CS Executive Tax Laws PYQ June 2022: Question Paper and Available Answers

CS Executive Tax Laws PYQS Series June 2022 100 Questions Indexed

ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Tax Laws PYQS (June 2022). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.

Open Interactive Practice Mode View Chapter Weightage Analysis Download PDF Question Papers

Indexed questions

An employer provided free refreshment to his employee for which he incurred an amount of ₹80 per such refreshment. State the amount which is treated as a perquisite for the employe
Lalit presents you following details related to his tax liability for Assessment Year 2022-23: Tax liability as per section 115JC ₹18 lakhs Tax liability as per regular provision o
Ram, aged 45 years received 12 instalments of amount of ₹42,000 on the basis of reverse mortgage scheme during the financial year 2021-22. Compute the amount of tax in the hands of
As per section 2(1B) of the Income Tax Act, 1961, which out of the following is not a requirement for amalgamation of two companies :
The benefit of payment of advance tax in one instalment on or before 15th March is available to assessees computing profits on presumptive basis :
Satish aged 45 years is having a house property at Hyderabad. The municipal valuation is ₹12,50,000 and fair rent of the property is ₹11,00,000. The standard rent is ₹11,50,000. He
State which out of the following perquisite is exempt as per section 115BAC of the Income Tax Act, 1961 for the Assessment Year 2022-23:
Sarad is a Karta of HUF doing business at Delhi. Sarad is residing in USA for past 6 years and he visited India for 30 days every year for filing income tax return of HUF. His 3 so
A HUF is having total income of ₹22,50,000 for the previous year ended 31st March, 2022. Compute the net tax liability of HUF if it opts for section 115BAC for the Assessment Year
Kavi got the following incomes for the Financial Year 2021-22: (i) Income derived from saplings grown in the nursery amounting to ₹5 lakh (ii) Income derived from removing the hay
As per section 12A of Income Tax Act, 1961, trust or institution has been granted registration under section 12AA, and, subsequently, it has adopted or undertaken modifications of
Section 2(22)(e) of Income Tax Act, 1961, which deems certain payments as dividend, is applicable only to the shareholders of __________.
Srithan grows tomatoes and he uses them for the purpose of manufacturing tomato ketchup in his factory. 60% of tomatoes produced is sold for ₹5,00,000 and cost of cultivation is ₹3
The Total Income tax including education cess payable in case of resident individual aged 49 years, where computed total income is ₹3,80,000 for the Assessment Year 2022-23 shall b
ABC charitable trust would like to accumulate the income for the purpose of construction of school building in coming three years and therefore set apart ₹20 Lacs out of current ye
The time limit for issue of notice u/s 148, when income in relation to any asset worth ₹80 lacs located outside India, chargeable to tax has escaped assessment is from the end of t
The due date specified u/s 139(1) for filing the return of income in case of companies engaged in international transactions and who have to furnish a report u/s 92 E is :
As per section 2(22A) of the Income Tax Act, 1961, Domestic Company means : (i) An Indian Company or (ii) any other Company (iii) which makes the prescribed arrangements for the de
As per section 13B of the Income Tax Act, 1961, the voluntary contributions received by an electoral trust during the year is not included in its income :
Following are the income of Sudha for the Previous Year 2021-22: (i) Dividend from foreign company received in Tokyo ₹96,000 (ii) Profit earned from business in Indonesia which is
As per section 115JB inserted vide Finance Act, 2016, where the assessee is a unit located in an International Financial Services Centre and derives its income solely in convertibl
The Assessing Officer while scrutinizing the return of an assessee find under reporting of income for the reason of misreporting of facts of such income and thus levied penalty on
Sri transferred his residential property to his wife by way of a gift settlement. During the financial year 2021-22, his wife got a rental income of ₹25,000 p.m. She made a fixed d
A non-professional firm ABC and Co. has book profit of ₹12,38,000 in previous year 2021-22. The admissible remuneration to working partner for income tax purpose shall be _________
Rajesh pays a rent of ₹8,000 p.m. His total income is ₹6,00,000 for the financial year 2021-22 (i.e., Gross total income is reduced by deduction under chapter VIA except section 80
Raman holds 30% of shares in RS Limited. His Spouse is a software engineer. Now Mrs. Raman is drawing a remuneration of ₹50,000 per month (1st April, 2021 to 31st March, 22) from R
Personal earning including income from self-acquired property of a member of the HUF is included in the income of :
The liability to pay interest u/s 234B would arise when the advance tax plus TDS/TCS to the credit of the assessee is less than :
