CS Executive Tax Laws PYQ December 2023: Question Paper and Available Answers
CS Executive
Tax Laws
PYQS Series
December 2023
100 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Tax Laws PYQS (December 2023). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Amar, a resident but not ordinarily resident in India, earned the following incomes during the previous year 2022-23: (i) Capital gain of ₹5,00,000 on sale of a building located in
- A deduction of ₹1,00,000 towards unrealised rent was allowed to Z, being the owner of a house in the Assessment year 2018-19. Z sold the house on 14th January, 2020 and subsequentl
- Section 2(24) of the Income Tax Act, 1961 defines income as it is:
- An Individual to be an Ordinary Resident must satisfy the conditions in Section 6(6) of the Income Tax Act, 1961. What are they?
- The effective rate of tax on winning from lotteries under Section 115BB is:
- Albert aged 75 years mortgages his property with Housing Finance Corporation under "Reverse Mortgage Scheme". During the Financial Year 2022-23 he received ₹30,000 p.m. from the mo
- Which of the following Incomes of a Political Party is exempt from Income Tax under Section 13A of the Income Tax Act?
- Partial Integration of Agricultural Income with Non-Agricultural Income arises when both Incomes in case of Senior Citizen are as follows:
- Exemption U/S 10(48C) of the Income Tax Act, 1961 is available to:
- From the following in which case, Employer-Employee relationship exists and therefore the Income is taxable under the head "Income from Salary"?
- As per Section 10(14) of the Income Tax Act read with Rule 2BB of the Income tax Rules, the extent to which Compensatory Modified Field Area Allowance is exempt:
- Leave encashment at the time of retirement of an employee is exempted for Government Employee under Section 10(10AA). Here Government Employee means:
- Professional Tax if paid by the Employer on behalf of employee is :
- Out of the following which will be deducted from GAV (Gross Annual Value) of a house property ?
- Income Computation and Disclosure Standards (ICDS) notified by the Central Government are compulsorily required to be maintained by all assessees following mercantile system of acc
- Motor buses, motor lorries and motor taxies used in a business of running them on hire acquired on or after 23.08.2019 but before 01.04.2021 and is put to use before 1.04.2021 will
- AB Ltd is in trading business. It bought out a new machinery for the purpose of its business on 15.09.2022. The additional amount of depreciation available to AB Ltd. will be :
- P Ltd an infra company issued Zero Coupon Bonds the Face value of which is ₹5,00,000 for ₹3,60,000 which will be matured after 4 years. What will be the deduction p.a. be available
- Mr. X sold a building for ₹5,00,000 as part of his business. The stamp duty authority valued that building for ₹5,20,000. The valuation officer determines the value for ₹5,70,000.
- What is the Cost Inflation Index for Financial Year 2022-23?
- AB Ltd has a building purchased on 12.03.2009 and that building was used for the company's business. The WDV of the building was ₹45,250 (Depreciation rate 10%) and sold for ₹1,10,
- Section 50C of the Income Tax Act makes a Special Provision for determining the full value of consideration in case of transfer of:
- Under which Section, the assessee has to reinvest the entire net consideration to claim full exemption on long term capital gains earned from transfer of long-term capital assets o
- Interest on securities shall be taxable under Income from other sources:
- Mr. Mithun employed in a Firm where he is regularly receiving consolidated salary of ₹25,000 per month during the year 2022-23 and also received family pension @ ₹15,000 p.m. durin
- A person has loss from House Property in the current year. It can be set off against Income from:
- Public Provident Fund Account can be opened by an individual for the purpose of deduction under Section 80C in the name of:
- Mr. P has interest accrued from NSC (maturity date is after two years) ₹15,600. During the current year 2022-23 he invested ₹1,00,000 and his wife invested ₹50,000 in NSC. What wil
- For claiming deduction under Section 80JJAA the assessee must obtain audit report in Form Number 10DA from a Chartered Accountant on or before the :
- Contributions made other than by way of cash by an Indian Company in the previous year to any political party shall be allowed as deduction to the extent of .......... % of contrib
- Relief under Section 89 of the Income Tax Act, 1961 is available except :
- The amount of rebate of Income tax U/S 87A of the Income Tax Act, available to a resident Individual whose total Income does not exceed ₹5,00,000 for the Financial Year 2022-23 wil
- Which of the following is a company under the Income Tax Act, 1961 for income tax purposes ?
- Section 2(22)(e) of the Income Tax Act, which deems certain payments as dividend, is applicable to the shareholders of:
- As per Section 115BBG of the Income Tax Act, where the total Income of the assessee includes any Income from the transfer of carbon credit then such income shall be taxable at a co
- Normal tax liability for a company assessee is ₹5,00,000 and tax liability under MAT is ₹8,00,000. In this case the tax payable and MAT Credit c/f will be :
- Equalization levy in case of e-commerce operators is deductible if the aggregate amount of consideration for a specified service in a previous year exceeds:
- In case of issue of shares at premium by listed companies, Share Premium is:
- The provisions of section 139AA of the Income Tax Act, 1961 shall not apply to which of the following individuals if they do not possess the Aadhaar or enrolment ID :
- Form No 12BA of Income Tax Act contains which of the following:
- What is the time limit for filing updated return of Income U/S 139(8A) of the Income Tax Act, 1961?
