CS Professional Advanced Tax Laws and Practice PYQ December 2014: Question Paper and Available Answers
CS Professional
Advanced Tax Laws and Practice
PYQS Series
December 2014
34 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Professional Advanced Tax Laws and Practice PYQS (December 2014). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Virat Ltd. is a widely held company. It is currently considering a major expansion of its production facilities and the following alternatives are available: Particulars Alt-1 (₹)
- XYZ LLP has income of ₹72,00,000 under the head 'profits and gains of business or profession'. One of its business is eligible for deduction @ 100% of profits under section 80-IB f
- The book profits of a company in the previous year 2013-14 computed in accordance with section 115JB are ₹60,00,000. If the total income for the same period computed as per the pro
- Explain how the arm's length price in relation to an international transaction is computed under 'resale price method' as per rule 10B(1)(b) of the Income-tax Rules, 1962.
- What are the different forms under advance ruling ?
- Discuss the mode of determination of fair market value of Employees Stock Option, if shares are: (i) Listed in a recognised stock exchange in India
- Discuss the mode of determination of fair market value of Employees Stock Option, if shares are: (ii) Not listed in any recognised stock exchange in India.
- What are the objectives of tax planning ?
- You are the Financial Controller in a manufacturing company having turnover exceeding ₹800 crore. Write a report for your Managing Director highlighting the legal position pertaini
- You are the Financial Controller in a manufacturing company having turnover exceeding ₹800 crore. Write a report for your Managing Director highlighting the legal position pertaini
- You are the Financial Controller in a manufacturing company having turnover exceeding ₹800 crore. Write a report for your Managing Director highlighting the legal position pertaini
- You are the Financial Controller in a manufacturing company having turnover exceeding ₹800 crore. Write a report for your Managing Director highlighting the legal position pertaini
- Following information is provided in respect of manufacture of a product 'X' for the purpose of captive consumption in the same factory: ₹ Cost of direct material (includes central
- Florus Advertising Agency received the following charges during the quarter ended 31 st March, 2014, for the services rendered by it: Services rendered ₹ Sale of space for advertis
- The particulars regarding sale, purchase, etc., of Shubham Udyog for the last quarter of the year 2013-14 are as under: Particulars ₹ 1. Purchases of raw material within the State
- Uncool Ltd. is liable to pay the following amounts under the Central Excise Act, 1944: ₹ (i) Central Excise duty 24,00,000 (ii) Interest 1,50,000 Further, Uncool Ltd. is also liabl
- A consignment of 800 metric tonnes of edible oil of Malaysian origin was imported in January, 2014 by a charitable organisation in India for free distribution to below poverty line
- Keshav Cement Ltd. manufactures grey and white cement at Rajasthan. It repaired the worn-out parts of cement manufacturing plant at its workshop. During the process of repair, scra
- Swayam was the director of Om Steel Pvt. Ltd. till 16 th May, 2013. On 18 th July, 2013, Customs Authority issued notice to the former director, i.e., Swayam seeking to attach his
- The Service Tax Department issued a show cause notice in November, 2012 to Anmol Logistics Service Ltd. for demanding service tax amounting to ₹5 crore. A reply to show cause notic
- Mention with reasons where the appeal/revision application will lie against the following orders: (a) Order passed by the Commissioner of Customs (Appeals) rejecting the applicatio
- Mention with reasons where the appeal/revision application will lie against the following orders: (b) Order passed by the CESTAT disallowing the benefit of SSI Notification to a pr
- Mention with reasons where the appeal/revision application will lie against the following orders: (c) Order passed by the Commissioner of Central Excise (Appeals) rejecting the app
- Mention the situation when the imported goods are warehoused but are not deemed to be warehoused.
- Mention the maximum period for which goods are allowed to be warehoused but not deemed to be warehoused.
- What is the maximum period allowed to an importer under section 47 of the Customs Act, 1962 to pay the duty after the return of bill of entry to him ?
- Distinguish between 'exempted goods' and 'nil rated goods' under excise law.
- Specify the circumstances in which benefit of small scale exemption Notification No. 8/2003-C.E., dated 1 st March, 2003 will be available though the goods are bearing the brand na
- Mention the expenses which are to be included in the assessable value of imported goods as per Rule 10(2) of the Customs Valuation (Determination of Price of Imported Goods) Rules,
- Explain the expression 'zero rating' with reference to VAT.
- Mention the provisions of Rule 5 of the Point of Taxation Rules, 2011 relating to levy of service tax for the first time.
- Write a brief note on the need for amending the Constitution of India for introducing goods and services tax (GST) in India.
- Mention the purchases in respect of which input tax credit is not available to the purchasers under the VAT law.
- Mention the due date for payment of service tax under the Finance Act, 1994 by a partnership firm.
How to Prepare for CS Professional Advanced Tax Laws and Practice
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.