CS Professional Advanced Tax Laws and Practice PYQ December 2017: Question Paper and Available Answers
CS Professional
Advanced Tax Laws and Practice
PYQS Series
December 2017
48 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 2017). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Agricultural Income of ₹2,50,000 earned by Ms. Divita, a non resident from land in Barmer in Rajasthan.
- Amount of ₹7,00,000 withdrawn by Mr. Rajesh, a resident individual, from Public Provident Fund as per relevant rules.
- Mr. Abhiman received ₹1,30,000 on 31.03.2017 towards maturity proceeds of the insurance policy issued on 1.04.2013. The annual premium and capital sum assured are ₹23,000 and ₹1,20
- Mr. Dinesh received ₹3,60,000 as partner share of profit in the income of limited liability partnership.
- ₹2,50,000 received by Mr. Rohan from Central Government as compensation on account of disaster taken place in Uttrakhand.
- Work out the taxable income and the tax payable thereon for A.Y. 17-18 of a partnership firm engaged in retail trade business from the following particulars : (i) Net profit of ₹3,
- Specify the tax incentives for start-ups as amendments effective from 1st April, 2017 and accordingly apply in relation to the assessment year 2017-18 and subsequent assessment yea
- Discuss the deductibility or otherwise of the following expenditure incurred by Sumit Agro Industries, while computing its business income for the year ended 31.03.2017. Land & Bui
- Discuss the deductibility or otherwise of the following expenditure incurred by Sumit Agro Industries, while computing its business income for the year ended 31.03.2017. Contributi
- Discuss the deductibility or otherwise of the following expenditure incurred by Sumit Agro Industries, while computing its business income for the year ended 31.03.2017. Tax on non
- Mr. Beeta, aged 30 years, resident in India and a musician derived income of ₹5,00,000 from concerts performed outside India. Tax of ₹1,00,000 was deducted at source in the country
- State the powers exercised by the Authority for Advance Ruling under the Income Tax Act, 1961.
- Mr. Bewaja, grows sugarcane and uses the same for the purpose of manufacturing sugar in his factory. 35% of the sugarcane produce is sold for ₹20 lacs and the cost of cultivation o
- Define the term 'Mat Credit' under section 115 JAA of the Income Tax Act. And also calculate the tax payable by the company in the assessment year 2017-18, if the book profits of a
- Nadal, a professional tennis player and a non-Indian citizen during the Financial Year 2016-17 participated in India in a Tennis Tournament and won the prize money of ₹25 lacs. He
- Answer the following independent issues in the context of provisions contained under the GST Act, 2017? The different applicable rates of GST which also apply to IGST.
- Answer the following independent issues in the context of provisions contained under the GST Act, 2017? GST Council.
- Answer the following independent issues in the context of provisions contained under the GST Act, 2017? Point of Taxation.
- Answer the following independent issues in the context of provisions contained under the GST Act, 2017? SGST cannot be levied in a Union Territory and to plug this loophole, the GS
- Answer the following independent issues in the context of provisions contained under the GST Act, 2017? Name the Act and the period which provides compensation to the States for th
- Nargis Agro Traders located at Jaipur and engaged in the business as retail traders provides the following details of its purchases and sales made during the month of July, 2017: I
- A person makes an unauthorised import of goods liable to confiscation. After adjudication, Assistant Commissioner provides an option to the importer to pay fine in lieu of confisca
- From the following informations you are required to determine the Export Duty and explain your assumptions: (i) FOB Price of goods: US $120000 (ii) Shipping Bill presented electron
- What do you mean by the following specific terms used within the meaning of the customs Act, 1962: Adjudicating Authority
- What do you mean by the following specific terms used within the meaning of the customs Act, 1962: Baggage
- What do you mean by the following specific terms used within the meaning of the customs Act, 1962: Coastal goods
- What do you mean by the following specific terms used within the meaning of the customs Act, 1962: Beneficial Owner
- What do you mean by the following specific terms used within the meaning of the customs Act, 1962: Customs Area
- Narrate all those advantages which will be available to Trade because of implementation of GST.
- Explain the mechanism under the CGST Act, 2017 for claiming Input Tax Credit while making payment of Taxes.
- Miss Priya imported certain goods weighing 1000 kgs having CIF value of US $40,000. Exchange rate of 1 USD was ₹65 on the date of presentation of bill of entry. Basic customs duty
- Explain the following terms used under the Central Goods and Services Tax Act, 2017: Casual Taxable Person
- Explain the following terms used under the Central Goods and Services Tax Act, 2017: Input Service Distributor
- Explain the following terms used under the Central Goods and Services Tax Act, 2017: Manufacture
- Explain in the context of CGST Act, 2017 the following: The liability on composite and mixed supplies
- Explain in the context of CGST Act, 2017 the following: Composition levy
- Calculate the amount of duty drawback allowable under the Customs Act, 1962 in the following independent cases: Jaggi Mehta imported a car from U.K. for his personal use and paid ₹
- Calculate the amount of duty drawback allowable under the Customs Act, 1962 in the following independent cases: Meenakshi imported a music player from Dubai and paid ₹12,000 as imp
- The transitional provisions enable the existing tax payers to migrate to GST in transparent and smooth manner under the GST Act, 2017 on and from the appointed day being 1.7.2017.
- What do you understand with the term "Container" used under Customs Act, 1962?
- Bholaram imported certain goods in November, 2015 and an 'into bond' bill of entry was presented on 28th November, 2015. Assessable value was US $1,00,000. Order permitting the dep
- KRY Logistics Ltd., a steamer agent authored Import General Manifest and acted on behalf of the master of the vessel (the person-in-charge) before Customs Authorities to conduct al
- Write short notes on the following: Common Portal
- Write short notes on the following: Deemed Export
- Write short notes on the following: Taking Assistance from an Expert
- Explain the procedure of furnishing details of outward supplies and of revision for rectification of errors and omissions as per CGST Act, 2017.
- Who are required to file Annual Return under CGST Act 2017? Also explain the time limit for filing such return. Is there any requirement of furnishing of the audited annual account
- The proceedings under the CGST Act, 2017 before the authorities including the Appellate Tribunal can be attended by the "Authorized Representative". Explain who can act as an autho
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