CS Professional Advanced Tax Laws and Practice PYQ December 2015: Question Paper and Available Answers
CS Professional
Advanced Tax Laws and Practice
PYQS Series
December 2015
37 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 2015). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Jatin submits the following information relevant for the assessment year 2015-16: Short-term capital gains ₹ 1,25,000 Income from owning and maintaining race horses ₹ 20,000 Income
- From the following information, advice as to which shall be a better option, i.e., repair or replacement of machine: The cost of repair is ₹90,000 and the machine will work for 4 y
- Alfa Ltd., a domestic company purchased its own unlisted shares on 4th July, 2014. The consideration for buy-back amounting to ₹10.50 lakh was paid on the same day. The amount rece
- Ms. Alicia is a a German national working in Sinsang Ltd., in Turkey. Sinsang Ltd., neither has any office in India nor done any business in India. The company deputed Ms. Alicia t
- Narrate the provisions of the Income-tax Act, 1961, with respect to surcharge on income-tax for various types of assessees for the assessment year 2015-16.
- State the rate of deduction allowable under the Income-tax Act, 1961 while assessing income from business or profession in the following cases: (i) For acquisition and installation
- State the rate of deduction allowable under the Income-tax Act, 1961 while assessing income from business or profession in the following cases: (ii) For expenditure (revenue or cap
- State the rate of deduction allowable under the Income-tax Act, 1961 while assessing income from business or profession in the following cases: (iii) Contribution to approved scien
- State the rate of deduction allowable under the Income-tax Act, 1961 while assessing income from business or profession in the following cases: (iv) Capital expenditure (other than
- State the rate of deduction allowable under the Income-tax Act, 1961 while assessing income from business or profession in the following cases: (v) Expenditure incurred by companie
- Nitin, a resident of India has the following incomes during the previous year 2014-15: Income from textiles business in India ₹ 7,30,000 Income from garment business in Canada (wit
- What do you mean by 'transfer pricing'? Explain its importance and benefits.
- Under what circumstances an application for advance ruling will not be allowed ? Is advance ruling binding on the income-tax department? When does an advance ruling become void?
- Cost of production of a product manufactured by ABC Ltd. worked out to ₹350 per piece. Out of the total produced pieces, company sold 120 pieces @ ₹700 per piece to industrial cons
- Cost of production of a product manufactured by ABC Ltd. worked out to ₹350 per piece. Out of the total produced pieces, company sold 120 pieces @ ₹700 per piece to industrial cons
- Shyam Ltd. makes an unauthorised import of 3,000 pieces of a product CIF priced at $2 per piece by air from USA. The consignment is liable to be confiscated. The import is adjudica
- Majboot Constructions undertakes works contracts and maintains sufficient records to quantify the labour and other service charges. From the details given below, calculate the taxa
- Mahesh Engineers Ltd. removed goods from their factory at Kanpur on 20th April, 2015 for sale from their depot at Baroda. On that date, the normal transaction value of goods at Kan
- State whether the physician samples of the patentor and proprietary medicines are excisable goods despite being statutorily prohibited from being sold. Discuss briefly in the light
- With reference to section 9AA of the Customs Tariff Act, 1975, state briefly the provisions of refund of anti-dumping duty with reference to relevant case law.
- The petitioner, a charitable society is engaged in running internationally renowned schools. It allowed other schools to use its name, logo and motto and as a consideration thereof
- Bhuwan Ltd. was awarded a contract for providing repair and maintenance services in respect of an immovable property for ₹3,50,000. As per the terms of contract, the material requi
- Is assessee required to reverse the CENVAT credit availed on capital goods destroyed by fire when the insurance company reimburses the value of such capital goods inclusive of exci
- Quoting the relevant provisions of the law, state the relevant dates for determining: (a) Rate of duty, when warehoused goods are removed for home consumption.
- Quoting the relevant provisions of the law, state the relevant dates for determining: (b) Rate of duty, if the warehoused goods are not removed from the warehouse within the permis
- Who are not eligible for composition scheme under the VAT regime ?
- With reference to the Central Excise Act, 1944 and the rules thereunder, state with reasons, whether the following persons require registration or not: (i) Persons manufacturing go
- With reference to the Central Excise Act, 1944 and the rules thereunder, state with reasons, whether the following persons require registration or not: (ii) Central Government unde
- With reference to the Central Excise Act, 1944 and the rules thereunder, state with reasons, whether the following persons require registration or not: (iii) 100% export oriented u
- Write a brief note on taxpayer's identification number (TIN) for the purpose of VAT.
- XYZ Ltd., an Indian company, provides a taxable service to its other establishment in USA. Can the services provided by an establishment of a person in a taxable territory to anoth
- A show cause notice demanding customs duty was issued in case of clearance made by 100% export oriented undertaking (EOU) to domestic tariff area (DTA). Is the show cause notice de
- Explain the role of Company Secretaries under the VAT regime in India.
- Name the quarterly returns to be filed under Rule 12 of the Central Excise Rules, 2002.
- When is duty drawback prohibited under the Customs Act, 1962 ?
- "All purchases of goods meant for re-sale or manufacture of taxable goods are eligible for input tax credit." Comment.
- Comment on the applicability or otherwise of service tax, in the following cases: (i) Service provided by a private transport operator to higher secondary school in relation to tra
How to Prepare for CS Professional Advanced Tax Laws and Practice
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