As per section 271G of the Income Tax Act, 1961, when an assessee fails to furnish any information relating to a specified domestic transaction; the quantum of penalty as a percent
Which out of the following incomes is exempt u/s 10(6) of the Income Tax Act, 1961 in the hands of an individual who is not a citizen of India : (i) Salary received by a Non-Reside
The family of deceased employee is receiving a pension of ₹12,000 p.m. from the employer in financial year 2021-22. Compute the income to be chargeable in the hands of family membe
DG & Co. of USA is maintaining and operating a branch in India for sale of its textile products. The adjusted total income of the branch for the previous year 2021-22 prior to
Which of the following returns can be revised under section 139(5) of Income Tax Act, 1961 ? (i) A return of income filed u/s 139(1) (ii) A belated return of income filed u/s 139(4
A tax payer (an assessee) wants to prefer an appeal against the order of the Assessing Officer. He received the order dated 28th August, 2021 on 8th September, 2021. He must file a
Urvish is engaged in the business of growing the coffee in India. He derived an income from sale of coffee grown, cured, roasted and grounded. Determine to what extent his income w
Sanghvi purchased her first house at Vijayawada for occupation on 10th June, 2020 for ₹80 Lakhs (stamp duty value being the same) with bank loan sanctioned on 1st June, 2020 she pa
Bhuvana transferred the rental income of ₹1,20,000 p.m. to Sneha during the previous year 2021-22 but she did not transfer the property in the name of Sneha. As per provision of th
The requirement of granting the assessee a reasonable opportunity of being heard u/s 127(1) of the Income Tax Act, 1961 is in __________ nature.
The rate of depreciation for fluidized bed type heat treatment furnaces is:
Ganesh incurred short term capital loss of ₹80,000 on sale of shares during the previous year 2021-22 through the national stock exchange. Such loss can be :
Gyaan charitable trust owns a capital asset of ₹5,00,000 and 3/4th of the income from such asset is utilized for charitable purpose. The asset was sold for ₹12 lakhs and from the s
Priya, (Non-Government Employee) an employee of S Ltd. have received the amount of retrenchment compensation as she is going out of the company due to the retrenchment process. The
PQR, an eligible assessee, following mercantile system of accounting, carrying on eligible business under sec 44AD provides the following details. Total turnover for the financial
Sudha has to pay ₹1,20,000 to the co-operative society annually against the house allotted to her by society. She initially paid a sum of ₹3,00,000 to become a member of the housin
Deduction u/s 80C in respect of life insurance premium is restricted to __________ of capital sum assured in respect of policies issued on before 31st March, 2012 and __________ of
B (Non-Government Employee) stays at Delhi received a basic of ₹60,000 p.m. and dearness allowance ₹3,000 p.m. (forming part of salary) and he is also given a rent-free furnished h
Santhi sold a vacant land for ₹2 crores on 18th June, 2021. The cost of acquisition of land was ₹25 lakhs in the year 2009-10. She deposited 90 lakhs in RECL bonds in October 2021.
Sirish's father is dependent on him and suffering with 90% disability. Sirish has incurred an amount of ₹98,000 during the financial year 2021-22 in maintaining and on medical trea
Santa, aged 50 years, provides the following details for P.Y. 2021-22. Fabric business income ₹36 lakhs Speculative business loss ₹9 lakhs Fabric business loss ₹12 lakhs Income of
Where it is not clear as to whom amongst the two persons has received the income, the Assessing Officer can commence proceedings against both the assessees to determine the questio
Can the taxable person under Composition Scheme claim input tax credit ?
When can a registration be liable to cancellation : (i) If the person does not conduct business from the declared place of business (ii) Violates the provision of Rule 86 B (iii) N
As per section 16 of IGST Act, "Zero Rated Supply" includes : (i) Export of goods or services or both (ii) Supply of goods or services or both to SEZ developer (iii) Supply of good
......... and ......... are the two Union Territories at which UTGST Act, 2017 is not applicable ?
As per Rule 50 of CGST Rules, 2017, the receipt voucher must contain:
Bharath Ltd is engaged in making Sweets. The Company on Diwali, distributed the same sweets to its employees. Can the company claim ITC in respect to the inputs used in making such
Unless and until notified by the Central Government on the recommendation of the Council, CGST or IGST or UTGST shall not be levied on the following supplies: (i) Petroleum Crude a
As per Section 17 of CGST Act, 2017, for banking companies using inputs and input services partly for taxable supplies and partly for exempt supplies, which of the following statem
A is an Air Travel agent. He collected ₹50,000 (Basic fare domestic booking) and ₹1,00,000 (Basic fare for International Booking). As per Rule 32 of CGST Rules, 2017, the value of
The First Country to implement Goods & Services Tax was ......... in early as .........
