CS Professional Advanced Tax Laws and Practice PYQ June 2016: Question Paper and Available Answers
CS Professional
Advanced Tax Laws and Practice
PYQS Series
June 2016
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 (June 2016). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- A company wants to raise capital of ₹40,00,000 for a project wherefrom earnings before tax would be 30% of the capital employed. The company can raise debt finance @ 12% p.a. The f
- What is 'advance ruling'? State the procedure to obtain advance ruling.
- Comment with reasons on the taxability or otherwise of the following incomes for the year ended on 31st March, 2016 as per the Income-tax Act, 1961: Akhil, a not ordinarily residen
- Comment with reasons on the taxability or otherwise of the following incomes for the year ended on 31st March, 2016 as per the Income-tax Act, 1961: Birender, an ordinarily residen
- Comment with reasons on the taxability or otherwise of the following incomes for the year ended on 31st March, 2016 as per the Income-tax Act, 1961: Chandan, an ordinarily resident
- Comment with reasons on the taxability or otherwise of the following incomes for the year ended on 31st March, 2016 as per the Income-tax Act, 1961: Dinesh, a citizen of India, got
- Comment with reasons on the taxability or otherwise of the following incomes for the year ended on 31st March, 2016 as per the Income-tax Act, 1961: Girish, a resident, brought to
- Discuss the meaning of 'associated enterprises' as defined under section 92A.
- Mrs. Kareena, an individual resident and citizen of India, earned remuneration in foreign currency from an enterprise in foreign country during her stay in that country in the prev
- Give examples of five incomes in India which are exempt under section 10 in respect of non-residents.
- What is advance pricing agreement? State the validity period of the agreement. Also, specify the binding force of the agreement.
- From the following information, determine the tax payable under section 115-O by a domestic company on the dividend distributed by it where the rate of dividend distribution tax is
- What is an LLP? How is it different from a partnership firm ?
- Distinguish between 'tax planning' and 'tax evasion'.
- Madhur Ltd. is engaged in the manufacture of machines. It has supplied one machine to Zeal & Co. at a price of ₹8,50,000 (excluding taxes and duties) on which a cash discount @ 2%
- A material was imported by air at CIF price of US $5,000. Freight paid was US $1,500 and insurance cost was US $500. The banker realised the payment from importer at the exchange r
- Raj Ltd. of Madhya Pradesh made a total purchase of input and capital goods of ₹55,00,000 during the month of January, 2016. The following further information is available: Goods w
- The residents welfare association (RWA) of Rising Sun Housing Society in Mumbai provides the following information with respect to the various amounts received by it in the month o
- Manish provides you the following information: Particulars ₹ Royalty for providing technical know-how for manufacture of products 25,00,000 Royalty received for permanent transfer
- Apple Ltd. cleared certain goods to Peaches Ltd. paying higher rate of excise duty in the month of March, although the rate of duty on the said goods had been reduced in the budget
- Bleak Ltd. imported super kerosene oil (SKO) and stored it in a private warehouse. An ex-bond bill of entry for home consumption was filed and duty was paid as per the rate prevale
- Indian Coffee Co-operative Society Ltd. entered into agreements with a thermal company for running and maintenance of a guest house and with Lemon Ltd., for running and maintenance
- Explain 'place of removal' under section 4(3)(c) of the Central Excise Act, 1944.
- What legal action can be taken in case the retail price is not mentioned or is tampered after the removal of goods ?
- Under reverse charge mechanism, which services have been notified where service tax is jointly payable by both the service provider and service receiver?
- Clean Power Co., a 100% export oriented undertaking (100% EOU) imported DG sets and furnace oil duty-free, for setting-up captive power plant for its power requirements for export
- Mention briefly the provisions relating to date for determination of rate of central excise duty.
- What are the consequences in case the assessee fails to pay the central excise duty by the due date under Rule 8 of the Central Excise Rules, 2002 ?
- Refund of import duty is available to an importer under section 26A of the Customs Act, 1962, if the goods are found to be defective and an application for refund of duty is made b
- Specify the penalty imposable for failure to pay service tax under section 76 of the Finance Act, 1994.
- Specify the point of taxation in respect of payments pertaining to copyrights and trade marks.
- What is the proposed GST regime? Mention the State taxes and levies to be subsumed under GST.
- Briefly discuss the availability of input tax credit under VAT in respect of stock transfer.
- Mention the methods which are generally used for computation of VAT.
- Mention, with reasons, whether the following are liable to service tax A transaction in money
- Mention, with reasons, whether the following are liable to service tax A provision of service by an employee to the employer in the course of his employment.
- Mention, with reasons, whether the following are liable to service tax Fees paid to the Appellate Tribunal established under the Customs Act, 1962.
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.