CS Professional Advanced Tax Laws and Practice PYQ June 2018: Question Paper and Available Answers
CS Professional
Advanced Tax Laws and Practice
PYQS Series
June 2018
46 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 2018). Open the source paper and available answers. Older sessions follow the syllabus and statutory provisions applicable to their examination year.
Indexed questions
- State the period of holding for considering the shares in a private limited company to be treated as long-term capital asset.
- An assessee has purchased a car for business purposes on 10th June, 2016 for ₹ 10 lakhs. This is the only asset in the block of assets. In the previous years 2016-17 and 2017-18, 2
- Vikas, a resident in India, has received dividend of ₹ 13 lakhs from A Ltd., an Indian company, on which the company has paid DDT under section 115-O of the Income-Tax Act, 1961. H
- State with brief reason, whether the following relate to tax planning, tax avoidance or tax evasion: Setting up of a liaison office in India by a foreign company, instead of a full
- State with brief reason, whether the following relate to tax planning, tax avoidance or tax evasion: Investment in bonds approved for purposes of section 54EC.
- State with brief reason, whether the following relate to tax planning, tax avoidance or tax evasion: Businessman claiming depreciation on a refrigerator purchased for residential u
- State with brief reason, whether the following relate to tax planning, tax avoidance or tax evasion: Visiting a foreign country for certain number of days to reduce the number of d
- State with brief reason, whether the following relate to tax planning, tax avoidance or tax evasion: Assessee has two residential houses. He wants to sell a vacant site purchased 6
- Explain in the context of provisions contained under the Income-Tax Act, 1961, the Income test and the Assets test with reference to passive foreign investment company.
- Shakshitha Pvt. Ltd., furnishes the following summarized position of its profit and loss account and pertinent additional information thereto, for the year ended 31-3-2018: (All am
- Answer the following questions in the context of provisions contained under the Income-Tax Act, 1961 by taking each an independent case of Advance Ruling: Applicability of advance
- Answer the following questions in the context of provisions contained under the Income-Tax Act, 1961 by taking each an independent case of Advance Ruling: When can the advance ruli
- Answer the following questions in the context of provisions contained under the Income-Tax Act, 1961 by taking each an independent case of Advance Ruling: Fees to be paid and form
- From the following particulars relating to Mrs. Sridevi for the assessment year 2018-19, compute the deduction available under Chapter VI-A of the Income-Tax Act, 1961: Gross total
- What is Advance Pricing Agreement (APA) under section 92CC of the Income-Tax Act, 1961? Discuss and explain the validity and the binding nature of APA.
- On 11.5.2017, Rama Ltd purchased its own shares having face value of ₹ 10. Amount offered to shareholders was ₹ 80 per share. Total amount distributed by Rama Ltd on buy back of 15
- Bharani Exports Ltd (BEL), has a SEZ unit in 8th year of its operation. 90% of its export sales are to Lovely LLC of USA, which has guaranteed the loan of ₹ 100 crore taken by BEL.
- Particulars relating to import of product Z by Mr. Prahalad on 23-12-17 from Antwerp, Belgium to the Chennai airport, are given hereunder: FOB value of the Product: $ 10,000 Cost o
- State with brief reasons, whether the following statements are true or false in the light of the provisions contained in the Customs Act, 1962: Customs area includes a warehouse;
- State with brief reasons, whether the following statements are true or false in the light of the provisions contained in the Customs Act, 1962: A beneficial owner of imported goods
- XYZ Ltd, having its head office at Mumbai, is registered as Input Service Distributor (ISD). It has three units in different cities situated in 'Mumbai', 'Jabalpur' and 'Delhi' whi
- Siddarth Transports Ltd., is running a regular tourist bus service, carrying passengers and goods from Coimbatore, Tamil Nadu to Trivandrum, Kerala, with effect from 1st August, 20
- Bharghav Pesticieds Ltd., a domestic company, intends to start a business in Kolkata, involving supply of certain goods, mostly meant for foreign buyers in China. There is some dif
- From the following details pertaining to Ashwathama, a registered dealer engaged in purchase and sale of goods, ascertain the GST liability (SGST/CGST/IGST) for the month of Novemb
- Jayakumar Textiles Ltd., purchased a machinery on 12 th August, 2017 for ₹ 12 lakhs (excluding GST). The company put the machinery to use after the purchase and availed input tax c
- Compute the assessable value of an imported product (as on 11-12-2017), in the following independent situations: Case 1 Particulars Figure (Euro €) FOB value 2,000 Freight, loading
- AB Ltd. imported Super Kerosene Oil (SKO) and stored it in a warehouse. An ex bond bill of entry for home consumption was filed and duty was paid as per the rate prevalent on the d
- Balram, a registered supplier, furnishes the following details pertaining to the month of October, 2017 (first month of starting of business): Particulars Amount (₹) Purchases of g
- In the context of 'Clear first, Pay later' concept evolved under the customs law, state the objectives of the concept and the persons who are eligible to avail this facility.
- Vinod, a supplier of goods in Vadodara furnishes the following particulars pertaining to supplies likely to be effected by him during the third and fourth quarters of the FY 2017-1
- Harivallabh, a registered supplier, rendered taxable service for ₹ 2 lakhs on 1-11-2017. The tax invoice was raised on 9-12-2017. Payment was received the next day. Ascertain the t
- State the due dates for payment of deferred customs duty under 'Clear first, Pay later' system evolved under the Customs Act, 1962.
- State the Form Number and the due date for its filing under CGST Act, 2017 of the return by: a composition scheme taxable person.
- State the Form Number and the due date for its filing under CGST Act, 2017 of the return by: a registered person deducting tax at source.
- State the Form Number and the due date for its filing under CGST Act, 2017 of the return by: an input service distributor.
- Briefly explain provisions related to e-way bill as per CGST Act, 2017 relating to: What is e-way bill and when it is being required?
- Briefly explain provisions related to e-way bill as per CGST Act, 2017 relating to: What is its validity period?
- Answer the following with reference to GST (compensation to states) Act, 2017: Projected Growth Rate.
- Answer the following with reference to GST (compensation to states) Act, 2017: Base year.
- Answer the following with reference to GST (compensation to states) Act, 2017: Projected Revenue for any year.
- Answer the following with reference to GST (compensation to states) Act, 2017: Calculation and release of compensation.
- Answer the following with reference to GST (compensation to states) Act, 2017: Objective of GST (compensation to states) Act, 2017.
- Briefly define the following terms as per CGST Act, 2017: Adjudicating Authority.
- Briefly define the following terms as per CGST Act, 2017: Aggregate Turnover.
- Briefly define the following terms as per CGST Act, 2017: Exempt Supply.
- Hema Lubricants Ltd., filed an appeal before the Appellate Tribunal against the order of the Appellate Authority, wherein the issue was revolving around the place of supply. The Tr
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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.