CS Executive Tax Laws PYQ December 2018: Question Paper and Available Answers

CS Executive Tax Laws PYQS Series December 2018 59 Questions Indexed

ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Tax Laws PYQS (December 2018). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.

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Indexed questions

State which of the following is a taxable allowance and the quantum of allowance liable to tax in the hands of salaried employees: Tiffin allowance given by a company to employees
State which of the following is a taxable allowance and the quantum of allowance liable to tax in the hands of salaried employees: Non-practice allowance ₹ 5,000 per month given by
State which of the following is a taxable allowance and the quantum of allowance liable to tax in the hands of salaried employees: Transport allowance given by a company (home to o
State which of the following is a taxable allowance and the quantum of allowance liable to tax in the hands of salaried employees: Leave travel allowance ₹ 10,000 (fixed) given eve
State how the following incomes will be chargeable to tax and if taxable, also the head of income: Mr. Balu, employed in a private company, let out a vacant land to X & Co. LLP for
State how the following incomes will be chargeable to tax and if taxable, also the head of income: A professor in an engineering college, earning income by way of examinership fee
State how the following incomes will be chargeable to tax and if taxable, also the head of income: Salary received by a Member of Parliament.
State how the following incomes will be chargeable to tax and if taxable, also the head of income: Salary received by a person as working partner in a partnership firm.
XYZ Pvt. Ltd. furnishes the following information relating to its two business units, one located in Special Economic Zone (SEZ) and other located in Domestic Tariff Area (DTA) for
Mr. Ramseshan, General Manager of Gee Co. Ltd., retired on 31st October, 2017, after rendering service for 29 years and 8 months. His monthly salary break up are: (i) Basic salary
Give answer as per provisions contained under the Income-tax Act, 1961 in respect of each of the following questions for the assessment year as 2018-19: [Only the end answer is nee
Give answer as per provisions contained under the Income-tax Act, 1961 in respect of each of the following questions for the assessment year as 2018-19: [Only the end answer is nee
Give answer as per provisions contained under the Income-tax Act, 1961 in respect of each of the following questions for the assessment year as 2018-19: [Only the end answer is nee
Give answer as per provisions contained under the Income-tax Act, 1961 in respect of each of the following questions for the assessment year as 2018-19: [Only the end answer is nee
Distinguish between exemptions, deductions and rebate under the Income-tax Act, 1961.
Suresh Raina (age 38), a resident individual, has total income computed at ₹ 50,86,000. He wants to know his income-tax liability for the assessment year 2018-19. Compute his net t
State with brief reasons whether the following losses sustained during the year while carrying a business be allowable while computing the income under the head "Profits and gains
State with brief reasons whether the following losses sustained during the year while carrying a business be allowable while computing the income under the head "Profits and gains
State with brief reasons whether the following losses sustained during the year while carrying a business be allowable while computing the income under the head "Profits and gains
Vinod Kapoor gifted ₹ 8,00,000 to his wife Sunita Kapoor on 15th May, 2017. The amount of gift of ₹ 8,00,000 was invested by his wife in debentures of a company on 1st June, 2017 e
Mohan is sales manager of Khan Co Ltd., at Mumbai. He furnishes you the following details for the year ended 31st March, 2018: Basic salary up to 31st August, 2017 ₹50,000 per mont
Ms. Padmaja, aged 42, a resident individual, sold her residential house for ₹ 55 lakh to Robert on 1st July, 2017. The value of land for stamp duty purposes was ₹ 65 lakh. The land
Alok is employed in BCD Co. Ltd. as Finance Manager. The employer transferred the following assets to him on 15th April, 2017: Computer acquired by the employer in April, 2016 for
Alok is employed in BCD Co. Ltd. as Finance Manager. The employer transferred the following assets to him on 15th April, 2017: Motor car acquired by the employer for ₹6 lakh in Jul
Alok is employed in BCD Co. Ltd. as Finance Manager. The employer transferred the following assets to him on 15th April, 2017: Furniture items acquired by the employer for ₹2 lakh
PQR & Co. is a partnership firm consisting of 4 partners. The firm did a turnover of ₹305 lakh and derived Net Profit (as per Profit and Loss Account) of ₹15,20,000 before adjustme
State the rate of tax deductible or collectible at source under the provisions of the Income-tax Act, 1961 in respect of the following transactions: Sale of scrap by a manufacturin