What is the time of supply of goods, in case of supplier opting for composition levy under section 10 of the CGST Act, 2017?
What should be the treatment of tax element in a capital asset under CGST Act, 2017?
The IGST (Integrated Goods and Services) Act, 2017 deals with: (i) Inter-State Supplies (ii) Import into India (iii) Supplies made outside India
As per section 25 of CGST Act, 2017, when employer gifts goods or services to his employees, it will not be considered as taxable supply for the purpose of GST; if the value of sup
Srikar of Hyderabad, purchased goods for ₹12,00,000 from Arnav of Mumbai and hold the goods at the location of supplier at Delhi. Which shall be the place of supply in such a case
The ISD Mechanism is based on the concept of ............
Balance in electronic credit ledger under IGST can be used against which liability :
In case of exports and supplies to SEZS, no tax is payable. In these cases on the inputs used:
Which of the following is not considered as deemed supply under CGST Act, 2017?
Center Provide Compensation to the states for loss of revenue arising on account of implementation of the goods and service tax for a period of ............
In which out of the following states/UTs, the threshold limit is ₹20 lakhs instead of ₹10 Lakhs (Supplies of Goods and Services), as per section 22(1) of CGST Act, 2017:
As per section 5 of IGST Act, 2017, the payment of tax by electronic commerce operator (ECO) who does not have physical presence in taxable territory in India be made by ..........
IGST paid is available as credit as in order to set off against the payment of ............ on output supplies.
A goods and service tax practitioner can undertake the following activities, if authorized by the taxable person : (i) Furnish details of inward and outward supplies (ii) Furnish m
The ITC as self-assessed in the return of a registered person shall be credited to:
As per Rule 31A of CGST Rules, 2017, what shall be the value of supply in case of lottery run by the state government :
Which out of following state passed first State GST bill in India :
Which out of the following statements is TRUE regarding Composition Scheme in CGST Act, 2017:
Assessable Value (A. V.) = ₹6 lakh (i) BCD - 10% (ii) IGST - 12% (iii) Social Welfare Surcharge @ 10% Calculate the total amount of duties and taxes:
As per Schedule I of the CGST Act, 2017 any kind of disposal or transfer of business assets made by an entity on permanent basis qualifies as supply, even though it is without cons
Tanishqa of Delhi provides repair and maintenance services of machinery to Harika in Goa. Harika was registered in Orissa. What shall be the place of supply in respect of repair an
As per section 16 of CGST Act, 2017, whether credit on inputs can be availed based on receipt of documents and or on receipt of goods :
Which of the following is not covered under section 24 of CGST Act, 2017, for compulsory registration :
What is the objective behind the levy of Cess through GST (Compensation to States) Act, 2017:
DSR Ltd. is a manufacturer of food products supplied in a package consisting of chocolates (GST Rate 12%), cakes (GST rate 18%) and sweets (GST Rate 28%). The price per package is
In case of compulsory registration under CGST Act, 2017, input tax credit can be availed on:
Under section 15 of UTGST Act, 2017, who is empowered to constitute Authority for Advance Ruling:
In respect of which item mentioned below, the provisions of CGST Act, 2017 are NOT applicable as the related provisions are given in UTGST Act, 2017 itself?
Rule 30 of the CGST Rules, 2017, inter alia provides value of supply of goods or services or both based on cost shall be ......... % of cost of production or manufacture or the cos
Sathvik has received the goods in 5 lots in respect of a single invoice. Which of the following is in accordance with the first proviso to section 16(2) of CGST Act, 2017:
Maximum validity period of certificate of registration issued to a Casual Taxable person and Non-Resident Taxable person as per section 27 of the CGST Act, 2017 is:
The Integrated Tax, collected by the Central Government is :
The liability to pay GST would depend on the mechanism the transaction aligns to the supplier who is registered with GST, issues a tax invoice, collects the GST and pays it to the
Shakthi limited purchases an aircraft for the purpose of transportation of goods manufactured by it. ITC shall be ............ for the GST paid on the aircraft.
Principal entitled for input tax credit on capital goods sent for job work in CGST Act, 2017:
For refund of import duty paid, the refund application must be filed:
Which amongst the following is not true about private bonded warehouse:
Determine the rate of drawback, if period between date of clearance for home consumption and the date when the goods are placed under Customer Control for export more than 6 months
The application by exporter to customs officer for clearance of goods for exportation is known as:
When the goods consist of more than one material or substance, then the heading which provides the most specific description shall be preferred to headings providing a mere general

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.