- Any person who has not filed a return of Income within the time allowed under Section 139(1) or within the time allowed under a notice issued under Section 142(1) may file a return
- If there is an apparent error in the intimation dated 15.06.2018 issued by the Assessing officer under section 143(1) then the time limit for filing application for rectification u
- A buyer purchases goods liable for TCS for being used in manufacturing processing. The provisions of TCS shall not apply if the buyer gives declaration in duplicate to the seller i
- An assessee who declares his income in accordance with presumptive taxation under Section 44ADA of the Income Tax Act, 1961 for Assessment Year 2023-24 is liable to pay advance tax
- Interest is payable to the assessee on the amount of refund under the Income Tax Act, 1961 where the amount to Refund is :
- After the receipt of order from Income Tax Appellate Tribunal (ITAT), the time limit for filing appeal to the High Court is:
- What is the penalty provided for under reporting and misreporting of Income respectively under the Income Tax Act, 1961?
- Advance tax is not required to be paid by:
- Mr. H has been provided with a servant by his employer whose salary is ₹5,000 p.m. Mr. H is not a specified employee. The amount taxable for the perquisite in the hands of Mr. H is
- Which of the following statements is not true in case of GST ?
- .......... was the first State in India to pass the State GST Bill.
- The important parameter that constitute supply under CGST Act is/are :
- What would be the rate of tax applicable in case of mixed supply ?
- Transactions which are outside the ambit of supply are provided in .......... of the CGST Act, 2017.
- Integrated Goods and Services Tax is payable on:
- Value of supply under Section 15(1) of the CGST Act is the :
- Mr. A is an air travel agent, has provided the following details : Basic air fair collected for domestic booking ₹5,00,000 Basic air fair collected for international booking ₹10,00
- Which of the following is treated as incidental expense under Section 15(2)(c) of the CGST Act?
- Which of the following is the Rule for residual method of determination of value of supply of goods or services or both ?
- Input tax credit (ITC) is available in respect of tax paid on:
- E-Way Bill is generated electronically in Form No. .......... on the common portal.
- E-Invoice is not mandatory in case of which of the following category of persons irrespective of their turnover ?
- If there is no business activities during the tax period, then as per the CGST Act:
- The power to make rules is given to the Central Government in .......... of the GST (Compensation to States) Act, 2017.
- The time limit for pronouncing the Advance Ruling under the Customs Act is:
- The classification of car without tyres as car is a classification according to the principles of .......... of Interpretation Rules under the Customs Tariff Act.
- In terms of Section 17(5) of CGST Act, Blocked credit means the inward supply of goods or services on which ITC :
- If a registered person has claimed depreciation on the .......... of the capital goods and plant and machinery under the provisions of the Income Tax Act, the input tax credit on t
- Transportation of .......... by a goods transport agency in a goods carriage is exempt from GST.
- When can a claim for ITC under GST be made under the reverse charge ?
- As per Article 279A who is empowered to constitute GST council:
- Which of the following State Tax have been subsumed in GST?
- The higher eligibility turnover limit of ₹1.5 Crore under composition scheme is not applicable to:
- Intimation for withdrawal from composition scheme should be informed by submitting form ..........
- Out of the following, who is not eligible for the composition scheme under the CGST Act, 2017?
- The prime purpose of place of supply is to determine:
- Mr. R is supplying only services which are exclusively taxable under RCM. The value of such supplies is ₹51,00,000. Which of the following statements is true ?
- In IGST Act a supply of service is considered as "Import of Service" when : (i) The supplier of service is located outside India (ii) The recipient of service is located in India (
- The Goods and Services Tax Network (GSTN), a special purpose vehicle, set up by the Government primarily to provide information technology infrastructure is a :
- Which of the following activities is a supply of service ?
- Actionable claims are neither products nor services, hence they are dealt by .......... of the Central Goods and Services Tax Act.
- Which of the following is a mixed supply?
- Krishnan a registered dealer in Karnataka has opted for composition scheme. He has a taxable turnover of goods for ₹20 lakhs and exempted turnover of goods for ₹15 lakhs within Kar
- Input Tax Credit can be availed on the GST paid under:
- Nathan is a resident of Chennai working in Hyderabad travelled to Cochin for business purposes and booked a ticket for an event there in Cochin performed by a team from Delhi. In t
- In case of goods supplied on "approval for sale/return basis", the due date for issue of invoice is:
- AVM Sounds Ltd. entered into a contract to purchase the copyright of a music album of Priyam, a music composer. The composer finished the work and gave the CD to the music company
- A an advocate provided legal consultancy services to B for a consideration of ₹50,000 on 14th August, 2023. There was a change in the rate of GST from 20th August, 2023. In this ca
- Which of the following can avail of, every month, an amount equal to 50% of the eligible input tax credit on inputs, capital goods and input services of that month?
- To whom registration under CGST Act, 2017 is compulsory ? (i) P is a person making reverse charge supplies only (ii) Q is a person required to pay tax under reverse charge (iii) R,
- Tax invoice under GST may not be issued if the value of goods or services or both is less than :
- Gail Ltd. of Mumbai supply gas to Copper Ltd. In this supply the supplier is not able to ascertain the quantity at the time of removal from the place of business. In this case the
- Consignment value of goods which is used in E-Way Bill includes .......... apart from the value declared in invoice.
- Consulate or Embassy of foreign countries or any other person or class of persons notified U/S 55 of the CGST Act entitled to a refund of tax paid by it on inward supplies may make
- A general audit conducted U/S 65 of the CGST Act is required to be completed within 3 months from the date of Commencement. This period is extendable for another :
- The State Jammu and Kashmir has been divided into two Union Territories namely Jammu & Kashmir and Ladakh in 2019. After the reorganisation, the Jammu and Kashmir Goods and Ser
- The input tax credit in respect of GST compensation to States Cess on supply of goods and services shall be utilised towards the payment of:
- The important purpose of implementation of the Customs Act is to :
- Goods for customs duty levy which cannot be classified in accordance with Rules 1, 2 or 3 shall be classified under :
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