CS Executive Tax Laws PYQ June 2019: Question Paper and Available Answers
CS Executive
Tax Laws
PYQS Series
June 2019
47 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Tax Laws 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
- Ramamoorthy, an employee of M/s. Gopalkrishan & Co. of Chennai receives following payments during the previous year ended March 31, 2019. Particulars (₹) Basic Salary 40,000 Dearne
- M & Sons., a Hindu Undivided Family (HUF), had purchased a land for ₹ 1,50,000 in 2002-03. In the previous year (PY) 2006-07, a partition takes place and the coparcener, B, gets th
- A domestic company purchased its own unlisted shares on 20th August 2018 for a total consideration of INR-30,00,000 which was paid on the same day. The company has issued the same
- Discuss giving reason regarding admissibility or otherwise of the following expenditures while computing income under the head Income from Business or Profession: Expenses incurred
- Discuss giving reason regarding admissibility or otherwise of the following expenditures while computing income under the head Income from Business or Profession: Penalty paid to c
- Discuss giving reason regarding admissibility or otherwise of the following expenditures while computing income under the head Income from Business or Profession: Interest paid on
- Discuss giving reason regarding admissibility or otherwise of the following expenditures while computing income under the head Income from Business or Profession: Rent paid on daug
- Manish Garg a non-resident during AY 2018-19 came back to India on 16th July, 2018 for settling in India permanently. Now, for the Financial Year 2018-19 his status is resident and
- Y acquired a house from his father by way of gift on 5th May 2005. On this day its Fair Market Value (FMV) was ₹4,20,000. His father had purchased the house in the year 2002-03 for
- "The income earned by an assessee in a previous year is assessable for tax in the assessment year. There is no exception to it". Comment.
- When will you consider a foreign company as a resident company in India ?
- A gifted debentures of Ria Ltd., to a girl B in March, 2015. Later, B married to A's son C in March, 2017. B received interest of ₹1,40,000 from the debentures in the Previous Year
- Amrita, a resident aged 25 years, manufactures tea leaves from the tea plants, grown by her in India. Manufactured tea is sold in India for ₹40 Lakh. The cost of growing tea plant
- Indicate three situations where the Return of Income has to be compulsorily filed under section 139(1) of the Income Tax Act, 1961.
- Shobhit Goel, aged 32 years, furnishes the following details of his total income for the Assessment Year 2019-20: Income from Salaries (after allowing eligible standard deduction)
- Shashi Bhushan has submitted details of the following income/loss as computed below, for the previous year 2018-19: Loss from let out house property 2,50,000 Loss from non-speculat
- State whether quoting of PAN in the following transaction is mandatory or not, as per the provisions of Income Tax Act, 1961 for A.Y. 2019-20: A makes payment to Hotel Radisson Ahm
- State whether quoting of PAN in the following transaction is mandatory or not, as per the provisions of Income Tax Act, 1961 for A.Y. 2019-20: Asbhishek, in a single transaction ma
- State whether quoting of PAN in the following transaction is mandatory or not, as per the provisions of Income Tax Act, 1961 for A.Y. 2019-20: Payment to Mutual Funds of ₹70,000 fo
- Briefly mention the concept of Self-Assessment tax u/s 140A of the Income Tax Act 1961 and its components.
- Nisha, a resident of India owns a house property at Karnal in Haryana. The municipal value of the property is ₹7,50,000, fair rent of the property is ₹6,30,000 and standard rent is
- The Assessing officer has the power to make an assessment to the best of his judgment, in certain situations. What are they?
- Explain the quantum of late fees under section 234 F for delay in furnishing return of income within the prescribed time limit under section 139(1) for A.Y. 2019-20.
- Discuss whether the following payments are subject to Tax Deducted at Source (TDS). If so, find out the amount of tax to be deducted at source: Payment of ₹4,00,000 to a resident c
- Discuss whether the following payments are subject to Tax Deducted at Source (TDS). If so, find out the amount of tax to be deducted at source: LIC of India makes a payment of ₹6,0
- Discuss whether the following payments are subject to Tax Deducted at Source (TDS). If so, find out the amount of tax to be deducted at source: Payment of winning from lottery ₹2,0
- Who is liable to pay advance tax? Who are exempted from payment of advance tax ?
- Mention any four products which are kept outside the preview of Goods and Services Tax. Are they exempt from any tax ?
- Determine the place of supply of goods/services in the following cases as per the provisions of the Integrated Goods and Services Tax (IGST) Act, 2017: X Ltd., of Mumbai assembles
- Determine the place of supply of goods/services in the following cases as per the provisions of the Integrated Goods and Services Tax (IGST) Act, 2017: JJ Paints Ltd., exported pai
- Determine the place of supply of goods/services in the following cases as per the provisions of the Integrated Goods and Services Tax (IGST) Act, 2017: HRD Ltd., Hyderabad provides
- Determine the place of supply of goods/services in the following cases as per the provisions of the Integrated Goods and Services Tax (IGST) Act, 2017: Y of Rajasthan sells car to
- SS Ltd., a registered person under GST, is manufacturing taxable goods. The company supplies following information relating to GST paid on purchases made and input services availed
- Whether the supplier in the following cases is eligible for composition scheme: X is an interior decorator and is registered in Punjab. His gross receipts in the preceding financia
- Whether the supplier in the following cases is eligible for composition scheme: A registered dealer in Haryana supplies goods to its neighbouring states along with intrastate suppl
- Mention due date and the purpose behind filing GSTR-2, GSTR-3 GSTR-4 and GSTR-10.
- Explain briefly safeguard duty levied under Customs Act, 1962.
- What are the provisions of interest on delayed refunds under CGST Act 2017?
- State the persons who are not liable for registration as per provisions of Section 23 of Central Goods and Services Act, 2017.
- Write a short note on social welfare surcharge under Customs Act 1962.
- Distinguish between Basic custom duty and Additional custom duty or Countervailing duty.
- A, a supplier of goods, pays GST under regular scheme. He is not eligible for any threshold exemption. He has made the following outward/inward taxable supplies in a tax period: Sr
- PQ Ltd. a manufacturer of taxable goods provides the following information regarding inward supplies for the month of September, 2018: Sr. No. Items GST Paid (₹) 1. Input A (one in
- Discuss valuation rules under section 14 of the Customs Act, 1962. In this context discuss method of valuation on the basis of identical goods and similar goods.
- Compute the amount of Input Tax Credit available to GK Ltd. in respect of the following items procured by it in April, 2018: GST Paid (₹) Pollution control equipments used in the f
- UPS Ltd. of Hyderabad supplied a power generator to TK Tyres Ltd., of Tamil Nadu and charged the following amounts to the supply: ₹ Price of generator before taxes and cash discoun
- ABC Ltd. India imported a machine from Smith Corporation USA for inhouse use in the factory. The price of the machine as per the original agreement was 15,000 USD and the machine w
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