CS Executive Tax Laws and Practice PYQ June 2014: Question Paper and Available Answers
CS Executive
Tax Laws and Practice
PYQS Series
June 2014
34 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Tax Laws and Practice PYQS (June 2014). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- What is agricultural income? What is the tax treatment of agricultural income ?
- Define 'transfer' as per the Income-tax Act, 1961.
- X resides at Bhopal, his basic salary is ₹4,80,000 per annum. He resided in a house owned by his father upto 30 th September, 2013 during the relevant previous year 2013-14, for wh
- State with reasons whether the following constitute an asset chargeable under the Wealth-tax Act, 1957 in the hands of ABC Ltd. : Agricultural farm house situated 26 kms. outside t
- State with reasons whether the following constitute an asset chargeable under the Wealth-tax Act, 1957 in the hands of ABC Ltd. : Factory building and godowns leased out on rent.
- State with reasons whether the following constitute an asset chargeable under the Wealth-tax Act, 1957 in the hands of ABC Ltd. : House at Rajkot let-out for residential purpose.
- State with reasons whether the following constitute an asset chargeable under the Wealth-tax Act, 1957 in the hands of ABC Ltd. : Aircraft held by a shipping company having turnove
- State with reasons whether the following constitute an asset chargeable under the Wealth-tax Act, 1957 in the hands of ABC Ltd. : Cash in hand ₹5,00,000 as per cash book.
- Discuss the term 'deemed ownership' of house property as given under section 27.
- Distinguish between 'tax deduction at source' and 'tax collection at source'.
- Discuss the tax implications arising consequent to conversion of a capital asset into stock-in-trade of business and its subsequent sale.
- Discuss the provisions of the Wealth-tax Act, 1957 regarding the inclusion of the wealth of minor child in the wealth of the parents. Enumerate the exceptions to this provision.
- Discuss in brief about deduction on account of preliminary expenses under section 35D.
- Rajesh, aged 45 years, paid medical insurance premium of ₹10,000 during the previous year 2013-14 to insure his health as well as the health of his spouse. He also paid medical ins
- Discuss best judgment assessment under section 144. In what circumstances can it be made ?
- Compute the 'advance tax payable' by Kiran for the following incomes estimated for the financial year 2013-14: (i) Gross total income is ₹30,75,000 (ii) Investment in public provid
- Jay Ltd. has let out a premises with effect from 1 st October, 2013 on monthly rent of ₹2,00,000. The lease is valid for 10 years and the tenant has made a deposit equivalent to 5
- What are the special provisions for computing profits and gains of business or profession on presumptive basis under section 44AD.
- Malani furnishes the following details for the year ended 31 st March, 2014 : Short-term capital gain on sale of equity shares listed in recognized stock exchange (STT paid) ₹1,40,
- Vinay and Vivek are partners in Aaram Co., a partnership firm, which is engaged in manufacturing bottles. They share profits and losses in the ratio of 2:3. The profit and loss acc
- Compute net VAT liability of Vishnu from the following information : Imports of raw materials from foreign market (includes duty paid on imports @ 20%) ₹2,40,000 Raw material purch
- Discuss chargeability of the service tax in respect of following services: Services rendered to a friend free of cost. Market value of the same is ₹11,230.
- Discuss chargeability of the service tax in respect of following services: Services received from outside India and consumed in India.
- Discuss chargeability of the service tax in respect of following services: Service provided by individual advocate to Indian company.
- Discuss chargeability of the service tax in respect of following services: Service rendered to a recognised sports body by a referee for a match organised by a recognised sports bo
- Discuss chargeability of the service tax in respect of following services: Service provided by society for pre-school education.
- Raghu, a consulting engineer issued invoice in respect of the taxable services rendered in the month of March, 2014 for ₹75,00,000 inclusive of service tax. Compute service tax lia
- Briefly state the provisions relating to the registration under service tax.
- The following details are provided by A of Pune, who has purchased raw material for manufacturing product 'X-1' and 'X-2' from B: Cost of raw material purchased ₹5,00,000 VAT paid
- "Tax credit or invoice method has been adopted universally because of the inherent advantages in the credit method of calculating tax liability." Explain.
- Explain the provisions regarding submission of return under service tax.
- Write short notes on the following: Zero rating.
- Write short notes on the following: Contents of VAT invoice.
- On what purchases input tax credit is not allowed under VAT?
How to Prepare for CS Executive Tax Laws and Practice
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