CS Executive Tax Laws PYQ December 2022: Question Paper and Available Answers
CS Executive
Tax Laws
PYQS Series
December 2022
100 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Tax Laws PYQS (December 2022). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Highest Administrative Authority for Income Tax in India is:
- Hitarth who is resident and not ordinarily resident in India, earns the following income during the previous year ended 31st March, 2022: Interest on U.K. development Bonds (1/4th
- AB & Co. received ₹21,00,000 as compensation from PQ & Co. for premature termination of contract of agency. Amount so received by AB & Co. is:
- Nayak, a non-resident, residing in US since 1990, came back to India on 1st April, 2020 for permanent settlement. What will be his residential status for assessment year 2022-23?
- Which of the following lands is to be treated as urban agricultural land:
- Where yearly contribution of employee did not exceed ₹2,50,000, then amount received from recognized provident fund after five years of continuous service is:
- After serving for 28 years and 7 months in M Steels Ltd., Nitin retired on 30th September, 2021. He is covered by the Payment of Gratuity Act, 1972. The company has paid him a grat
- Ashwani is an employee of Bright Public School. His daughter, Asha is studying in the said school at concessional fees of ₹600 per month (Actual fee: ₹4,000 per month). The amount
- A member of parliament is entitled to salary, constituency allowance and daily allowance when the Parliament is in session. Which out of the following statements is correct?
- Raj an employee of the Central Government claims the benefit of lower slab rate tax under section 115BAC. His Basic Salary is ₹25,000 p.m. and entitled to ₹1,500 p.m. as entertainm
- Abhinav has three residential house properties, all of which are self-occupied, the annual value of:
- Rani received rent from a House Property in Rural Area ₹20,000 p.m. This Rent is taxable under the head of:
- Javed borrowed ₹5,00,000 @ 12% p.a. on 1st April, 2013 for construction of let out house property whose construction was completed on 15th March, 2019. The loan was repaid on 31st
- Nishit was allowed deduction of unrealized rent to the extent of ₹1,20,000 in F.Y. 2020-21, although the total unrealized rent during the F.Y. 2020-21 was ₹1,60,000. In F.Y. 2021-2
- Which of the following losses is/are not allowed as a deduction, in computing income from Business and Profession? (i) Pre-incorporation losses (ii) Capital Losses, which are dealt
- Harshit acquired following intangible assets in his business during the financial year 2021-22. (1) On 25th June, 2021 he purchased goodwill of business: Cost of acquisition ₹50 cr
- Girdhari, a retail businessman, acquired furniture on 12th May, 2021 for ₹10,000 in cash and on 18th May, 2021, for ₹35,000 and ₹40,000 by a bearer cheque and account payee cheque,
- Shyam Ltd. paid ₹6,60,00,000 during the previous year 2020-21 for acquiring the telecommunication rights which is effective for 11 years. It commenced the business of operating the
- PQR, an eligible assessee, following mercantile system of accounting, carrying on eligible business under section 44AD provides the following details: Total turnover for the financ
- Which out of the following transactions are deemed to be speculative transactions?
- XYZ a partnership firm is earning book profit of ₹5,00,000 during the financial year 2021-22. The firm paid Remuneration as per Partnership deed to working partner ₹4,50,000 and to
- Which out of the following is the capital asset?
- Suresh entered into an agreement with Ramesh for sale of a building for ₹30,00,000 in June, 2021. Suresh received advance of ₹3,00,000. Subsequently the agreement was cancelled and
- If new agricultural land purchased for which exemption was claimed u/s 54B is transferred within 3 years then.
- Purushotam has transferred 250 equity shares of TCS Ltd. (a listed company) on 1st March, 2022 @ ₹3,200 per share and paid securities transaction tax on the same. He purchased thes
- Kirti acquired a house property on 25th July, 2015 for ₹8,00,000. On 15th June, 2021 she became a partner in a partnership firm. On this day, she transferred this property to partn
- Surjeet, invested ₹22,00,000 in equity oriented mutual fund specified under section 10(23D), during the previous year 2021-22, he earned Dividend Income of ₹7,50,000 from above inv
- Vankatesh has received ₹35,000 from each of his two friends on 14th, February 2022 on the occasion of his marriage anniversary. What would be the taxability of the said sum in the
- Champa Lal (age 65 years) received interest from M.P. State Government due to late payment of compensation for compulsory acquisition of capital asset amounting to ₹12,00,000 on 17
- At the time of fixation of marriage of Yash on 10th June, 2021, his father Sunder gifted land to his would be daughter in law Rashmi. The marriage was held on 21st January, 2022. T
- Mandeep, (whose total income excluding this income is greater) has three minor daughters, whose total income are ₹4,500, ₹1,000 and ₹3,500 respectively. Total income clubbed in the
- Nishant gifted a house property valued at ₹40 lakhs to his wife, Sarita, who in turn has gifted the same to her daughter-in-law Babita. The house was let out at ₹30,000 per month t
- Brought forward loss from house property of ₹2,25,000 of A.Y. 2021-22 is allowed to be set-off against income from house property of A.Y. 2022-23 of ₹4,00,000 to the extent of:
- A partnership firm with 3 equal partners has brought forward depreciation of ₹3 lakh and business loss of ₹6 lakh relating to assessment year 2021-2022. On 1st April, 2021, one par
- Where an assessee has not exercised option u/s 115BAC, deduction under section 80EEB is allowed to an individual on account of interest payable on loan taken by him from any financ
- Adjusted GTI (Gross Total Income) for the purpose of section 80G of Income Tax Act, 1961 means ............