State the rate of tax deductible or collectible at source under the provisions of the Income-tax Act, 1961 in respect of the following transactions: Sale of motor car by an authori
State the rate of tax deductible or collectible at source under the provisions of the Income-tax Act, 1961 in respect of the following transactions: Monthly rent paid by a partners
State the rate of tax deductible or collectible at source under the provisions of the Income-tax Act, 1961 in respect of the following transactions: Commission paid by a company fo
State the rate of tax deductible or collectible at source under the provisions of the Income-tax Act, 1961 in respect of the following transactions: Interest paid by Lalwani & Co.
State the different models of GST and the model which is followed in India.
State any four activities which are neither treated as supply of goods, nor supply of services, under the GST law.
Determine which of the following is inter-State supply or intra-State supply, and state whether CGST/SGST/IGST will apply: (with reasons) Supply of goods to A & Co., Surat from a u
Determine which of the following is inter-State supply or intra-State supply, and state whether CGST/SGST/IGST will apply: (with reasons) Export of garments from Bengaluru to Swede
State the legal position under the Customs Act, 1962 in respect of the following: Penalty for import of unaccounted goods;
State the legal position under the Customs Act, 1962 in respect of the following: Time limit for filing application for refund of import duty;
State the legal position under the Customs Act, 1962 in respect of the following: Criminal liability by way of maximum imprisonment for offences;
State the legal position under the Customs Act, 1962 in respect of the following: Akin principle.
Explain in brief, how the imports and/or exports will be taxed under the GST law and whether any set off will be available as Import Tax Credit (ITC) of the IGST paid on such impor
State with brief reasons whether the following are to be treated as supply of goods/services, as per GST law: Transfer of business as a going concern.
State with brief reasons whether the following are to be treated as supply of goods/services, as per GST law: Renting of immovable property.
State with brief reasons whether the following are to be treated as supply of goods/services, as per GST law: Permitting use of intellectual property right.
Subsequent to the grant of registration under the GST law, can the proper Officer conduct physical verification of the place of business ?
Explain the concept of "zero rated supply" and refund claim therefor, under IGST.
Explain the meaning, with distinctive features as per the CGST Act, 2017, relating to Composite Supply and Mixed Supply.
Nisha Enterprises had made supplies of ₹9,00,000 to D.K. Enterprises on which a tax of ₹90,000 was levied by Municipal Authorities. The CGST and SGST chargeable on the supply @ 5%
Ram & Shyam LLP, engaged in the business of manufacturing of domestic use electrical items, provides the following details relating to the amount of GST paid on various items and a
Examine the following independent cases of supply of goods and services, and state in each of the cases, when should a tax invoice be issued by the person making supplies, as per t
Examine the following independent cases of supply of goods and services, and state in each of the cases, when should a tax invoice be issued by the person making supplies, as per t
Examine the following independent cases of supply of goods and services, and state in each of the cases, when should a tax invoice be issued by the person making supplies, as per t
State when a registration granted under the CGST Act, 2017 to a taxable person can be cancelled and what should be done by such person after cancellation of registration in the ele
Explain the meaning of the term "Pure agent" for CGST purposes.
Explain the meaning as being assigned under the Customs Act, 1962 to the term "Foreign going Vessel/Aircraft".
True Sai Cars Pvt. Ltd., Tamil Nadu is a dealer in cars. They import cars from abroad and sell it to customers in India. On 20th March, 2018, they have imported cars from Japan, as
Samodia Trading Company, a registered supplier, is liable to pay GST under forward charge mechanism. Determine the time of supply from the following information furnished by the fi
Sun Trading Company, an eligible registered dealer in goods making intra-State supplies within the State of Rajasthan has reported an aggregate turnover of ₹ 75 lakh in the precedi
Sun Trading Company, an eligible registered dealer in goods making intra-State supplies within the State of Rajasthan has reported an aggregate turnover of ₹ 75 lakh in the precedi
State the time limit for carry forward and set off of loss in the following cases: (i) Loss from speculation business; (ii) Loss under the head "Capital gains"; (iii) Loss under th

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