benefits of taxation laws within their frame-work having certain basic objectives. Find from t
Instructions issued by CBDT as per section 119 of the Act have statutory force and are equally binding on all concerned. State which out of the following is the false statement in
Tax Planning exercise ranges from devising a model for specific transaction as well as for systematic corporate planning. In this context find from the following which is not a typ
Ram & Associates entered into an international transaction or specified domestic transaction failed to furnish information and documents in respect of such international transa
The Advance Pricing Agreement (APA) shall be valid for a period as specified in the Advance Pricing Agreement. However this period will not be more than ______.
Chapter X-A of the Act contains General Anti-Avoidance Rule (GAAR) and section 102 in this chapter contains various definitions. Find and state the meaning assigned to "Tax Treaty"
The application for obtaining an advance ruling as per section 245Q (2) shall be made in ______ and it should be accompanied by a fee of ______ or such fees as may be prescribed st
State which amongst the following is not a power of Authority for Advance Ruling (AAR) under section 245U of Income Tax Act, 1961:
Integrated Goods & Service Tax (IGST) Act, 2017 was passed by the Parliament under ______ of the Constitution and it provides that goods and services tax on ______ in the cours
______ is based on Canada Model wherein taxes are being collected by the Centre. However, it also provides that two different rates of tax are to be levied by the Centre and the St
State and find from the following which hierarchy of Administrative Mechanism is being in operation at the central level for GST:
The Constitution (One Hundred and First Amendment) Act, 2016 provides that the GST Council, in its discharge of various functions shall be guided by the need for a ______ structure
The Constitution (One Hundred and First Amendment) Act, 2016 provides for compensation to the states for loss of revenue arising on account of implementation of the Goods and Servi
Goods and Services Tax Net Work (GSTN) is a Central Agency providing the whole Information Technology (IT) infrastructure to achieve the objects of tax administration under GST. In
According to Rule - 3 of CGST Rules, any registered person opts to pay tax under section 10 of the CGST Act, 2017 shall file an intimation in Form GST ______ prior to commencement
Scope of supply has been given under section 7 of the CGST Act, 2017 and schedules-I, II and III list various activities to be treated as supply or otherwise. Find from the followi
Section 10(2) of the CGST Act, 2017 lays down various conditions and restrictions relating to eligibility for composition levy. Find from the following in this context, which of th
Under GST regime, a category by the name "North Eastern and Special Category States" has been defined which comprise of:
Under section 14 of the CGST Act, 2017 where the payment has been received before the change in rate of tax but the invoice for the same is issued after the change in rate of tax,
Section 7(2) of the CGST Act, 2017 provides that notwithstanding anything contained in section 7(1) of the CGST Act, 2017, activities which are neither of goods nor supply of servi
Main difference between Composite supply and Mixed supply is that :
Form GST CMP-07 is used for :
Under GST regime, when goods are sent from a taxable person to a job worker it shall be treated as supply and will be liable to GST, if the goods so sent are being not received bac
Input Service Distributor (ISD) is required to file monthly return by ______ of the following month in form ______.
A GST registered manufacturing company provides the information and particulars of GST paid for the month of December, 2019 on (a) goods and services where tax has been paid by sup
As per Section 11 of CGST Act, 2017 where Government is satisfied that it is necessary in the public interest so to do, it may, on the recommendations of the council, by special or
Ascertain the value of taxable supply under GST with respect to the given independent services provided by the registered persons (1) Fee charged for yoga camp conducted by a chari
As per section 36 of CGST Act, 2017 the time duration for retention of accounts and records under GST is until expiry of ______ from the due date of furnishing of ______ for the ye
A specialized agency of the UNO and/or Embassy of foreign countries entitled to a refund of tax paid by it on inward supplies of goods or services or both, may make an application
A return in Form GSTR-11 under GST giving details of inward supplies is required to be furnished by 28th of the month following the month for which statement is filed by ______.
Section 52 of CGST Act, 2017 specifies that electronic commerce operator to collect tax not exceeding ______ of the net value and to deposit within ______ of the expiry of the mont
As per section 50 of CGST Act, 2017 interest not exceeding ______ calculated from the next day of the due date has to be paid for delay of payment. Interest on undue or excess clai
A return under GST in form ______ is required to be filed by a Non-resident taxable person by ______.
A registered taxable supplier of services in case of continuous supply of services having unascertainable due date is required to raise the invoice as per section 31 of the CGST Ac
The ______ under Section 49(1) shall be maintained for each person, liable to pay tax, interest, penalty, late fee or any other amount, on the common portal for crediting the amoun
As per section 5 of the IGST Act, 2017 a maximum rate of tax of ______ can be imposed on interstate supply of goods and services.
The place of supply (POS) as per section 10 of the IGST Act, 2017 in case of where supply not involving movement of goods whether by the supplier or the recipient shall be ______.
If the goods so seized are of perishable or hazardous nature, such goods can be released by an order under ______ only after taxable person pays an amount equivalent to the market

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.