- Where an assessee has not exercised option u/s 115BAA, 115BAC or 115BAD, deduction u/s 80IBA, shall be allowed if the carpet area of the shops and other commercial establishments i
- Deduction u/s 80TTB of Income Tax Act, 1961, shall be allowed if the Total Income includes:
- Ayaan, aged 75 years and a resident in India, has a total income of ₹2,60,00,000, comprising long term capital gain taxable under section 112 of ₹35,00,000, long term capital gain
- XYZ Pvt. Ltd. a manufacturing company incorporated in India on 1st June, 2021. During the financial year 2021-22, it earned income from business of ₹20 lakh. The company wants to o
- The net profit as per P & L A/c of ZARA Ltd., domestic company for the year ended 31st March, 2022 is ₹210 lakh, it includes ₹15 lakh as dividend from subsidiary company and Pr
- Nirmala (age 52 years) having adjusted total income of ₹45 lakh. She has opted the provision of section 115BAC for assessment year 2022-23. The Alternate Minimum Tax is applicable
- Under the Income Tax Act, 1961, Salary received by a partner from a partnership firm is chargeable under the head of:
- Distribution of assets at the time of complete partition of HUF shall:
- M Limited a domestic company received dividend ₹12 lakh from a specified foreign company, in which it holds 33% of equity share. The dividend so received by M Limited is:
- Deepika won ₹8,500 from Rajasthan Patrika Crossword Puzzle. Determine the amount of Tax to be deducted as per section 194B of Income Tax Act, 1961.
- Raja Ltd. makes the following payments to Rani, a contractor, for work contract during the Previous Year 2021-22: ₹25,000 on 10th May, 2021 ₹22,000 on 10th August, 2021 ₹27,000 on
- Suresh died on 30th March, 2021 & his total income till this date was ₹5,55,000. Thereafter the business of Suresh was inherited by his son Kishan and his total income from suc
- The Intimation order u/s 143(1) of Income Tax Act, 1961 cannot be sent after the expiry of:
- Which of the following default is not covered under section 276CC of the Income Tax Act, 1961?
- Which out of the following options is not the correct answer relating to GST Council:
- GST on Petroleum Crude, High Diesel, Motor Spirit (commonly known as Petrol), Natural Gas and Aviation Turbine Fuel:
- XYZ Ltd., manufacturer of goods opted for composition scheme for financial year 2021-22. It supplied taxable goods of ₹70,00,000 and exempted goods of ₹10,00,000 in financial Year
- As per Schedule II of the CGST Act, 2017, Renting of immovable property for residential purpose is:
- As per Section 2(30) of CGST Act, 2017, which out of the following supply is constituted as Composite Supply?
- A registered person can claim the benefit of composition scheme for service supplied u/s 10(2A) of the CGST Act, 2017 read with notification No. 2/2019, provided his aggregate turn
- Priyanka, a registered dealer under composition scheme of Goods & Service Tax wants to withdraw composition scheme for financial year 2021-22. She should file the application i
- GST is payable in respect of services rendered to an employer by an employee on:
- The relief of not paying GST at the time of receipt of advance under forward charges is available in case of:
- Domino's Ltd. sold Pizza voucher worth ₹5,000 to its customer on 10th August, 2021, this voucher is not convertible into cash and only usable at Domino's pizza outlet within one ye
- Indigo Airlines sells various products of packed food, chocolate etc. to its passengers on board during the flights. The flight originates from Delhi, halts at Mumbai and finally l
- As per Rule 32(2)(b) of the CGST Rules, 2017, the option to determine value in relation to supply of foreign currency, including Money Changing shall be deemed to be ............ f
- There was increase in GST rate from 12% to 18% with effect from 1st January, 2022. Which of the following rate is applicable when service supplied and invoice raised after change i
- Kabir wants to start a new business of trading of footwear in Jammu & Kashmir. In order to expand his business he will also make such supplies through e-commerce operator who w
- A dealer sent some goods to another dealer for Sales on Approval Basis. In absence of any confirmation even after 6 months, it will be treated as ............ of CGST Act, 2017.
