CS Executive Tax Laws and Practice PYQ June 2019: Question Paper and Available Answers
CS Executive
Tax Laws and Practice
PYQS Series
June 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 (June 2019). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Mohan, retried from Y & Company Ltd. on 31-08-2018 after rendering services for 31 years and 7 months. He was paid ₹11 lakhs as gratuity under the Payment of Gratuity Act, 1972. Hi
- Green Wood Plantation Ltd. is engaged in cultivation and processing of Tea. Their net income during A.Y. 2019-20 is to the tune of ₹20 Lakhs. What proportion out of the income of ₹
- Application filed before Authority for Advance Ruling (AAR) may be withdrawn within __________ from the date of application.
- Short term capital loss can be set-off as per provisions of section 72 of the Income Tax Act, 1961 from:
- Nair, a retired person of 68 years of age obtained ₹10,000 per month from 1st April, 2018 on reverse mortgage of his self-occupied residential property from a bank. The fair rent o
- Rohan, an employee of State Government received ₹1,000 per month as entertainment allowance during the financial year 2018-19. His salary excluding any allowance, benefit or other
- Appeal against the order of Appellate Tribunal (ITAT) can be filed in High Court within __________ days.
- Narendra engaged in retail trade let out his fully furnished house with lift, air conditioners, fridge, security staff and gardener at a rent of ₹1,00,000 per month. The agreement
- John, who recently retired from service of a company on 31st March, 2019 is eligible for a monthly pension of ₹20,000. He has received gratuity on his retirement also. He wants to
- Revision order of the Commissioner of Income Tax passed under section 264 of the Income Tax Act, 1961 can be challenged by the assessee by filing an appeal to:
- A registered political party have income during the year 2018-19 of banks interest ₹5,00,000, rent from letting of building ₹3,00,000 and voluntary contribution by cheque ₹8,00,000
- Raghav Housing Finance Ltd., a NBFC is eligible to claim deduction in the case of provision made for bad and doubtful debts to the extent of __________ total income.
- XYZ Ltd. paid ₹5 lakh on 22-1-2019 to a national level laboratory for carrying scientific research unrelated to the business of the company. The amount of deduction eligible under
- Patel, a textile dealer, purchases goods worth ₹65,000 from Anand and made the payments: (i) ₹12,000 by account payee cheque on 5th June, 2018, (ii) ₹8,000 by cash on 16th August,
- Deccan Ltd. incurred an amount of ₹16 lakh as preliminary expenses for setting up a project costing ₹100 lakh during financial year 2018-19. The amount of amortization available as
- Tulip & Co. is a partnership firm of two partners. Total turnover of the firm during financial year 2018-19 is ₹160 lakh inclusive of ₹60 lakh made through account payee cheques an
- Employer's contribution to Recognized Provident Fund (RPF) in excess of 12% of salary income of an employee shall be treated as:
- Zed Ltd. a domestic company engaged in manufacturing activity at Mumbai acquired a plant for ₹5 lakh on 7th January, 2019 which is eligible for depreciation @ 15%. It paid ₹4 lakh
- A professional is required to get his accounts audited under section 44AB of the Income Tax Act, 1961 where the gross receipts from profession during the financial year 2018-19:
- 'A' Transport company engaged in the business of plying goods carriage with 4 heavy vehicles and 3 non-heavy vehicles. All the non-heavy vehicles were sold on 10th May, 2018 and 2
- As per Income Tax Act, 1961 surcharge @ 12% is payable by a domestic company if the total income exceeds:
- B joined Avtar & Co. as a partner on 1st June, 2018. He contributed his vacant land in the firm as his capital which was recorded in the books of the firm at ₹5 lakh. The land was
- Maintenance of books of accounts in the case of an HUF carrying business is mandatory, if the turnover or gross receipts in any one of the three years immediately preceding the pre
- A company engaged in manufacturing of steel balls acquired computers at a cost of ₹3 lakh on 10th July, 2018. The depreciation allowance for the A.Y. 2019-20 under Income Tax, 1961
- Durafon (P) Ltd., engaged in steel industry, acquired a vacant piece of land on 15th May, 2016. The company sold the said land in December, 2018. The profit earned on sale of vacan
- Aiyer gifted 100 shares to his wife on 1st August, 2013. She received 200 bonus shares from the company in April, 2017. All the shares were sold to a friend for ₹1,50,000 in May, 2
- The loss from activity of owning and maintaining race horses is eligible for carry forward and set off for a maximum period of:
- D transferred Zero Coupon Bonds on 20th August, 2018. These bonds were acquired during the financial year 2010-11. The capital gain computed on the redemption with indexation benef
- Objective of tax planning cell in an organization is to:
