4. IBS Topic Wise Index

PREPARED By
CA VINAY KUMAR
&
CA Rohit CHIPPER
Page 1
IBS TOPIC WISE INDEX
Features
• Includes all case studies issued by ICAI (Sample case studies, Past year paper, MTPs, RTP, Case
study digest & Student journal) (covering 150+ unique case studies)
• Questions are segregated according to relevant subject & topic.
• Topic has been added to all the questions and sorted (A-Z)
• If any similar concept/ topic has been asked in exam then you can refer this index to identify in
which past question this topic has been covered.
• If the answer of that question is relevant for your exam question, then you can refer that past
case study from compilation and copy the relevant concept/ section/ topic from there (no need
to refer any other study material then).
Why this index is useful?

IC!I has covered 1000+ topics in 150+ case studies that had been released and in its highly probable
that in exams also they will ask certain questions from same topics (question may be different but
concept/ topic/ section used will be same);
This index will be useful if any question come in your exam from the similar topic which is covered in
compilation; You can search that topic from this compilation and then copy the relevant part;
Key Benefits
- When you copy any concept/ topic/ section from an answer issued by ICAI then you will not have
to invest time in finding the key/relevant part from a huge topic as answers of this compilation is
from exam point of view where only relevant part is covered by ICAI.
- You don’t have to refer multiple books (of 7 subjects) for different answers, you can directly
search all the subject topic from this index which are covered in past case studies
How to use this index? (most Important)

1. Carry this index and case study compilation in exam.
2. No need to use this index in reading time of 15 min, you have to use only the case study question
index in reading time to identify repeated case study.
3. Once you have answered the repetitive case study in your exam and all the other questions in
which you are confident then use this index for the new questions which you don’t know where
to answer.
4. Identify the subject & topic from where the Qn is asked.
5. Come to this index, go to relevant subject then go to the topic, and try to analyse which question
will be relevant for you and may cover the topic by reading the comment and initial words of the
question (All topics are sorted A-Z in index).
6. Once you find on which page of the compilation the similar topic is covered then go to that page
and copy the topic, the facts & analysis you will have to update.
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Practice to be done before exam
Its important to practice this index before exam so, you can efÏciently use this index in 4 hours 15
minutes of exam; Follow below approach
- Read all the topic of each subject from the topic summary part to understand which topic means
what, if you are giving both groups then you may already know but still revise them so, that in
exam once you read the question you will be able to identify subject and topic.
- Try searching at least 10 case studies from random pages to have a grip over this index.
- Unlike other index this index needs practice so, that you can use this efficiently in exam.
Page Number
Sr.No. Subject Pg no.
1 Introduction 2
2 Topic Summary 4
3 FR 6
4 AFM 11
5 Audit 12
6 DT 16
7 IDT 23
8 Law 27
9 SCMPE 32
You can join our telegram channel for more such notes:
C! Vinay Kumar: https://t;me/IntegratedBusinessSolutionIC!I

C! Rohit Chipper: https://t;me/carohitchipper
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Topic Summary
For each subject, we have used chapter’s name from study material as the topic except SCMPE/SCPM as
chapter’s name in SCPM is not recognisable and most of the students don’t know which chapter of SCPM
contains which concepts; !lso SCPM index is short and concise;
FR Topics AFM Topics
Applicability of Ind AS Advance Capital Budgeting Decision
CSR Business Valuation
Ind AS 1 Presentation of Financial Statements Foreign Exchange Exposure And Risk Management
Ind AS 10 Events after the Reporting Period Interest Rate Risk Management
Ind AS 101 First-time Adoption of Indian Accounting International Financial Management
Standard
Ind AS 102 Share-based Payment Mergers Acquisitions & Corporate Restructuring
Ind AS 103 Business Combinations Mutual Funds
Ind AS 105 Non-current Assets Held for Sale and Others
Discontinued Operations
Ind AS 107 Financial Instruments: Disclosures Portfolio Management
Ind AS 108 Operating Segments Risk Management
Ind AS 109 Financial Instruments Securitization
Ind AS 110 Consolidated Financial Statements Security Analysis
Ind AS 111 Joint Arrangements Security Valuation
Ind AS 113 Fair Value Measurement Startup Finance
Ind AS 115 Revenue from Contracts with Customers
Ind AS 116 Leases
Ind AS 12 Income Taxes
Ind AS 16 Property, Plant and Equipment DT Topics
Ind AS 19 Employee Benefits Advance Ruling
Ind AS 2 Inventories Appeals & Revision
Ind AS 20 Accounting for Government Grants and Assessment Of Trusts And Institutions, Political Parties
Disclosure of Government Assistance And Other Special Entities
Ind AS 21 The Effects of Changes in Foreign Exchange Rates Assessment of Various Entities (MAT/ AMT/
AOP/115BAA/ Partnership)
Ind AS 23 Borrowing Costs Assessment, Search & Survey Procedure
Ind AS 24 Related Party Disclosures Capital Gains
Ind AS 27 Separate Financial Statements Deduction, Collection and Recovery of tax (TDS/TCS)
Ind AS 28 Investments in Associates and Joint Ventures DTAA
Ind AS 32 Financial Instruments: Presentation Equalization Levy
Ind AS 33 Earnings per Share Exemption
Ind AS 34 Interim Financial Reporting Income from House Property
Ind AS 36 Impairment of Assets Income from Other Source
Ind AS 37 Provisions, Contingent Liabilities and Contingent NR Taxation
Assets
Ind AS 38 Intangible Assets Others
Ind AS 40 Investment Property PGBP
Ind AS 41 Agriculture Salary
Ind AS 7 Statement of Cash Flows Special Tax Rates
Ind AS 8 Accounting Policies, Changes in Accounting Tax Audit
Estimates and Errors
Others Tax Planning, Tax Avoidance And Tax Evasion
Professional and Ethical Duty of a Chartered Accountant Taxation of Digital Txn
Schedule III Transfer Pricing
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Audit Topics IDT Topics
Audit strategy Appeals & Revision
Bank Audit Charge under GST (Composition/ RCM)
CARO Custom Act
Company Audit E-Way Bill
Digital Auditing And Assurance Exemptions
Due Diligence, invetigation & Forensic Audit Import & Export under GST
Internal Audit Input Tax Credit
Internal Control Liability to pay in certain cases
Others Others
Professional Ethics Payment of Tax
SA 200 Overall Objectives of the Independent Auditor and the Place of supply
Conduct of an Audit in Accordance with Standards on Auditing
SA 210 Agreeing the Terms of Audit Engagements Refund under GST
SA 220 Quality Control for an Audit of Financial Statements Registration
S! 240 The !uditor’s Responsibilities Relating to Fraud in an Returns
Audit of Financial Statements
SA 250 Consideration of Laws and Regulations in an Audit of Supply under GST
Financial Statements
SA 265 Communicating Deficiencies in Internal Control to Tax Invoice, Credit and Debit Notes
Those Charged with Governance and Management
SA 299 Responsibility of Joint Auditors Time of Supply
SA 315 Identifying and Assessing the Risks of Material Valuation under Custom
Misstatement Through Understanding the Entity and Its Env.
