CS Professional Advanced Tax Laws and Practice PYQ June 2017: Question Paper and Available Answers
CS Professional
Advanced Tax Laws and Practice
PYQS Series
June 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 (June 2017). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- Explain the cases of exception under the Income Tax Act, 1961, if any from the general rule "Income earned by a person during a previous year is always taxable in the Assessment Ye
- Compute the amount of tax relief under section 91(1) and of the tax payable by the assesses, an Indian resident, aged 50 years having following incomes during the previous year 201
- Make an analysis between the purchase and taking on lease of an asset for the purpose of business by the assessee considering the Income Tax provisions and the benefits available.
- Explain the provisions contained under the Income Tax Act, 1961 relating to set-off and carry forward of: (i) Speculative Business Losses
- Explain the provisions contained under the Income Tax Act, 1961 relating to set-off and carry forward of: (ii) Short-term Capital Losses.
- How will you decide the residential status of the following companies or firms for the Previous Year 2016-17 under the provisions of Income Tax Act, 1961? Give brief reasons for yo
- How will you decide the residential status of the following companies or firms for the Previous Year 2016-17 under the provisions of Income Tax Act, 1961? Give brief reasons for yo
- How will you decide the residential status of the following companies or firms for the Previous Year 2016-17 under the provisions of Income Tax Act, 1961? Give brief reasons for yo
- How will you decide the residential status of the following companies or firms for the Previous Year 2016-17 under the provisions of Income Tax Act, 1961? Give brief reasons for yo
- How will you decide the residential status of the following companies or firms for the Previous Year 2016-17 under the provisions of Income Tax Act, 1961? Give brief reasons for yo
- Ravi Glass Ltd., a widely held company is considering for a major expansion of its activities for which an additional investment of ₹3 Crores is required. The company has following
- Distinguish and differentiate between: (a) Tax Planning and Tax Avoidance
- Distinguish and differentiate between: (b) Diversion of Income and Application of Income.
- GX Ltd. is a foreign company having business operations in India. The company has made prescribed arrangements for declaration and payment of dividends within India and paid prefer
- The profit and loss account of XYZ Ltd. for the year ended 31-3-2017 showed a net profit of ₹80,00,000 after making of the following adjustments: (a) Depreciation ₹24 lakh (includi
- XYZ Ltd., sold machinery to ABC at a price of ₹5 lacs on 18th August, 2016 which was removed from its factory at Jaipur. The rate of excise duty applicable is 12.36% on the date of
- XYZ Ltd., sold machinery to ABC at a price of ₹5 lacs on 18th August, 2016 which was removed from its factory at Jaipur. The rate of excise duty applicable is 12.36% on the date of
- XYZ Ltd., sold machinery to ABC at a price of ₹5 lacs on 18th August, 2016 which was removed from its factory at Jaipur. The rate of excise duty applicable is 12.36% on the date of
- XYZ Ltd., sold machinery to ABC at a price of ₹5 lacs on 18th August, 2016 which was removed from its factory at Jaipur. The rate of excise duty applicable is 12.36% on the date of
- Rakesh purchased goods from Ramesh for ₹4,50,000 which included amount of VAT charged at the rate of 12.5%. Rakesh after the purchases has made sales of 20% of goods to a trader in
- Hotel Samode Palace has provided the following information for the month of October, 2016: S. No. Services Provided (₹) (i) Serving of food in a restaurant with air-conditioned fac
- "An item of excisability must necessarily pass the test of marketability." Do you agree? How the marketability of excisable goods is being determined?
- What do you understand by the expressions "India" and "Indian Customs Waters" under the Customs Law? Are there any differences between "Indian territorial waters" and "Indian custo
- What do you mean by the following specific terms used within the meaning of the Customs Act, 1962: (i) Appellate tribunal
- What do you mean by the following specific terms used within the meaning of the Customs Act, 1962: (ii) Bill of entry
- What do you mean by the following specific terms used within the meaning of the Customs Act, 1962: (iii) Bill of export
- What do you mean by the following specific terms used within the meaning of the Customs Act, 1962: (iv) Smuggling
- What do you mean by the following specific terms used within the meaning of the Customs Act, 1962: (v) Proper officer.
- XYZ Ltd. a manufacturer, produced a product "A" by using raw material X on 28-2-2017. Product "A" is movable, marketable and excisable. Product "A" was issued for captive consumpti
- Rajesh Ltd., providing services in the field of advertisement provides the following information for the quarter ending 31-12-2016: (i) Sale of space for advertisement in a nationa
- Mr. Kapoor is a CS and Indian resident. He brought the following items with him while returning to India from USA: (a) Personal Effects of ₹50,000 (b) Jewellery valued at ₹25,000 (
- State with brief reasons whether the following services are taxable under the service tax net in India: (a) Services provided to the United Nations.
- State with brief reasons whether the following services are taxable under the service tax net in India: (b) Health care services.
- State with brief reasons whether the following services are taxable under the service tax net in India: (c) Trading of goods.
- State with brief reasons whether the following services are taxable under the service tax net in India: (d) Renting of residential dwelling for use as residence
- State with brief reasons whether the following services are taxable under the service tax net in India: (e) Funeral services.
- Anuska Motors Ltd., is the manufacturer of automobile parts for the vehicles. It has installed a gas turbine in the factory premises for generation of electricity which is being us
- Narrate all those books and records, list of which is to be submitted in duplicate while filing return for the first time, required to be maintained by an assessee under the servic
- GST law in India is slated to come into existence with effect from 1-7-2017. What are the various central taxes proposed to be subsumed under the GST law?
- "The case before the CESTAT can be represented by any one." Do you agree? If not, then state who is allowed to represent the case. Can a Company Secretary represent such case?
- ZX (Ayur) Ltd. manufctures herbal toothpastes at its factory located in Mysore. The maximum retail price (MRP) printed on the packet in AP & Tamil Nadu of ₹105, in Karnataka of ₹99
- A manufacturer based in Mumbai is willing to apply the MRP based valuation scheme in respect of the following excisable goods: Exports, Bulk sale/sale in wholesale pack, Package of
- Determine the assessable value for computation of Customs Duty from the following information relating to a machine imported from U.S.A. by an Indian Company: (i) Cost of machine (
- Briefly discuss, whether the following purchases are eligible for CENVAT credit as capital goods under rule 2(a) of the CCR, 2004: (i) Cool Cab Services Ltd. engaged in providing t
- Briefly discuss, whether the following purchases are eligible for CENVAT credit as capital goods under rule 2(a) of the CCR, 2004: (ii) Samar Manufacturers, engaged in the manufact
- Lalit Export House exported some goods to Germany. The invoice value of the goods exported of ₹45,00,000 was assessed by the customs appraiser at ₹50,00,000. The shipping bill was
- Examine the validity of the following statements and give brief reasons for your answer: (i) Central Government is empowered to make laws in respect of excise duty leviable on liqu
- Examine the validity of the following statements and give brief reasons for your answer: (ii) Taxes on intra-state sale or purchase of goods are covered under entry 92A of Union Li
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.