- The total income of Mrs. Rose for the financial year 2018-19 is ₹3,40,000. Her tax liability for A.Y. 2019-20 on the income of ₹3,40,000 shall be :
- Rao, carrying a business, contributed ₹40,000 in the National Pension Trust account. He also made a tax saving deposit of ₹1,20,000 in his PPF account and ₹40,000 in LIC Premium. T
- Timir, (aged 51 years) subscribed to health insurance for him, wife and son and paid premium of ₹28,000. He also incurred medical expenditure for his parents during the year amount
- In the case of a non-resident, which of the following income is not taxable in his hand :
- Kant, is engaged in the business of purchase and sale of pieces of various lands. During the F.Y. 2018-19, he sold pieces of lands for ₹32 lakh. All these sales were made through c
- Time limit for completion of Assessment/ Re-assessment under section 147 of the Income Tax Act, 1961 is:
- Prakash maintained a recurring deposit by paying ₹20,000 per month in a bank. The interest accrued and credited during 2018-19 on such deposit is ₹15,000. The amount of TDS require
- Sagar engaged in a business, booked a marriage hall of Yash having PAN for conducting mega sale during festival season of F.Y. 2018-19 and paid rent of ₹55,000 for 3 days period. H
- Hindu Undivided Family (HUF) of Vinay consisted of himself, his major son, minor son and his wife. At the time of filing of return of income of the HUF for A.Y. 2019-20, Vinay was
- A tax payer wants to prefer an appeal against the order of the Assessing Officer. He received the order dated 30th April, 2019 on 5th May, 2019. He must prefer an appeal before the
- An advance ruling can be sought from the Authority for Advance Ruling (AAR) by :
- When a person, who has entered into an international transaction, fails to furnish information or document in relation to his international transaction to the Assessing Officer, he
- In the case of an individual who is not an ordinarily resident in India, the income chargeable to tax in India out of the following shall be:
- Which of the following is not the objective of safe harbour rules :
- Anil made following transaction for the year ended 31st March, 2019
- M Ltd. has Minimum Alternative Tax (MAT) credit of ₹5,20,000 of the assessment year 2018-19. It can carry forward this MAT credit upto __________ assessment years immediately succe
- The monetary limit for specified domestic transaction in order to be liable for transfer pricing provision should exceed, in aggregate, in a year:
- Tom (P) Ltd. availed the services of a foreign company for online advertisement of its products. It has to pay a levy @__________% of the gross amount paid/payable to the foreign c
- Kadam sold a vacant land for ₹15 lakh on 20th March, 2019. The indexed cost of acquisition of the land is ₹12,00,000. He received ₹3 lakh being part of the sales consideration in c
- When an Indian company holds 30% of the nominal value of equity capital of a foreign company, the amount of dividend received from the foreign company in the hands of Indian compan
- The secondary adjustment in certain international transaction is required to be made when the amount of primary adjustment exceeds:
- The total income of Ram is ₹4,90,000 and due date of filing the return of income for A.Y. 2019-20 is 31st July, 2019. The return by Ram shall be filed on 20th September, 2019. The
- Notice for assessment or re-assessment of the escaped income of non-resident can not be issued to the statutory agent of the non-residential after expiry of __________ years from t
- Ashish, director of PQR Ltd. is eligible for board sitting fees of ₹10,000 for every meeting attended by him. During the year 2018-19, he had attended six meetings. The amount of t
- Advance Pricing Agreement (APA) shall be valid for a period as specified in the Advance Pricing Agreement but this period will not be for more than __________ consecutive previous
- Any payment in commutation of pension received from a pension fund setup by the Life Insurance Corporation of India in terms of section 10(23AAB) of the Income Tax Act, 1961, is:
- Find out from the following income derived from house property which is being exempt from Income Tax :
- Z an assessee incurs expenditure for acquisition of an asset in respect of which payment (or aggregate of payment made to a person in a day), otherwise than by an account payee che
- Exemption under section 54G on fulfilling of specified conditions is available on:
- Business loss can be set off from income of any other business but cannot be set off from:
- 100% deduction in respect of donations as per section 80G without any qualifying amount or limit is available in the case of :
- Alternate Minimum Tax (AMT) under section 115JC is payable by a person other than a company on the adjusted total income at the rate of:
- Dividend distribution tax by a domestic company under section 115-O shall be paid within __________ days of declaration of dividend.