SA 320 Materiality in Planning and Performing an Audit Value of Supply
S! 330 The !uditor’s Responses to !ssessed Risks
SA 402 Audit Considerations Relating to an Entity Using a Law Topics
Service
SA 500 Audit Evidence Accounts of Companies Sec 128 to 138)
SA 501 Audit Evidence-Specific Considerations for Selected Appointment and Qualifications of Directors (Sec
Items 149 to 172)
SA 505 External Confirmations Appointment and remuneration of Managerial
Personnel (Sec 196 to 205)
SA 540 Auditing Accounting Estimates, Including Fair Value Arbitration - Not in Syllabus now
Accounting Estimates, and Related Disclosures
SA 550 Related Parties Companies Act Provision
SA 560 Subsequent Events Compromises, Arrangements and Amalgamations
(Section 230 to 240)
SA 600 Using the Work of Another Auditor CSR
SA 610 Using the Work of Internal Auditors Declaration and Payment of Dividend
SA 700 Forming an Opinion and Reporting on Financial FCRA
Statements
SA 701 Communicating Key Audit Matters in the Independent FEMA
!uditor’s Report
SA 705 Modifications to the Opinion in the Independent Foreign Company
!uditor’s Report
SA 706 Emphasis of Matter Paragraphs and Other Matter IBC
Paragraphs in the Independent !uditor’s Report
SA 710 Comparative Information—Corresponding Figures and Inspection, Inquiry and Investigation (Sec 206 to
Comparative Financial Statements 229)
S! 720 The !uditor’s Responsibility in Relation to Other Meeting of board and its power (Sec 173 to 195)
Information in Documents Containing Audited Financial
Statements
SAE 3400 The Examination of Prospective Financial Information Oppression and Mismanagement
SQC 1 Quality Control for Firms that Perform Audit and SEBI (LODR)
Reviews of Historical Financial Information, and other
Assurance and Related Services Engagements
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CA Final IBS Case Study Index (Telegram channel: CA Rohit Chipper)
FR By CA Rohit Chipper, AIR 17 CA Final, AIR 18 CA Inter FR
Type
Topic Comment Question Initial wording Page
M/D
After reading and understanding the information provided in the case study, answer the
Applicability of Ind AS Applicability of Ind AS questions that follow: (a) Are Indian Accounting Standards applicable on Cheerful & Healthy 570 Desc.
Limited from 01/04/20
Referring Para 5, examine the applicability of accounting standards to Supatra Foundation,
Applicability of Ind AS Applicability of Ind AS 522 Desc.
particularly in respect of its non-commercial activities?
The Companies Act, 2013 lays down the provisions requiring certain specified companies to
Applicability of Ind AS Correct Incorrect mandatorily spend a prescribed percentage of their profits on certain specified areas of social 622 MCQ
upliftment in
Accrual for CSR in the books of account based on the approved budget for financial statement
CSR CSR 668 MCQ
preparation is permissible under the Indian GAAP
What accounting treatment should be suggested to the Company relating to transfer of
CSR CSR - Asset -T/f of builiding 1162 MCQ
building?
CSR CSR Earmarked Will the recognition of ` 20,000 as CSR expenditure qualify to be a CSR Expenditure? 1162 MCQ
Will the amount that was to be paid by MSNV Pvt. Ltd. towards ABC Foundation Ltd. qualify to
CSR CSR Earmarked 1268 MCQ
be a CSR Expenditure?
With reference to the information given under Para 3, how much excess CSR expenditure has
CSR CSR Excess utilization been made by YPL during F.Y. 2022-23 and whether such excess CSR expenditure can be carried 1137 Desc.
forward to the nex
CA Nayyar said that he would discuss the accounting of the Revenue expenditure for Corporate
CSR Treament in Financials Social Responsibility made in the current financial year with the accounts department in the due 1163 Desc.
course of
The firm has lodged its claim with PSU insurer consisting of damages to building, machinery and
Ind AS 1 Expense treatment stocks. Besides, the firm has also included in its claim bill lodged with insurers certain un- 881 Desc.
incurred e
Would the reclassification of liabilities from non-current to current in the comparative amounts
Ind AS 1 Reclassification of CL to NCL be considered to be correction of an error? Would the entity, UBA Private Limited need to 1022 Desc.
present a thi
Ind AS 1+8+38 Qualification in Audit Report C! Kumar’s 2 qualifications in the !udit report relate to - 1261 MCQ
You have been asked to explain regarding appropriate accounting treatment under Ind AS for
Ind AS 101 Amortzation of goodwill amortisation of the goodwill by the company and that whether the accounting treatment as 136 Desc.
suggested in paragra
In the light of the inputs given above in Discussion 2, compute a Cost and Price Statement,
Ind AS 101 Date of Transition - B/s 170 Desc.
indicating the price that should be quoted to the customer
Discuss in brief about the provisions/ requirements of the relevant Ind AS, which is required for
Ind AS 101 Date of Transition - B/s Prep 207 Desc.
preparation of S Limited's opening Balance Sheet as on the date of transition.
In the light of the inputs given above in Discussion 3, explain which of the group companies are
Ind AS 101 Explanation of Disclosures 170 Desc.
required to appoint an internal auditor under the provisions of the Companies Act, 2013?
Prepare Ind AS Impact analysis report of HIM Limited for presentation to the management
Ind AS 101 Journal Entry at time of Transition wherein you are required to show the corresponding differences between Earlier IGAAP (AS) 1193 Desc.
and New GAAP (Ind AS)
With reference to the information given under Para 1, what shall be the value of goodwill for
NCI and G/w calculation- FV
Ind AS 103 !miysam Ltd; on acquisition of 55% shares of VPL as per fair value method if the value of VPL’s 854 MCQ
method
identifiab
With reference to the information given under Para 1, what shall be the value of goodwill for
Ind AS 103 NCI and G/w calculation- PSNA Amiysam Ltd. on acquisition of 55% shares of VPL as per proportionate share method if the 855 MCQ
value of VPL’s i
Calculate the gain or loss, Kavya Hotels Ltd. will make on acquisition of Anupama Hotels Ltd., if
Ind AS 103 NCI and G/w calculation- PSNA 897 Desc.
their deal is finalised. Also show the Journal entries for accounting of its acquisition. Also calcula
Calculate the non-controlling interest in the books of Iktara limited for the investment made in
Ind AS 103 NCI Computation 1239 Desc.
Maya private limited by both the methods mentioned in Ind AS 103.
With reference to the information given under Para 4, calculate the share-based payment value
Ind AS 103 Pre Acq SBP 1033 Desc.
as per Ind AS 102?
With reference to information given under Para 4, discuss whether the classification of
Ind AS 105 - Evaluate The
Ind AS 105 Aviskrutya Ltd. as held for sale and its presentation as a discontinued operation is appropriate, 468 Desc.
Treatment In The
by referring t
The Company had earlier purchased a small bottle manufacturing plant meant for storing
Ind AS 105 medicines for ` 24 lakhs on 1st April, 2016. The useful life of the plant was 8 years. On 30th 339 Desc.
September, 2018, t
Pursuant to AS-17 on 'Segment Reporting', in respect of three segments namely X, Y and Z
Ind AS 108 AS-17 663 MCQ
belonging to ATPL:
The Company has requested you to suggest the accounting treatment of the above arrangement
Ind AS 109 acquisition of shares 106 Desc.
and transaction of acquisition of shares in CASA Ltd
With reference to information given under Para 2, evaluate this under the definition of financial
Ind AS 109 Derivative 463 Desc.
instrument.
How UBA Private Limited is required to account for the security deposit in its books of accounts,
Ind AS 109 Security Deposit for the rent agreement made between it and the complex owner. Pass journal entries for the 1022 Desc.
entire dura
The Company on 1st April, 2015 had issued 50,000, 7% convertible debentures of face value of `
compound financial instrument on
Ind AS 109+101 100 per debenture at par. The debentures were redeemable at a premium of 10% on 31st 340 Desc.
the date of transition
March, 2020 or these
Compute the gain from disposal of shares of QR Ltd, which XYZ Limited has to record in its
Ind AS 110 gain from disposal of shares 37 Desc.
Consolidated Financial Statements.
Which Ind AS/AS does the Iktara limited is required to apply for consolidation of Softbharti
Ind AS 110/103 Which Consolidation Std 1238 MCQ
private limited’s financials?
Ind AS 110/103 On giving effect to the Scheme, Inter-company Loan provided by 'Magnum' to 'Yamuna' 445 MCQ
What will be the fair value of Vratam Ltd;’s investment in Kiyat Ltd; as on the balance sheet
Ind AS 113 Fair Value - Enterprise Value 488 Desc.
date? Refer Para 2.
Explain the term 'Fair Value' in terms of Ind AS. Also define the term 'Principal Market' and how
Ind AS 113 Transport and ttransaction cost 118 Desc.
it is determined.
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Commission for Wonder Agent - Calculate the commission to be paid by Aakashvani to its respective travel agents for FY 2022-
Ind AS 115 1082 Desc.
Calculation 2023.
In respect of price revision during 2016-17, where ATPL stands to receive Rs.15 lakhs from its
Ind AS 115 Cumulative catchup adj 662 MCQ
customers in respect of sales made from 1st January, 2018 to 31st March, 2018 :
Ind AS 115 - Fair Value Of Leasing With reference to information given under Para 4, (a) Whether XLL’s performance obligation is
Ind AS 115 Containers Upon Initial met over period of time? (3 Marks) (b) Analyse the fair value of leasing containers upon initial 466 Desc.
