CS Executive Tax Laws Pre Exams Question Answers – Set 3


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Tobacco attracts both?
Alternative Minimum Tax (AMT) is applicable if adjusted Total Income of individual, AOP, artificial juristic person, Firm etc. exceeds:
Inputs should be either brought back to the principal OR alternatively sold from the job-worker’s premises within in case of capital goods
Indian GST has a Tier rate structure.
In arriving at C.l.F. Value, the insurance can be taken at actuals, capped to?
The below prescribed rates are for? The rates are as follows: a) For Manufacturers @1% (CGST + SGST) b) For Food & Restaurant business @5% (CGST + SGST) c) For Traders @1% (CGST + SGST)
No. of days in a month for purposes of computing taxable Gratuity in case the employee is covered under the Payment of Gratuity Act, 1972, are?
Basic exemption for a co-operative society for the assessment year 2018-19 is:
Mr. A, a supplier of fabric, is registered person in Delhi. Mr. A exported 1000 metres of clothes to Mr. B located in France. Which is the place of Supply in this situation?
Mr. Rocky, qualified as resident and ordinary resident (ROR) in India for the Financial Year 2017- 18, has a taxable income of Rs. 50,000. Aditionally, He also owns a house property in the US. Whether Mr. Rocky is required to file its return of Income in India for the Financial Year 2017- 18?
Mr. Y citizen of Sri Lanka, came to India as a tourist and stayed in India for 1 months. After 1 months of his stay in India he returned to Sri Lanka. One day before his departure, he bought a camera with the purpose to carry it to Sri Lanka, along with him. In this given scenario Choose correct statement:
If an assessee fails to pay advance tax as required under the Income Tax Act, or the advance tax paid by him is less than _____________ of the assessed tax, he shall be liable to pay interest u/s 234B:
An Indian company got sponsorship contract from a foreign company and signed a contract for payment in Indian Rupee. Select the right option on the bases of given information:
In which of the following cases, income of previous year is assessable in the previous year itself: (i) Assessment of persons leaving India (ii) A person who is into illegal business (iii) A person who is running a charitable institution
The fundamental cannons of taxation by Adam Smith are:
Goods under the act constitute?
Section 115JB deals with?
The following taxes have now been subsumed under GST?
It is levied to ensure that the Indian Manufacturers don’t suffer owing to import of cheaper goods from outside and therefore aims to create a level playing a field for the Indian Manufacturers and Importers, thereby with the intent of safeguarding the national interest
Clubbing provisions will be equally applicable for losses.

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