CS Executive Tax Laws PYQ June 2024: Question Paper and Available Answers
CS Executive
Tax Laws
PYQS Series
June 2024
100 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Executive Tax Laws PYQS (June 2024). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- For A.Y. 2024-25, Mr. H, a resident Indian, earns income of ₹ 10 lakhs from sale of rubber manufactured from latex obtained from rubber plants grown by him in India and ₹ 15 lakhs
- Ms. S has three farm buildings situated in the immediate vicinity of a rural agricultural land. In the P.Y. 2023-24, she earned ₹ 3 lakh from letting out her farm building 1 for st
- Mr. Ramesh, a citizen of India, is employed in the Indian embassy in Australia. He is a non-resident for A.Y. 2024-25. He received salary and allowances in Australia from the Gover
- Mr. A stays in New Delhi. His basic salary is ₹ 20,000 p.m., D.A. (60% of which forms part of pay) is ₹ 12,000 p.m., HRA is ₹ 10,000 p.m. and he is entitled to a commission of 1% o
- Mr. J is an employee in accounts department of Bharat Ltd., a cellular company operating in the regions of eastern India. It is engaged in manufacturing of cellular devices. During
- V received ₹ 1,80,000 in May, 2023 towards recovery of unrealized rent, which was deducted from actual rent during the P.Y. 2021-22 for determining annual value. Legal expense incu
- Mr. S a wholesale supplier of dyes, provides you with the details of the following cash payments made throughout the year : 15-06-2023 : Loan repayment of ₹ 27,000 taken for busine
- A building was acquired on 1-4-1995 for ₹ 20,00,000 and sold for ₹ 80,00,000 on 1-6-23. The fair market value of the building on 1-4-2001 was ₹ 25,00,000. Its stamp duty value on t
- Mr. V received a gold ring worth ₹ 1,20,000 on the occasion of his daughter's wedding from his best friend Mr. S. Mr. S also gifted a gold chain to K, daughter of Mr. V, worth ₹ 1,
- According to section 80, no loss which has not been determined in pursuance of a return filed in accordance with the provisions of section 139(3), shall be carried forward. The exc
- Brought forward loss from house property of ₹ 3,25,000 of A.Y. 2023-24 is allowed to be set off against income from house property of A.Y. 2024-25 of ₹ 5,00,000 to the extent of :
- Mr. S made a donation of ₹ 50,000 to PM Cares Fund and ₹ 20,000 to Rajiv Gandhi Foundation by cheque. He made a cash donation of ₹ 10,000 to a public charitable trust registered un
- Mr. R (a non-resident and aged 65 years) is a retired person, earning rental income of ₹ 40,000 per month from a property located in Delhi. He is residing in Canada. Apart from ren
- Mr. D, a resident in India, has gross total income of ₹ 2,30,000 comprising of interest on saving A/c and rental income during the previous year 2023-24. He incurred expenditure of
- Income of an assessee engaged in the business of growing and manufacturing tea in India is taxable to the extent of :
- The rate of depreciation specified for intangible assets is :
- Capital assets excludes all except:
- In terms of section 2 (42A), listed securities are treated as long-term capital asset, if they are held for a period of more than :
- If X Ltd. amalgamates with Y Ltd. then the accumulated business losses and unabsorbed depreciation of X Ltd. :
- Income of a minor child from a Fixed deposit with a bank, made out of income earned from scholarship, is to be :
- A new business was established on 1-7-2023 but its operation will start from 01-09-2023, receives its 1st payment on 01-10-2023 the previous year would be the period :
- A Local Authority means:
- Which of the following persons can be ordinary resident or not ordinary resident?