- As per Section 15(2) of CGST Act, 2017, Interest on late fees or penalty for delayed payment of any consideration for any supply ............
- As per Section 24 of CGST Act, 2017, which out of the following statements is true for a Casual Taxable Person (CTP).
- HP Ltd. is engaged in manufacture of taxable goods. Compute the ITC available for the month of October, 2021 from the following particulars: Input 'A' ₹2,30,000 out of which one in
- As per Section 17(5) of CGST Act, 2017, ITC of motor vehicles is allowed for following: (i) Vehicle used for Transportation of goods (ii) Vehicle used for Transportation of passeng
- Which one of the following is not a condition as per section 16(2) of CGST Act, 2017, to avail Input Tax Credit (ITC):
- As per Rule 36(4) of CGST Rules, 2017, the Input Tax Credit (ITC) in respect of invoices or debit notes, the details of which have not been uploaded by suppliers in GSTR-1 and not
- Determine the amount of Input tax credit admissible to PQR Ltd. in respect of the following goods procured by it in the month of January 2022: Goods used in construction of an addi
- Input Tax credit as credited in Electronic Credit ledger can be utilized for:
- X of Jaipur, registered dealer, purchased goods from Y of Kota, unregistered dealer for ₹10,00,000. He sold the same goods to Z of Kota, registered dealer, at Profit margin of 20%
- The time limit beyond which if inputs sent for job work is not returned will be treated as supply in CGST Act, 2017:
- As per Section 24 of CGST Act, 2017 which out of the following is not liable for registration under GST from the following:
- A dealer who is a resident of Manipur has business place both at Manipur and Himachal Pradesh. His taxable supply of goods in the state of Manipur is ₹12 lakh and in the state of H
- As per Rule 21 of CGST Rules, 2017, the proper officer may cancel the registration of a person who has taken voluntary registration under Section 25(3) has not commenced business w
- In case of taxable supply of services by NBFC Company, invoice shall be issued within a period of ............ from the date of supply of service.
- Dynamic Quick Response (QR) Code is applicable to suppliers who issue invoice to unregistered person exceeding:
- Rajendra is registered dealer under GST, supplied the exempted goods to his customer within state, in this case he shall issue:
- Annual return of GSTR 9 under u/s 44 of CGST Act, 2017, shall be filed by:
- The transporter starts the movement of goods on 2nd March, 2022 for destination which is 600 kms. from the place of dispatch, the e-way bill is generated is valid till:
- Which out of the following is not the type of Ledgers prescribed by the government under CGST Act, 2017:
- A dealer has an SGST Credit of ₹4 Lakh in his ITC ledger for the month of December 2021 and the same month he has CGST output Liability of ₹3 Lakh. What an amount should be deposit
- During the month of June, Tata Ltd. sold goods to Bata Ltd. for ₹4,40,000 and charged GST @ 18%. However, owing to some defect in the goods, Bata Ltd. returned some of the goods by
- The Special Audit report u/s 66 of CGST Act, 2017, is to be submitted to Assistant Commissioner normally within a period of:
- Section 56 of the CGST Act, 2017 states that if any tax ordered to be refunded under section 54 is not refunded within ............ from the date of receipt of application, interes
- Karishma Ltd. has provided following information for the month of September 2021: Intra-State taxable outward supply ₹12,00,000 Inter-State exempt outward supply ₹4,00,000 Turnover
- What is the highest approved prescribed rate under UTGST Act, 2017?
- Which of the following liability cannot be adjusted against input tax credit of UTGST?
- The Advance Ruling Authority shall comprise of:
- As per Section 7 of CGST Act, 2017, the Provisional Compensation payable to a State shall be released at the end of every ............
- GST (Compensation to States) Act, 2017 is applicable to:
- The Projected nominal growth rate of revenue subsumed for a state during the transaction period shall be ............ p.a.
- The rates of Basic Custom Duty are specified under ............
- FOB value of goods - US $ 12,000. Sea freight US $ 2,500. Cost of insurance US $ 150. Currency exchange rate 1 $ = ₹75. Assessable value will be ............
- The date of determination for the rate of duty and tariff valuation of imported goods in the case of goods entered for home consumption under section 46 of Custom Act, 1962, is the
- Which of the following is not a part of Rule 3 of "Rules of Interpretation" of the First Schedule to Customs Tariff Act?
- Javed imported computers for his office use and paid ₹4,00,000 as import duty. The computers are re-exported after being use of 13 months. The amount of allowed Duty Drawback under
How to Prepare for CS Executive Tax Laws
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.