CS Professional Advanced Tax Laws and Practice PYQ June 2015: Question Paper and Available Answers
CS Professional
Advanced Tax Laws and Practice
PYQS Series
June 2015
36 Questions Indexed
ICSI Examination Archive & Suggested Answers: This directory contains indexed questions from the paper for CS Professional Advanced Tax Laws and Practice PYQS (June 2015). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Amar, an individual, resident of India, receives the following payments after TDS during the previous year 2014-15: (i) Professional fees on 17.08.2014 ₹2,40,000 (ii) Professional
- Apple Industries Ltd. provides the following information for the financial year 2014-15: Net profit as per statement of profit and loss after debiting/crediting the following: ₹120
- Explain whether the benefit of exemption under section 54EC would be available in the case of 'capital gains arising on transfer of depreciable asset'.
- What are the 'specified domestic transactions' which are subject to transfer pricing provisions ?
- Comment on the following in the context of provisions contained in the Income-tax Act, 1961: The provisions of section 115JB are applicable in case of foreign companies.
- Comment on the following in the context of provisions contained in the Income-tax Act, 1961: The provisions of dividend distribution tax are applicable to an undertaking or enterpr
- Explain the meaning of 'eligible expenses' for the purposes of claiming benefit under section 35D. Also enumerate these eligible expenses.
- Tinoo Ltd. is eligible to claim deduction of ₹2 crore under section 80-IA. It has filed its return of income after the due date as specified in section 139(1). Discuss the allowabi
- Sahil sold a residential house on 15th March, 2015 to Neeraj for ₹30 lakh of which value applied by stamp valuation authority was ₹38 lakh. Sahil purchased this house in March, 200
- Sahil sold a residential house on 15th March, 2015 to Neeraj for ₹30 lakh of which value applied by stamp valuation authority was ₹38 lakh. Sahil purchased this house in March, 200
- An HUF, resident in India, has a gross total income of ₹5,40,000 for the assessment year 2015-16. It made a payment of ₹50,000 for life insurance premium of one of its members. Whe
- In the context of transfer pricing provisions in relation to international transactions, what are the factors to be considered while selecting the most appropriate method ?
- Vijay is employed with Sunder Ltd., at a monthly salary of ₹45,000. He also receives ₹15,000 per month as house rent allowance. He deposited ₹40,000 in the PPF account. He also pay
- AB Pipe Ltd. is engaged in the manufacture of water pipes. From the following details for the month of May, 2014, compute the amount of CENVAT credit available to them under the CE
- Gold Ltd. is having a manufacturing unit at Ghaziabad. During the financial year 2013-14, the value of total clearances from the unit was ₹880 lakh as per the following details: (i
- Chandu Industries Ltd. imported some goods from USA. The details of the transactions are as under: CIF value of goods: US $1,44,000 Rate of basic duty: 10% Rate of education cess:
- Chikoo Constructions Ltd. is running real estate business. Following information relates to the services provided by them from January to March, 2014: Construction of residential c
- Following information relates to purchases and sales of Kapil Ltd. for the month of September, 2014: Purchases for resale within the State ₹8,00,000 Purchases from registered deale
- Baba Ltd. is a small scale unit manufacturing plastic name plates for motor vehicles as per specifications provided to them by their customers, who are vehicle manufacturers. For t
- In a search conducted in the office premises of Zebra Ltd., large quantity of rough diamonds was recovered. It was found that these were imported without a license. After adjudicat
- Neem Infotech, while retaining the copyright with it, is selling information technology software as: (i) Shrink wrap software (ii) Multiple user/paper license; and (iii) Internet d
- Neem Infotech, while retaining the copyright with it, is selling information technology software as: (i) Shrink wrap software (ii) Multiple user/paper license; and (iii) Internet d
- Mention the time-limit within which the CENVAT credit of duty paid on inputs and service tax paid on input services can be availed under the CENVAT Credit Rules, 2004.
- Mention the circumstances under which a price less than the manufacturing cost and profit of excisable goods can be deemed to be the transaction value under section 4 of the Centra
- Mention the rates of interest payable on delayed payment of service tax under section 75 of the Finance Act, 1994.
- Discuss whether service tax is leviable on the monthly contribution collected from members to be used by residents welfare association for the purpose of making payments to the thi
- Mention the amount which is required to be deposited mandatorily before filing an appeal before the Commissioner (Appeals) and CESTAT under the Customs Act, 1962.
- Discuss the validity of the following statements with reference to the Central Excise Rules, 2002, as amended: (i) The general procedures prescribed for export under claim for reba
- Discuss the validity of the following statements with reference to the Central Excise Rules, 2002, as amended: (ii) In respect of goods received at concessional rate of duty, retur
- Discuss the validity of the following statements with reference to the Central Excise Rules, 2002, as amended: (iii) Submission of annual financial information statement in Form ER
- Earth Ltd. is located in India and holding 51% of shares of Sun Ltd. Sun Ltd. provides business auxiliary services to Earth Ltd. From the following details, determine the point of
- Explain how sales tax incentives cause problems for VAT system.
- Is the transaction value under the Customs Valuation (Determination of Value of Imported Goods) Rules, 2007, acceptable even if goods are sold to related persons? Give reasons.
- Mention the broad rates under the existing VAT regime.
- Briefly explain the concept of goods and services tax (GST).
- What do you understand by 'continuous supply of service'? Also mention the point of taxation in case of continuous supply of service.
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.