- Mr. A received an educational scholarship from Government of India of ₹ 25,000. Mr. A spent ₹ 18,000 and saved ₹ 7,000. The amount of exemption under section 10(16) of the Income T
- Pension and family pension of notified gallantry award winners is :
- Mr. Coco received cash Gift of ₹ 2,00,000 on the occasion of his marriage, out of which ₹ 70,000 received from non-relative also. During the year he got prizes in the lottery for ₹
- For claiming relief under section 89(1) of Income Tax Act, 1961, it is mandatory to submit which of the following Forms :
- Who will be deemed Owner in the case of a House Property when the Husband has transferred the House Property to his wife which is necessitated owning to a separation between Husban
- A person has a long-term capital gain from the sale of long-Term Capital Asset for ₹ 80 Lakhs during the financial year 2023-24. He would like to invest all the full amount in the
- A Ltd. started its production in the year 2014 in fertilisers in India which will be used for agricultural purposes. It incurred capital expenditure in the year 2014-15 for ₹ 150 L
- Industrial company means an Indian Company where business mainly consists in the:
- Which of the following is the reason for inclusion of other person's Income in assessee's total Income ?
- Clubbing of Income of a minor child is applicable to a:
- The benefit of carry forward and set off of losses under section 79 of the Income Tax Act, 1961 by a closely held Indian Company which is a subsidiary of a foreign company as a res
- Mr. P received a Salary of ₹ 3,00,000 for the year ended 31-03-2024. He contributed ₹ 45,000 to employees recognised provident fund account and equal contribution is also done by h
- Mr. H aged 65 years of age earned the following Interest during Financial Year 2023-24. Interest on Savings Bank ₹ 25,000 Interest on FD ₹ 20,000 Interest on Time Deposit ₹ 9,000 W
- Deduction under Section 80PA is available to producer company whose turnover is less than 100 crores commencing its business after 01-04-2019, 100 percent deduction will be availab
- The deduction under section 80IAC shall be available to eligible start up (incorporated between 01-04-2016 to 01-04-2021) for a period of three consecutive assessment years out of
- Hindu Undivided Families are governed by two schools namely Mitakshara and Dayabhaga. Mitakshara school applies to whole of India except the state of:
- The Provisions of AMT (Alternate Minimum Tax) is under chapter XII-BA shall apply to an Individual or HUF or an association of persons if the adjusted total income of such persons
- A political party have the following Income during the Financial Year 2023-24 is as follows: Banks Interest ₹ 4,50,000 Rent from Letting the Building ₹ 2,50,000 Voluntary contribut
- Which of the following income of Registered Trade Union is liable to tax under the Income Tax Act, 1961 ?
- Which of the following is a company under the Income Tax Act, 1961?
- What will be the TDS deduction rate under Section 194C for a deductee (Individual) having inoperative PAN for non-linking with AADHAR?
- Where a commissioner passes a revision order u/s 263 the taxpayer may appeal against the order to :
- The assessee who is not satisfied with the order of the assessing officer can:
- The amount specified in the notice of demand under the Income Tax Act is required to be paid within __________ days, otherwise the assessee will be an assessee in default.
- Political parties are required to submit their Income Tax Return under which Form?
- During the Financial Year 2023-24 Mr. K won a lottery for ₹ 5,00,000, from this lottery income he deposited ₹ 1,50,000 in PPF. He does not have any other Income. How much tax is to
- What is the base financial year for calculation for Cost Inflation Index under Income Tax Act 1961?
- Which of the following is not kept outside the ambit of GST ?
- Mr. P is travelling from Kolkata to Andaman through flight. He watches a movie on demand on payment basis. The place of supply under GST Law will be :
- Mr. P supplies raw cotton (under Reverse Charge of GST) to Mr. Q who manufactures cotton shirts. Which will be the time of supply from the below mentioned dates ?
- What is the maximum number of characters that can be used in Invoice Number under GST for accepting in GST Portal for filing Return?
- The ITC of IGST shall first be utilised towards payment of IGST on Outward Supply. The amount remaining may be utilised towards the payment of:
- All the GST returns are to be filed online by using :
- What is the minimum monetary limit below which refund cannot be granted under the Customs Act, 1962?
- The time limit under Customs Law under section 74 for duty drawback is :
- What is the rate of interest under GST Law as per rule 37(3) in case of reversal of ITC for non-payment of consideration within 180 days ?
- RCM under GST Law is applicable in respect of:
- Which of the following is not a source of indirect taxes in India ?