Recognition In The Books Of C recogniti
Intellectual Property - Point in
Ind AS 115 Mr. D asks Mr. A as to the nature of License as obtained from Hally Ltd. Mr. A tells him that:- 1103 MCQ
time
How should revenue be measured in the case of Talktime Telecom Pvt; Ltd;’s contract with the
Ind AS 115 non-monetary exchanges 1218 MCQ
company B Ltd. in the books of Talktime Telecom Pvt. Ltd.?
Ind AS 115 Performance obligation Whether the Performance obligations under the Contract with Netanet distinct? 1103 MCQ
With reference to information given under Para 4, (a) Whether XLL’s performance obligation is
Ind AS 115 PO met over time or not met over period of time? (3 Marks) (b) Analyse the fair value of leasing containers upon initial 466 Desc.
recogniti
With respect to information given in Para 2, analyse and state how the revenue should be
Ind AS 115 Price reduction retrospectively 1399 Desc.
recognised in respect of sale of T-shirts by RPL to JML.
Whether Hamba Manufacturers Ltd. should include cost of the air conditioners in measure of its
Revenue - measure of its progress
Ind AS 115 progress of performance obligation? How should revenue be recognised for the year ended 1219 Desc.
of performance obligation
March, 2023?
Revenue Computation - packages Calculate the revenue receivable for FY 2022-23 of Aakashvani, from the packages subscribed by
subscribed by customers customers as per its revenue model.
What will be the amount of income to be recognized by IECL for CERs, if any, as per the
Ind AS 115 Revenue recognition applicable Accounting Standard for the year ended 31st March, 2018 and 31st March, 2017 669 MCQ
respectively?
Analyse whether the accounting treatment made by the accountant w.r.t. revenue recognition
Revenue recognition - amount
Ind AS 115 in the case of sale made to Mars Ltd. by Saman Pvt. Ltd., is in compliance of the Ind AS. If not, 1315 Desc.
received in installments
advise the
What shall be the transaction price w.r.t. the contract entered into with customer E by Varsha
Ind AS 115 Transaction Price 1229 MCQ
Pvt. Ltd.?
With reference to information given under Para 5, how should XLL determine the transaction
Ind AS 115 transaction price? 466 Desc.
price?
Txn Price & Revenue Recog + GST To recognize ticket sales from the flights KG Airlines operates, you are required to answer the
appliacbiliy following questions:
Ind AS 115 Variable consideration Explain "Variable Consideration" and how it will be accounted for in terms of Ind AS. 112 Desc.
Sales of products from Mahajan Food Products Ltd. to ABC Ltd. in the two-month period from
Revenue and Related Party
Ind AS 115+24+Disclosure 1st April 2022 to 31st May 2022 totaled ` 16,00,000. Following the share purchase by Mrs. Birla, 1304 Desc.
Disclosure
Mahajan Food
Ind AS 116 Lease and it’s components Define 'Lease' as per Ind AS and explain its various components 128 Desc.
With reference to Para 3, how should the Asayam Ltd. account for the lease entered with
Ind AS 116 Lessor - Finance Lease accounting 494 Desc.
Havanti Ltd. in its books of accounts?
With reference to Para 3, at what amount, Asayam Ltd. shall present the building floor in the
Ind AS 116 Lessor accounting 492 MCQ
balance sheet given under lease at the end of year 1, in accordance with relevant IndAS?
In the light of the information given in para (f) above, state whether the lease constitute a
finance lease and also calculate unearned finance income in terms of Ind AS 17.
Deferred Tax on accumulation of
Ind AS 12 With respect to SUN Limited, what will be the deferred tax and where will it be impacted 106 Desc.
undistributed profits
Deferred Tax on Asset & Prov for Calculate the amount of deferred tax liability to be shown in the company’s balance sheet as at
Ind AS 12 1092 MCQ
doubtful debts 31st March 2023.
Deferred Tax on head office Compute the deferred tax liability as on 31st March, 2022 and the charge/credit to the
Ind AS 12 106 Desc.
property using revaluation model Statement of Profit or Loss and/ or Other Comprehensive Income on head office property.
Give examples of temporary differences transactions that may affect taxable profit or loss of an
Ind AS 12 Examples of temporary differences 89 Desc.
enterprise
Referring Para 2, prepare necessary entries in respect of Jas Jagish Ltd. as at 31st March 2022,
Jagish sold Ltd Investment made -
Ind AS 12 taking current and deferred tax into account. The tax rate is 25%. Also prepare the tax 522 Desc.
exemption a/s 54EC
reconciliation
Do you think that the ''Deferred Tax Asset" recognition on the unabsorbed business losses is
Ind AS 12 414 MCQ
appropriate:-
ATPL had installed a new plant at its production facility on which it had incurred certain costs.
The costs that can be capitalized in accordance with AS-10 (revised) is:
Ind AS 16 Asset defin Mr; Sharma’s contention w;r;t the recognition of assets is: 1260 MCQ
What should be C! Kumar’s professional advice to resolve the dilemma of Mr; !nand regarding
Ind AS 16 Asset defin 1260 MCQ
the expense incurred on Land?
What is the impact of capital expense being debited to P&L account as given in point no. 3 of
Ind AS 16 Capex debit to P/l 567 MCQ
case study?
The special purpose machines imported from the Netherlands, can’t put to use directly without
Ind AS 16 Capitalisation of cost calibrating the same for crop-specific pre-set information and conditioning. Cost of calibration 633 MCQ
should be
Compute the carrying amount of the factory in the Balance Sheet of Goyal Textiles Ltd. as at
Ind AS 16 Cost of Factory 31st March, 2022. You should explain your treatment of all the amounts referred to in this part 559 Desc.
in your ans
In respect of the data provided in para (i) above, examine whether the cost of new component
Ind AS 16 cost of new component (server) (server) be recognized as an asset, and, if so, what should be the carrying value of the plant at 276 Desc.
the end o
In respect of the information provided in para (c) above, examine whether the cost of new
Cost of new component (server) (
Ind AS 16 component (server) be recognized as an asset and if so, what should be the carrying value of the 186 Desc.
Repeated)
plant at the
During the financial year 2019-20, HW Limited purchased the machinery named Machinery 67
Ind AS 16 Depreciation for the purpose of its manufacturing business. According to relevant Indian Accounting 580 MCQ
Standard, depreciation i
In the light of Ind AS 16, explain how should the Company account for revaluation of Plant and
Ind AS 16 Revaluation & then Depreciation 231 Desc.
Machinery and depreciation subsequent to revaluation?
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In the light of information provided in para (E) - 'Other Inputs' above and Ind AS 16, explain how
Ind AS 16 Revaluation & then Depreciation should the Company account for revaluation of Plant and Machinery and depreciation 283 Desc.
subsequent to reva
The amount at which the Chandigarh property to be accounted in the books of account as at
Ind AS 16 413 MCQ
31st March, 2017 is _________ (` in Lakhs)
You have observed that 1 of the Company's units located in a coastal area had faced
Ind AS 16 interruption in production during the second quarter of FY 2019-20 due to cyclone and floods. 291 Desc.
On the basis of the in
Referring Para 2, determine how PBL should account for the sale transaction of machinery to
Ind AS 16+36 Sale of Machinery 516 Desc.
VPL in its books.
Referring to AS 15 on "Employee Benefits" in respect of revision by ATPL of its employee
Ind AS 19 AS-15 remuneration policy from 1st of April 2017 to provide for 12% contribution to provident fund on 664 MCQ
leave encashmen
discontinuation of old defined How should the discontinuation of old defined pension plan be accounted in the financials of
Ind AS 19 106 Desc.
pension Brightstar Limited for the year ended 31st March 2022 as per Ind AS
How much amount of expenses/income for employee benefits, UBA Private Limited is required
Ind AS 19 Employee benefit-OCI to recognise in the ‘Other Comprehensive Income’ section of its financials? Ignore deferred tax, 1022 MCQ
if any.
Ind AS 19 - Employee Service For State how the benefit to be attributed for the employee service for the Iast 20 years, 10 and 20
The Iast 20 Years, years and within 10 years, be measured.