- A non-resident is not required to furnish return of income under section 139(1) if his total income during the previous year consists of:
- An income tax authority referred to in section 116 of the Income Tax Act, 1961 may amend with a view to rectify any mistake apparent from the records in respect of:
- X filed his return of income for the A.Y. 2018-19 on 31st July, 2018. The return so filed was selected for scrutiny assessment. The notice under section 143(2) for making scrutiny
- Income Tax Appellete Tribunal (ITAT) as per section 254(2A) may hear and decide any appeal within a period of:
- Application to settlement commission can be made only :
- Maximum amount of penalty for failure to get accounts audited required as per section 44AB of the Act from an accountant is:
- Which one is not a method under transfer pricing for calculating Arm's Length Price (ALP) of the transactions:
- Agriculture income from agriculture land located in a foreign country is taxable in the case of:
- Decision of the GST Council will be adopted when it has the support of:
- The Compensation to States for loss of revenue on account of implementation of GST is for __________ years.
- When agriculturist supplies tobacco leaves to a factory, registered under GST, the liability to pay GST is on:
- When an unregistered dealer supplied goods to a registered dealer, the time of supply under reverse charge shall be earliest of the:
- Composition scheme is not applicable to service providers except the following:
- To avail input tax credit, which of the following factors is not relevant :
- Input tax credit cannot be availed after the expiry of __________ from the date of issue of tax invoice of supply.
- When goods are packed and transported with insurance, the supply of goods, packing materials, transport and insurance as per provisions of CGST Act, 2017, is called as:
- A service shall be a continuous supply of service agreed to be provided continuously or on recurrent basis under a contract when the period of service exceeds:
- Which of the following is not liable to be registered as per provisions of CGST Act, 2017:
- Supplier registered under composition scheme must file return within :
- When the goods are sent to job worker, input tax credit will be reversed if the goods are not received back by the principal after completion of job work within __________ of being
- Mr. Pandit is engaged in trading of gifts articles and his annual turnover will exceeds ₹200 lakh. The due date for filing annual return would be __________ of the following financ
- When a movement of goods is of more than __________ in value, the e-way bill must accompany the goods.
- A registered person of Delhi is buying and selling goods only in Delhi and Pudicherry. The applicable law for GST in his case will be :
- When the goods are dispatched to a destination which is 280 kms from the place of dispatch, the e-way bill generated is valid for:
- Which of the following goods is not exempt from GST:
- Power to declare certain activities/transactions as neither supply of goods nor of services is given in:
- Input Service Distributor (ISD) may distribute the CGST credit within the State as:
- The proper officer may cancel the GST registration, if any registered person other than a person paying tax under section 10 of CGST Act, 2017 has not furnished the returns for a c
- Goods and Services to be supplied chargeable under the CGST Act, 2017 have been classified under different specified Code Number/s which are known as Harmonized System Nomenclature
- ABC Ltd. of Mumbai supplied goods to XYZ Ltd. of Delhi under a contract for the goods to be delivered at the factory of the buyers. Goods removed from the factory of ABC Ltd. on 09
- The registered person, in case of supply of capital goods or of plant and machinery on which input tax credit (ITC) has been availed/ taken shall pay an amount equal to the Input T
- Section 24 of the CGST Act, 2017 lists categories of persons who are required to take registration even if they are not covered under section 22 of the Act. Find out from the follo
- Section 2(6) of the CGST/SGST Act, 2017 defines aggregate turnover which is being computed on all India basis excluding the taxes charged under CGST Act, SGST Act, UTGST Act and IG
- The certificate of registration issued to casual taxable person or to a non-resident taxable person shall be valid for the period specified in the application for registration or f
- The Proper Officer may make the best judgment assessment of the registered person where he fails to file general return under section 39 or final return under section 45 even after
- Refund order should be made by the Proper Officer within __________ days from the date of receipt of application which is complete in all respects and where the Proper Officer is s
- President of India gave assent to (i) Central Goods and Service Tax Act, 2017 (ii) Integrated Goods and Service Tax Act, 2017 (iii) Union Territory Goods and Service Tax Act, 2017
- Radhey & Company registered supplier paying GST under regular scheme had made Interstate Taxable Supply of ₹8,00,000 and Intrastate Taxable Supply of ₹6,00,000 chargeable under CGS
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