- A private limited company made certain gifts to its employees as under : (i) Mr. P ₹ 60,000 (ii) Mr. Q ₹ 50,000 (iii) Mr. R ₹ 40,000 Which of the above gifts shall be liable to GST
- The supplier registered under GST as a composition dealer cannot :
- Mr. Y purchases a machine from Mr. Z (both are from Delhi) the machine however needs to be installed in Haryana, the place of supply under GST in this case shall be :
- Mr. K has supplied goods to Mr. L on 24-12-2023. The invoice had already been raised on 22-12-2023. Mr. L has paid the due amount on 29-12-2023. The receipt was entered in the book
- If a taxpayer wants to transfer CGST from the cash ledger of one GSTIN to another GSTIN under the same PAN as CGST/IGST the form required to be submitted in GST Portal is:
- A manufacturer manufacturing three different products A, B and C (GST Rates are 12%, 18% and 28% respectively) to be sold in a combined package. The price per package is ₹ 1,000 (e
- In case of Zero-Rated Supplies ITC is allowed and refund in respect of such supplies may be claimed by which of the following options:
- A registered person who is a party to any appeal or any proceedings under GST before any authority shall have to maintain the accounts pertaining to that matter for a minimum perio
- An amount of __________ is required to be paid along with the application for Advance Ruling under Customs Act, 1962.
- When the Goods are sent by one job worker to another job worker, the challan may be issued by :
- Transport of passengers by __________ are exempt from GST.
- Which of the following way demand of Interest under GST can be paid ?
- As per section 10(3) of the GST (Compensation to States) Act, 2017 __________ of the amount remaining unutilised in the fund at the end of the transition period shall be transferre
- Which section of CGST Act, 2017 deals with Composition Levy ?
- Which of the following is an Inter-State Supply?
- The compensation to state as per section 7(2) of GST (Compensation to States) Act 2017 shall be provisionally calculated and released at the end of every __________ period.
- Taxes paid under Reverse Charge mechanism are:
- Input Tax Credit (ITC) can be availed on the basis of :
- L & Co., a supplier registered under GST in Meghalaya, wants to opt for composition levy. The aggregate turnover limit for composition levy is:
- The person making inter-State supply of goods from Madhya Pradesh is compulsorily required to get registered under GST, __________ provided such goods are not notified handicraft g
- The registration certificate granted to non- resident taxable person is valid for __________ days from the effective date of registration or period specified in registration applic
- Which of the following activities shall be treated neither as supply of goods nor as supply of services ? (i) Permanent transfer of business assets where input tax credit has been
- How is the aggregate turnover calculated for determining threshold limit for registration ?
- Within how many days a person should apply for registration under GST, apart from provisions of voluntary registration ?
- What is the validity of the registration certificate granted under GST for a normal tax payer ?
- Within how many days an application for revocation of cancellation of registration can be made provided no extension to said time- limit has been granted ?
- Can a registered person under composition scheme collect GST on his outward supplies from recipients?
- 'Q' Ltd. has its registered office, under the Companies Act, 2013, in the State of Maharashtra from where it ordinarily carries on its business of taxable goods. It also has a ware
- An exempt supply includes: (i) Supply of goods or services or both which attracts Nil rate of tax (ii) Non-taxable supply (iii) Supply of goods or services or both which are wholly
- If the goods are received in lots/instalment, __________
- A supplier takes deduction of depreciation on the GST component of the cost of capital goods as per Income-Tax Act, 1961. The supplier can:
- The time of supply of service in case of reverse charge mechanism is :
- ITC on purchase of motor vehicles used for making __________ is allowed. (i) Transportation of goods (ii) Taxable supplies of transportation of passengers (iii) Taxable supplies of
- A non-resident taxable person is required to apply for registration :
- Registration certificate granted to casual taxable person or non-resident person will be valid for :
- Which of the following shall be discharged first under GST Law, while discharging liability of a taxable person ?
- Alcoholic liquor for human consumption is subjected to :
- Mr. R, a jeweller registered under GST in Mumbai, wants to sell his jewellery in a Trade Expo held in Delhi. Which of the following statements is false in his case ?
- In case of supply of goods for ₹ 5,00,000, following information is provided : Advance received on 1st April, Invoice issued on 15th April, Goods removed on 25th April, What is the
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