With reference to information given under Para 2, what would be the treatment of the short-
Ind AS 19 Ind AS 19 - Plan Does Not F term compensating absences, profit-sharing plan and the defined contribution plan in the books 459 Desc.
of Upal Ltd? W
With reference to Para 4, how much total amount should be recognised in the other
Ind AS 19 Plan asset & DBO - OCI comprehensive income, by Pranidhan Ltd. with respect to plan assets and the defined benefit 495 MCQ
obligation?
With reference to Para 4, how much total amount should be recognised in the statement of
Ind AS 19 Plan asset & DBO - P/L 495 MCQ
profit and loss, by Pranidhan Ltd. with respect to plan assets and the defined benefit obligation?
Ind AS 19 profit sharing plan Explain profit sharing plan, as performance management tool and group incentive plan. 112 Desc.
Ind AS 19 Sick pay liability Comment whether the entity would require to recognize any liability in respect of leaves. 1353 Desc.
The management of HPNR has approached you to help them in deciding as to how animated
Ind AS 2 Animation objects objects created by the firm shall be accounted for in the books of accounts and how the same 160 Desc.
shall be valued for r
As per which METHOD it should be
Ind AS 2 How should “M!GNI” be measured in accordance with IND!S 2? 1292 MCQ
measured
As per which METHOD it should be How should the Handbags as made and traded by the Company be measured in accordance
Ind AS 2 1292 MCQ
measured with INDAS 2?
Whether the cost of Buyer Furnished Equipment's (BFE's) supplied by XYZ Private Limited to
Ind AS 2 Asset definition Defence Innovators Limited for installing the same in the ships can be considered as 'inventory' 164 Desc.
by Defence I
The Marketing Manager tells CA Ravi about the Costs which they incur to sell imported goods in
Ind AS 2 Cost of Inventory domestic market alongwith their accounting codes. From the following alternatives, choose the 1291 MCQ
combination
With reference to the information given in Para 8, compute the cost of the inventory?
Ind AS 2 Cost of Inventory 1358 Desc.
Substantiate your answer with appropriate reasons and calculations, wherever required.
Packaging material to be treated
Ind AS 2 Packing material “G!MM!” as per the above case should be classified as per IND!S-2 as? 1291 MCQ
as Inventory
Ind AS 2+41 Plucked Tea Leaves Accounting #N/A #N/A Desc.
Explain the accounting treatment of, if any, for the two grants received and the flood-related
Ind AS 20 Accounting treatment for GG compensation in the books of accounts of Spectra Limited as on 31st March, 2023, to be worked 1061 Desc.
out by Shiv
In respect of the Government grants received of Rs. 8 crores and the land received free of cost
from the State Government by ATPL:
Calculate the amount, Shanaya Limited would recognise in its books of accounts in first year, for
Ind AS 20 Govt Grant recognition 1012 MCQ
the grant received from Government of India amounting to ` 35 crores.
Examine how the Government grant be recognised in the books of BCD Pharmaceuticals
Ind AS 20 Govt. grant recognition 1061 MCQ
Limited.
State with reasons, the accounting treatment to be followed in the financial year 2018-19 in
Ind AS 20+101 Refund of Govt Grant respect of refund of government grant due to non-fulfillment of certain conditions attached to it 327 Desc.
as discus
There has been a fluctuation in the foreign exchange rate of Euro. What will be the treatment of
Ind AS 21 Forex foreign exchange difference between the time of order and the time of balance payment for 633 MCQ
SPMs?
Calculate the amount of loss/gain as per IndAS 21 in respect of machinery purchased by Ideal
Ind AS 21 Forex gain 1070 MCQ
Fabrics Ltd. in foreign currency that needs to be recognised in the statement of profit and loss.
Ind AS 21 Functional curreny Can INR be presumed as the Functional Currency for SIMCO? 908 Desc.
Provide the accounting treatment w.r.t. transaction between ABCD Ltd. and PQRS Ltd. in their
Ind AS 21 Inventory sale respective books of accounts. Also show its impact on consolidated financial statements. 920 Desc.
Support your answe
capitalisation of borrowing cost for Define qualifying asset for capitalising the borrowing cost and explain when the capitalisation
Ind AS 23 112 Desc.
pur of aircraft should commence and cease
Following the provisions of Ind !S 23 ‘Borrowing Costs’, calculate the amount of interest to be
Capitaliztion rate and Journal
Ind AS 23 capitalized and pass necessary journal entry for capitalizing the cost and borrowing cost in 1150 Desc.
Entries
respect of
Ind AS 23 - Of Ind AS 23 Following the provisions of Ind !S 23 ‘Borrowing Costs’, calculate the amount of interest to be
Ind AS 23 ‘Borrowing Costs’, Calculate The capitalized with respect to the new building and pass necessary journal entry for capitalizing the 530 Desc.
Amount Of Intere cost
By when, Kiramji Ltd. should have ceased capitalizing the interest costs related to the building
Ind AS 23 + Audit Report Ind AS 23 + audit report - The The and how such matter will be qualified in the audit report by the auditor of the company? 530 Desc.
Describe the m
Page 8
customer, supplier, franchisor,
distributor or general agent with The Head Accountant is of the view that A Ltd. is the Related Party of Mahajan Food Products
Ind AS 24 1304 MCQ
whom an entity transacts a Ltd.:
significant volume of busines
What are the disclosure requirements which you would like to verify from the financial
Ind AS 24+37 Disclosure requirements statement of XYZ Limited for the year ended 31.03.2021 with respect to its transactions with 154 Desc.
CDE Limited? Whether
Cost of Acquisition + Share in P/L Calculate the closing value of investment in Chandra Suppliers Ltd. of RA Ltd using the equity
& OCI method of accounting as per IND AS 28 on the basis of Para (1).
R! Ltd;’s excess of the cost of the investment over its share of the net fair value of the Chandra
Ind AS 28 Goodwill 1122 MCQ
Suppliers Ltd;’s identifiable assets and liabilities will be treated as _______________ and will be i
Referring Para 3, calculate the goodwill / capital reserve on the date of acquisition of share in
Ind AS 28 Ind AS 28 - Entries Necessa 516 Desc.
KTL and PBL’s share in the profit and other comprehensive income for the year;
Referring Para 3, calculate the goodwill / capital reserve on the date of acquisition of share in
Ind AS 28 Ind AS 28 - Entries Necessa 516 Desc.
KTL and PBL’s share in the profit and other comprehensive income for the year;
With reference to Para 3, what shall be the closing balance of investment in KTL in the books of
Ind AS 28 Investment in Associate 515 MCQ
PBL at the end of the year?
On April 30th 2024, Power Group Ltd. (PGL) sells an aircraft that it owns to Thunderbolt Airlines
Private Limited (TAPL). This aircraft is of an older model. Therefore, its fair value is ` 45 crores
Ind AS 28 Sale of Asset - downstream txn 1364 MCQ
while the carrying cost in PGL’s latest books is ` 50 crores; How will PGL account for the loss in
its books?
Ind AS 28 Significant Influence In your opinion, does RA Ltd hold significant influence on Chandra Suppliers Ltd.? 1122 MCQ
Date of inclusion for Weighted no Shares are usually included in the weighted average number of shares from the date
Ind AS 33 21 Desc.
of shares consideration is receivable. What will be the date of inclusion in the following circumstances?
Ind AS 33 EPS Computation Recompute the EPS of the Company for the financial year 2022-23 21 Desc.
For the financial year 2019-20 what was the amount of Impairment Loss on Machinery that was
Ind AS 36 Impairment Loss 614 MCQ
required for manufacturing business of furniture of STYZ Limited:
With reference to the information given under Para 2, calculate the impairment loss, if any, to
Ind AS 36 Impairment Loss - VIU be provided in the books of SBL with respect to the machinery bought for performing the special 1279 Desc.
job of K
For calculating impairment loss, Recoverable Amount is required. For the financial year 2019-20
Ind AS 36 Recoverable Amount what was the Recoverable Amount of Machinery that was required for manufacturing business 614 MCQ
of furniture o
The Chief Accounts Officer has informed you that the Company did not provide for the decline
Ind AS 36 in the value of investments in the Indian subsidiary because the overall investment portfolio in 291 Desc.
subsidiari
In the background of facts mentioned in the issue 5 above, explain the accounting for such
Ind AS 37 onerous contract 14 Desc.
contracts, with reference to the relevant Ind AS.
With reference to the information given under Para 4, whether SBL needs to recognize provision
Provision - estimate of the costs of
Ind AS 37 for the costs to be made with respect to the contaminated soil area and if so, what shall be 1279 Desc.
removal and restoration
amount of pr
If Income tax provision at the year beginning was ` 150 crores as per books and Income tax paid
Ind AS 37 Provision of Income Tax during the year is ` 126.09 crores, then the closing balance of Income tax provision as per books 1011 MCQ
of acc
provision towards onerous Whether the company's accounting treatment of cost for creation of provision towards onerous
Ind AS 37 142 Desc.
contracts contracts is in line with the provisions of Ind AS 37
Regarding demand notice for custom duty from the custom authorities, state, whether the
Ind AS 37 Provision/CL company needed to provide for the provision/ liability/ contingent liability in the books of 629 MCQ
VayuSanchar Limited
What is the total amount of contingent liabilities of Rising Star Limited as at 31st March, 2017?
Ind AS 37 413 MCQ
(` in Lakhs)
Whether Vratam Ltd. is required to remeasure its provision and what would be the accounting
Ind AS 37+10 Contingent Asset treatment of the cost that will be recovered by Vratam Ltd., which has already been charged to 489 Desc.
the Statement
With reference to information given under Para 1, whether Upal Ltd. is required to remeasure
Ind AS 37 - The Accounting
Ind AS 37+10 its provision and what would be the accounting treatment of the cost that will be recovered by 458 Desc.
Treatment Of The
Upal Ltd., w
Analyse whether the accounting treatment made by the head accountant w.r.t. the case filed by
Ind AS 37+10 Provision - Customer filed case 1314 MCQ
a customer as narrated by Mr. Chauhan is in compliance of the Ind AS?
ATPL has debited to its statement of profit and loss, the total expenditure of Rs. 2 crores
Ind AS 38 AS-26 incurred on extensive special initial advertisement campaign for the new product. Pursuant to 663 MCQ
AS-26 "Intangi
The Mobile Application that is being developed by Soil Elements LLP can be classified as
Ind As 38 Intangible Asset Theory _______ subject to criteria in the specified IND AS. Successful trial of on-boarding a few pilot 633 MCQ
customers has
The Company had two trademarks - 'X' and 'Y'. One month before, the Company had come to
legal costs incurred relating to two
Ind AS 38 know through its marketing managers that these two trademarks have allegedly been infringed 340 Desc.
trademarks
by other competitors
There are certain carve-outs and significant differences between IFRS and Ind AS. Which of the
Ind AS 40 Carveouts and carve ins 1011 MCQ
following statements is correct in reference to Ind AS 40 vis-à-vis- IAS 40?
With reference to Para 1, what would be the treatment of Building A and Building B in the
Ind AS 40 Measurement & Disclosure Balance Sheet of Kundan Gems Pvt. Ltd. for FY 2021-22? Provide detailed disclosures and 527 Desc.
computations in line w
What would be the treatment of Building A and Building B in the Balance Sheet of Shanaya
Treatment of investment property
Ind AS 40 Limited? Provide detailed disclosures and computations in line with relevant Indian accounting 1012 Desc.
+ Disclosures
standards. Treat
With reference to Para 3, whether the property given under lease by Asayam Ltd. to Havanti Ltd.
Finance Lease+ Deemed Owner-
Ind AS 40 + Deemed Owner can be classified as an ‘Investment property’ as per Ind!S 40 and whether Havanti Ltd; shall be 493 MCQ
Sec27(iib)
consider
Page 9
With reference to the inputs provided in the Gist of Discussion-2 above, evaluate whether the
government grant for plantation of
Ind AS 41+20 accounting treatment made by the Management is in compliance with the applicable Ind AS. If 246 Desc.
eucalyptus trees
not, advise th
Explain in words what the below mentioned transactions represent in relation to Cash Flow
Ind AS 7 Cash flow Activities 1212 Desc.
Statement of Stable and Efficient Limited for the financial year ended on 31.03.2023:
Ind AS 7 Cash flow from investing Calculate the cash flow arising out of investing activities in case of Client 8- Mr. Shinde. 1205 MCQ
In case investment in DEF Limited has been done in a way other than cash, do you think that
non- cash transactions relating to
Ind AS 7 transaction would also have been reported in Cash Flow Statement? Which are non-cash 89 Desc.
investing activities
transactions relating t
What is the amount of Cash and Cash Equivalent to be disclosed in the Cash Flow Statement as
Ind AS 7 413 MCQ
at 31st March, 2017? (` in Lakhs
Accounting Policy - PPE to Invest Should PQR Ltd. consider the reclassification of building from PPE to investment property as a
Ind AS 8 1114 MCQ
Property change in the accounting policy?
How should the error be corrected in the case of Investment Property as found during checking
Ind AS 8 Error im Invest Prop of previous records, in the financial statements for the year ended 31st March, 2023, assuming 1292 MCQ
the impact
Ind AS 8 - To Information Given
With reference to information given under Para 3, analyse the situation in accordance with
Ind AS 8 Under Para 3, Analyse The 463 Desc.
relevant Ind AS?
Situation In Accordance W
You observe that the Company has been making estimates in the carrying amount of an asset or
Ind AS 8 revision in estimates a liability. On perusal of the estimates made by the Company you feel that the estimates made 340 Desc.
by the Compan
Whether gain on sale of land at Kurukshetra accounted as an extra-ordinary income is
Ind AS 8 414 MCQ
acceptable under the Companies Act, 2013 reporting framework?
What advice should CA Kumar give to Mr. Anand on the question posed by him regarding
Ind AS1 Departing from Ind AS 1261 Desc.
deviation from the IND AS?
How would the firm recognize expenses amounting to ` 90,000 related to search engine
Others Expense allocation in 2 FYs 1081 MCQ
optimization?
What is the maximum salary that. could be offered to Mr. Ravi to tum around the loss making
Others maximum salary & capital base 298 Desc.
Associate Company ?
With respect to information given in Issue 1, discuss the potential ethical conflicts which may
Professional and Ethical Duty of a
Lease arrangement issue arise in respect of the lease arrangement and the ethical principles which would guide how the 1409 Desc.
Chartered Accountant
finance manager, CA Manoj, should respond to the situation.
How will you disclose the information relating to trade payables provided in para no 3 of the
Schedule III Disclosure 83 Desc.
case study in the financial statements
Special Purpose Machines (SPM) have been the major capex for the firm. What are the
Schedule III Disclosure requirements 634 Desc.
disclosure requirements as per relevant IND ASs in respect of SPMs?
State the non-disclosures made by the Company in para 2 (a) to (d) above pursuant to financial
Schedule III Disclosures statements disclosure requirements as enshrined in Schedule III to the Companies Act, 2013. 254 Desc.
You may provi
In the light of information provided in para (D)- 'Other Inputs' above, as a Chartered Accountant,
Schedule III Disclosures give your comments to the disclosures made by the Company which adopted Ind AS for 282 Desc.
compilation of Fin
With reference to the information given under Para 5, what shall be the correct presentation of
Schedule III Presentation 1279 Desc.
the items for which Mr. Amrit had observed errors?
In the draft Management prepared Balance Sheet of Omega Soft Tech Limited as at 31st March,
Schedule III Presentation 2020, comment on the errors that the Company has made in the presentation of the draft 254 Desc.
Balance Sheet as at 3
In the draft management prepared Balance Sheet of M/s. Artha Techno Plast Limited (ATPL) as
Schedule III Presentation at 31st March, 2018, comment on the presentation of the Balance Sheet in terms of Schedule III 664 Desc.
to the Compan
Comment whether the classification referred in para (5) above is correct or not in the light of
Schedule III Presentation of Income 179 Desc.
Schedule III to the Companies Act, 2013
Regarding fIexi-deposit linked current account with various banks, the Management wants to
presentation requirements of
Schedule III present the book overdraft under current liabilities and flexi-deposits under cash & bank 664 Desc.
Book Overdraft
balances. What are
Raw material, Loose Tools & Trade Give your comments on the disclosures (as, extracted) made by the Company in its draft
Schedule III 298 Desc.
recievable financial statements under Ind AS
W.r.t the Presentation of Inventories, what should be the presentation requirement as per
Schedule III Schedule III 1228 MCQ
Schedule III?
Comment on the presentation of the Balance Sheet as laid before C! !mit by Varsha’s
Schedule III Schedule III 1229 Desc.
accountant w.r.t. Varsha Pvt. Ltd. in terms of Division II of Schedule III.
Whether the financial statements of Softbharti private limited are correctly presented as per the
Schedule III Schedule III applicable financial reporting framework. If not, prepare the revised financial statements of 1239 Desc.
Softbhar
Page 10
AFM By CA Rohit Chipper, AIR 17 CA Final, AIR 18 CA Inter AFM
Type
Topic Comment Question Initial wording Page
M/D
Coefficient of variation based Which project would have been recommended by Mr. Harsh? Explain whether his opinion
Advance Capital Budgeting Decision 1353 Desc.
decision will change, if coefficient of variation is used as a measure of risk.
Inlationary condition - Suppose if Mr. Harsh has been asked to suggest approaches that may be used while
Advance Capital Budgeting Decision 1353 Desc.
measurement of future cash flows appraising the project under inflationary conditions. Explain these approaches.
Net Present Value of project - Risk With respect to information given in Issue 3, approximately the Net Present Value of the
Advance Capital Budgeting Decision 1408 MCQ
adjusted disc rate project proposed for making investment on the basis of Risks adjusted discount rate is:
Net Present Value of project - Risk With respect to information given in Issue 3, approximately the Net Present Value of the
Advance Capital Budgeting Decision 1408 MCQ
free rate project proposed for making investment based on Risk free rate is:
CESL was considering the replacement of its existing machine with a new machine. On the
Advance Capital Budgeting Decision Replacement of old machine 239 Desc.
basis of the inputs given in para (2) above, advise on the viability of the proposal
In respect of the inputs given in para (12) above, determine the incremental value due to
Business Valuation adoption of the new strategy adoption of the new strategy in line with the strategic financial management principles 179 Desc.
adopted by the company
Based on the Business Case details provided by Quick & Qual Sys, what would be the
Business Valuation Valuation of Co. - 2 Alternates 399 Desc.
potential value that can be placed for the Company?
Foreign Exchange Exposure And Risk Calculate the expected loss, if the hedging is not done. How the position will change, if the
Forward Cover - expected loss 1400 Desc.
Management firm takes forward cover?
Foreign Exchange Exposure And Risk
Hedging Foreign Exchange risk PTPL seeks your ADVISE on the option to be chosen to hedge the foreign exchange risk. 732 Desc.
Management
What effective rate will each end up paying if both have agreed to enter into a Swap
Interest Rate Risk Management Swap Arrangement 734 MCQ
agreement and split the resultant gain equally.
In the context of foreign exchange transactions dealt in by the branch, identify which of the
International Financial Management Nostro/vostro 888 MCQ
following statement is likely to be most appropriate?
Mergers Acquisitions & Corporate In respect of the acquisition by SFL (another subsidiary of CESL) of XYZ Ltd, you are required
Calculation of requirements asked 239 Desc.
Restructuring to calculate:
Mergers Acquisitions & Corporate
EPS and MP calculation With reference to the inputs given for Gangotri Limited as above 192 Desc.
Restructuring
Reverse merger #N/A #N/A MCQ
Restructuring
Explain the concept of reverse merger and advise the management of JKL the benefits, if any,
Reverse merger in case merger of JKL with Machine Industries Limited (MIL) is done following the suggestion 95 Desc.
Restructuring
of financial c
Reverse merger & it’s relevance What are the ideal considerations for a reverse merger and state its relevance to 'Magnum'? 447 Desc.
Restructuring
Mergers Acquisitions & Corporate What are the risk factors to be considered in the matter of merger of 'Magnum' with
Risk Factors 447 Desc.
Restructuring 'Yamuna'?
Advantages & Drawback of Mutual Explain any three advantages as well as drawbacks of investing in Mutual Funds as would
Mutual Funds 1358 Desc.
Fund have been narrated by Mr. Yashdeep.
Mr. P has invested ` 10 crores in SBA Life Arbitrage fund. Which of the following statements is
Mutual Funds Arbitrage funds 828 MCQ
most appropriate about arbitrage funds?
Mr. P is of the view that interest rates in economy are likely to rise. What likely impact it
Mutual Funds Impact of interest rate on NAV 829 MCQ
would have on NAV of debt fund? (Ignore other factors like duration of bonds etc
Mutual Funds NAV p.u. computation Calculate the NAV per unit of the Scheme Purnarth 1358 Desc.
How would you rate Quick & Qual Sys based on the information provided and elucidate
positive and negative aspects for
Others various positive and negative aspects that needs to be considered in the overall evaluation of 399 Desc.
investment
the investment by Din
Analyse working capital position of the firm vis-à-vis last year by discussing each component
Others Working-Cap of working capital cycle and overall working capital requirements of firm including effect of 881 Desc.
incident of
What is the difference between Risk Assessment, Due Diligence and Valuation exercises
Risk Assessment, Due Diligence and
Risk Management which you need to carry out on behalf of Ding Dong in connection with their potential 399 Desc.
Valuation
investment in Quick, & Qual
In context of formerly mentioned Business Risks, which chunk of Risk Management from the
Risk Management Risk identificaion/assessment 527 MCQ
following has been illustrated appropriately under Para 3C?
Types Of Risk Faced By An You are required to identify different types of Risk faced by Quick & Qual Sys and also assess
Risk Management 399 Desc.
Organization the Risk critically to facilitate investment decision by Ding Dong.
What would be typical categorisation of various securitisation instruments handled by Clean
Securitization Type of securitisation instruments 313 Desc.
and Sweep
Techniques Used in Company How will you carry out the company analysis of Paper Board Private G Limited using the
Security Analysis 303 Desc.
Analysis statistical techniques
In terms of Para 3, what shall be the fair value of Waqt Ltd;’s investment in Utpal Ltd;’s
Security Valuation Earning based Valuation 486 MCQ
shares, considering the method of Earnings- based valuation?
Calculate the Enterprise value of ARP Limited using entity value as the base under relative
Security Valuation Enterprise Value 95 Desc.
valuation method
Security Valuation Market Price & Maculay Duration Compute the current market price of the bond 28 Desc.
In continuation to MCQ no; 3, what would be the fair value of Waqt Ltd;’s investment in Utpal
Security Valuation Net Asset based Valuation 486 MCQ
Ltd;’s shares as per the method suggested by Mr; Mahipal?
From the description given in case study relating to finance brought by individuals from their
Startup Finance Startup - Theory question own resources and whose belief in promoting affordable education to all in the country and 836 MCQ
also improving
Startup Finance Startup - Unique MCQ on valuation Which of the following is not a factor to be considered for valuing a start-up like GrowFine? 838 MCQ
Being the referred Management Consultant, what are some of the ways you would suggest
Startup Finance Ways to finance start-up 186 Desc.
STAS management to finance their start-up?
Page 11
Audit By CA Rohit Chipper, AIR 17 CA Final, AIR 18 CA Inter Audit
Type
Topic Comment Section Question Initial wording Page
M/D
General Factors, Online Considering the inputs in Discussion 1 as an advisor, what factors would be considered by you in
Audit Strategy 170 Desc.
Shopping formulating the audit strategy of the Company
What is the duty cast upon branch auditor as far as reporting of matters regarding fraud is
Bank Audit LFAR duties 888 MCQ
concerned in LFAR?
Bank Audit LFAR stock audit How the matter concerning stock audit is to be reported by branch auditors in LFAR? 887 MCQ
The auditors want to change asset classification from “Standard” to “Sub-Standard” for M/s
Bank Audit NPA classification 889 Desc.
Poriborton Industries. Discuss.
Discuss what is understood by “quick mortality” and also list out reporting requirements in
Bank Audit Quick mortality respect of such accounts in LFAR to be submitted by the auditor. What could be probable 889 Desc.
significance of such
In respect employee and employer's contribution towards Employee State Insurance
CARO clause (vii)(a) contribution for the Company's units 1 to 3, explain whether the contention of the Chief 291 Desc.
Accounts officer is correct ?
What would be the implications in company’s audit report as a reporting by the company’s
CARO Clause vii - Statutory dues auditor, for default committed by Lotus private limited in non-deposit of service tax dues 991 Desc.
amounting to ` 30,00
In view of the discussions by the Finance Director with you, reference to unfavourable or
unfavourable or qualified - not
CARO qualified answers in the Companies (Auditor's Report) Order, 2016 (CARO, 2016) where 414 MCQ
avoidable
applicable may be avoided
Are there any matter(s) that need to be reported with unfavourable response under the
CARO unfavourable response Companies (Auditor's Report) Order, 2016-(CARO, 2016)? If so, explain the same with relevant 415 Desc.
rationale
For which appropriate authority, the Company is required to sign e-form for making an
Company Audit ADT 2,3 etc application, for approval to remove the auditor under the Companies Act, 2013. Provide your 1021 MCQ
answer with reference
Auditor not to Render Certain With reference to the information given under Para 5, due to what legal restrictions, Rao & Co.
Company Audit Sec 144 855 Desc.
Services would not be able to provide internal audit services to VPL?
Auditor not to Render Certain What is the correct course of action for CA Mehta with respect to the request made by Mr.
Company Audit Sec 144 970 MCQ
Services Somesh for providing services other than statutory audit and tax audit?
What should be C! !mit’s reply to his appointment for other miscellaneous services apart from
Auditor not to Render Certain
Company Audit Sec 144 appointment as the Statutory auditor as duly approved by the Board of Directors of Varsha Pvt. 1229 MCQ
Services
Ltd.?
While reporting on Companies (!uditor’s Report) Order, 2016 (the Order) under the head Other
Company Audit CARO 2020 Legal and Regulatory Requirements, the auditor included a statement on payment of managerial 628 MCQ
remuneration i
Motiana Ltd. (Client 9) asks your opinion to confirm whether or not cost audit is
Company Audit Cost Audit Rules 1206 Desc.
applicable to company.
Depreciation for Provision of In the light of the information given in para (h) above, analyze the issues involved and state how
Company Audit Sec 123 327 Desc.
Dividend Payment the Auditor should decide on this matter.
With reference to inclusion of CA Bhavesh, under Para 3A, as an Auditor Partner in the Firm M N
Company Audit Disqualification Sec 141 Shah & Co., Chartered Accountants, what is your view-point regarding the same? Will M N Shah 526 MCQ
& Co., Char
Eligibility, qualifications and Sec Is the contention of Mr. M correct regarding the disqualification of ABC & Associates as
Company Audit 1123 MCQ
disqualifications of auditors 141(3) statutory auditors in RA Ltd? Why?
Eligibility, qualifications and Sec141(3)
Company Audit How many additional number of company audits can be accepted by M/s ABCD & Co.? 1103 MCQ
disqualifications of auditors (g)
Eligibility, qualifications and Assuming a circumstance where ABC & Associates is disqualified to be appointed as a statutory
Company Audit disqualifications of auditors - auditor of RA Ltd., due to a relative defined under Section 2(77) of the Companies Act, 2013, 1123 MCQ
Sec141(3) who has boug
Whether M/s ABC can accept the new statutory audit assignment of Big Private Limited as
Sec
Company Audit Eligiblity & Rotation of Auditor suggested by the management of Big Private Limited. Explain the answer with relevant 1193 Desc.
141+139
provisions of Companies Act
Manner and Procedure of
Selection and Appointment of
What manner and procedure shall be followed in RA Ltd for selection and appointment of ABC &
Company Audit Auditors: Rule 3 of Companies 1124 Desc.
Associates? Refer Para (2).
(Audit and Auditors) Rules
[CAAR], 2014
As an auditor of Rising Star Limited, state the matters to be reported under Rule 11 of the
Company Audit Matters to be reported Rule 11 Companies (Audit and Auditors) Rules, 2014? What are those matters and how would you 415 Desc.
report them?
Sec
Company Audit Max no of Audit How many further audits of unlisted public companies can be held by Mr. Amrit? 1279 MCQ
141(3)(g)
Company Audit Max no of Audit Provide the maximum number of !udits remaining in the name of “PQRST & Co;” 1220 Desc.
As per which section of the Companies Act, 2013 corresponding to Companies (Audit and
Company Audit Removal of Auditor Sec 140 auditors) Rules, 2014, the Company is required to pass a resolution at its meeting to remove 1021 MCQ
auditor from his offi
In case of client 6, the auditor has proposed another person of firm as his representative in the
Company Audit Representative in AGM Sec 146 1205 Desc.
annual general meeting. Whether auditor can do such kind of arrangement?
Due to some unavoidable reasons YZ and Associates resigned from being the auditor of HW
Company Audit Resignation of Auditor Limited for the financial year 2019-20. Keeping the above situation in mind answer the 582 Desc.
questions that follow:
Sec If Mr. H, an individual Chartered Accountant, is appointed as an auditor of Stable and Efficient
Company Audit Rotation of Auditor 1211 MCQ
139(2) Limited, for how many terms of five consecutive years it can be so appointed:
If WY and Associates, a Partnership Firm of Chartered Accountants, is appointed as an auditor of
Sec
Company Audit Rotation of Auditor Stable and Efficient Limited, for how many number of terms of five consecutive years it can be 1211 MCQ
139(2)
so appoi
Sec
Company Audit Rotation of Auditor With respect to applicability of Rotation of Auditor, answer the questions that follow: 1212 Desc.
139(2)
Page 12
With reference to the information given under Para 4, what was the responsibility of Mr.
Company Audit SA 330 Praveen in the given case with respect to his planning to use the audit evidence from the 855 Desc.
previous audit and wh
With reference to the information given under Para 4, due to presence of what type of factors,
Company Audit SA 330 Mr. Praveen might have considered to retest the controls and not to rely upon the audit 855 Desc.
evidence obtained
Company Audit Tax Audit How many further tax audits can be accepted by Jaiswal & Co. for F.Y. 2022-23? 1279 MCQ
Digital Auditing And With reference to the information given in Para 7, provide some illustrative steps for performing
blockchain-based system 1358 Desc.
Assurance audit of the blockchain-based system.
Due Diligence, invetigation Contents of a Due Diligence CA Vani would conduct the Due Diligence work w.r.t ABC Ltd. as required by Mr. Hari Mehta.
1150 Desc.
& Forensic Audit Report Help her list outthe contents of Due Diligence Review Report that she may submit.
Due Diligence, invetigation What type of Due Diligence was performed regarding Competent and Capable Limited for
Due Diligence - Type 1211 MCQ
& Forensic Audit analyzing its financial information and account books:
Due Diligence, invetigation In order to understand the complete working environment of Competent and Capable Limited a
Due Diligence - Type 1212 MCQ
& Forensic Audit type of Due Diligence was performed. This type of due diligence is known as:
Due Diligence, invetigation Discuss the differences between the types of audit as carried out by CA Rupali & CA
Forensic V/s Other Audit 1315 Desc.
& Forensic Audit Bhawanmeet.
Start-up GrowFine is also planning to approach other investors to fund its business
Due Diligence, invetigation
Startup - Due diligence requirements. What specific points shall be considered while carrying out due diligence of such 839 Desc.
& Forensic Audit
start-up for picking
With reference to Para 3D, All-in-One Option Ltd. does not have Internal Audit system. The
Internal Audit Applicability Sec 138 Board of Directors wants to appoint however they were iffy on the provisions of Companies Act 527 MCQ
2013, whether i
During the financial year 2020-21, Cheerful & Healthy Limited is required to appoint an internal
Internal Audit Applicability - Unlisted Public Sec 138 569 MCQ
auditor because of which of the following reason:
Applicability -Listed Co.- Sec- Calm & Helpful Private Limited is required to appoint an internal auditor during the financial
Internal Audit 570 MCQ
138 year 2020-21 because:
Please also explain how HVCL shall consider the warranty clause in the supplies of equipment
Internal Audit Applicability of Internal Audit: 143 Desc.
made to ABIL in preparation of computation of taxable income for A.Y. 2018-19?
Differentiate between the two types of Audit functions as performed by CA Ravi Mehta and CA
Internal Audit Internal Audit v/s Exrernal Audit 1292 Desc.
Hariharan as discussed in the above case of Annapurna Trading Pvt. Ltd.
Being Lakshya, how you would strengthen the Company’s internal controls as suggested by the
Internal Controls - Expense
Internal Audit management to make the system robust by framing the company’s policy with respect to 991 Desc.
reimbursement
expense reimbursement?
Being Lakshya, how you would strengthen the Company’s internal controls as suggested by the
Internal Controls - Expense
Internal Audit management to make the system robust by framing the company’s policy with respect to 991 Desc.
reimbursement
expense reimbursement?
AAI plans to enter into a joint venture with PGL from 1st April, 2024. TAPL is new vehicle for this
Internal Audit Joint Venture 1365 Desc.
purpose. What role internal audit function can play in such a joint venture?
The scope of Internal Auditing is very broad and involves continuous and critical appraisal of the
Internal Audit Scope of Internal Audit functioning of an entity with a view to suggest improvements and thereto do the value addition. 527 MCQ
Para
The management of PTPL has developed a strong internal control in its accounting system in
Internal Control Internal Control Quesstionaire such a way that the work of one person is reviewed by another. Since no individual employee is 729 MCQ
allowed to han
Explain about the Income tax audit provisions applicable to a charitable trust & help CA Lalita in
Others Audit Program of Trust Sec 11A chalking out an !udit Programme to carry out the audit of “Serving the Poor” as requested to 1269 Desc.
her by t
control accounts and subsidiary As a Statutory Auditor, how would you deal when you find huge differences between the
Others 664 Desc.
records control accounts and subsidiary records?
What all matters are discussed in the Management Discussion and Analysis Report? What is the
Management Discussion and
Others responsibility of CA Om with respect to the request of Mr. Rahul asking CA Om to verify the non- 1252 Desc.
Analysis Report
financial
The Cashier committed fraud and absconded with the proceeds. The Chief Accountant was
unaware of when the fraud occurred. During the audit, the auditor failed to discover the fraud.
However, after completion of the audit, the Chief Accountant discovered the fraud, and an
investigation indicated that the auditor did not exercise proper skill and care, performing the
work in a desultory and haphazard manner. Which of the following statements accurately
Professional Ethics Auditor failed to discover Fraud characterize the situation and the subsequent action: (i) The auditor exhibited due diligence and 1332 MCQ
careful conduct (ii) Clause (7) of Part I of Second Schedule to Chartered Accountants Act, 1949
and SA 240 are relevant in this situation (iii) The auditor failed to plan and perform the audit
with an attitude of professional skepticism (iv) A Chartered Accountant in practice will be
deemed guilty of professional misconduct based on clause (7) of Part II of the second schedule
to Chartered Accountants Act, 1949
What should be Mr; D’s response to Dhanwan Bank’s requirement and why? ST!TEMENT 1: He
Clause (1) of Part I of the
Professional Ethics should deny the Bank’s request if Purva Ltd; does not permit for sharing such information; 1103 MCQ
Second Schedule
STATEMENT 2: Unless ot
With reference to information given under Para 1, (a) Whether Chandhriv Ltd. could have made
Clause (10) of Part I of Second
Professional Ethics such contribution to Krut Foundation? (3 Marks) (b) Whether Mr. Matvar can be held guilty of 461 Desc.
Schedule
professional m
Clause (10) of Part I to First
Professional Ethics Whether Auditors' remuneration as proposed by the shareholders is acceptable to you 414 MCQ
Schedule
Clause (11) of Sch I + Regulation
Professional Ethics 0 963 MCQ
190A
Clause (4) of Part-I of Second Whether Mr. Harsh can accept the auditorship of Supatra Foundation as discussed under Para
Professional Ethics 522 MCQ
Schedule 5?
Whether the creation of website in aforesaid manner amounts to violation of provisions of
Professional Ethics Clause (7) of Sch I 961 MCQ
Chartered Accountants Act, 1949 and its relevant rules & regulations?
With reference to the case study, comment on whether communication made with the previous
Clause (8) of Part I of the First
Professional Ethics auditor is in line with relevant clause of Schedule to the Chartered Accountants Act, 1949 and 179 Desc.
Schedule
Code of Ethics.
Page 13
With reference to the information given in Para 3, before signing the tax audit report, CA.
Clause (8) of the Part I of the Yashdeep sent a registered post letter to the previous auditor and obtained the postal
First Schedule acknowledgement. Will CA. Yashdeep be held guilty of professional misconduct under the
Chartered Accountants Act, 1949?
Comment on the reply given by CA Kumar to Mr. Dutta in response to his request of not
Professional Ethics Clause 5,7,9 following Standards on Auditing while carrying out the audit of their Company in terms of 1261 Desc.
provisions of the Charte
Explain about the professional misconduct as defined in Part I of the First Schedule to the
Clause 8 of Part I of the First
Professional Ethics Chartered Accountants Act regarding accepting a position as an auditor previously held by 128 Desc.
Schedule
another chartered
!nkit doesn’t wish to maintain Books of !ccount for his Professional earnings on the ground
Maintenance of books of
Professional Ethics that his income is less than the limits prescribed under the relevant section of the Income Tax 1170 MCQ
accounts - Chapter V
Act, 1961 un
CA Ankit wants to put the name board of the Firm with his name as a Partner in the Firm, if
Professional Ethics Name-Board Sec 27 admitted to his Father's Firm as a Partner, at the Place of his residence. He can put up a name 1170 MCQ
board of -
With respect to information given in Para 3, Whether Mr. Harsh is guilty of professional
private tutorship - Regulation
Professional Ethics misconduct in providing private tutorship to Mr. Jaman along with some other aspirants as 1351 MCQ
190A
described in case study?
Had C! Vivek accepted the Offer of the special treatment from XYZ Ltd;’s Director, he would
Professional Ethics Self-Interest Threats 1170 MCQ
have been subject to -
Types of Misconduct:
In the background of provisions of the Chartered Accountants Act, 1949, explain the types of
Professional Ethics Professional or Other 14 Desc.
misconduct. Also, comment whether Mr. Safe is guilty of any professional misconduct
Misconduct
Website - Council Guidelines for With reference to the information given in Para 2, whether, website designed for YK &
Advertisement, 2008 Associates is in compliance with guidelines issued by the Council in this regard:
SA 210 Sr. mgt Passive Income’ as referred to in the !BOI test for a Foreign Company’s taxation refers to: 644 MCQ
You are required to guide CA Ms. Shweta how she should approach in case of JKL when the
!uditor’s Responsibilities
SA 240 management has neither provided the investigation report nor any representation in respect of 95 Desc.
Relating to Fraud
suspected fraud
Assume that during course of audit, CA Madhusudan suspects that there may be non-
SA 250 non-compliance by NGO - FCRA compliance by NGO in relation to some aspects of FCRA, 2010. How he should proceed in such a 1390 Desc.
situation?
role and the responsibility of What is the role and the responsibility of the statutory auditors in connection with the laws and
SA 250 383 Desc.
the statutory auditors regulations under the applicable auditing standards in India / Indian Companies Act, 2013 ?
Audit Procedures for show Compute the gain from disposal of shares of QR Ltd, which XYZ Limited has to record in its
SA 250+NOCLAR 37 Desc.
cause notice received Consolidated Financial Statements.
Provide a brief summary of items to be reported to those in-charge of governance, where
SA 260 Breif Summary for TCWG applicable, based on your audit findings for Rising Star Limited, duly considering the Auditing 415 Desc.
Standards and th
disagreement with other joint As a joint auditor of Zemka Ltd, how should CA. Gudia address the disagreement with other joint
SA 299 37 Desc.
auditors auditors? Explain in the background of relevant Standards on Auditing.
In your view what are the responsibilities of the Joint Auditors appointed under the Companies
Responsibilities of the Joint
SA 299 Act, 2013 with respect to division of work, reliance on the work carried out by other joint 308 Desc.
Auditors
auditors, tre
!uditors are required to assess the risks of material misstatement at two levels”; Briefly explain
SA 315 Assessment of ROMM the same and state the procedures to be followed by Komal regarding validity of account 897 Desc.
balances rela
Various risk elements have been illustrated in Para 3B and Para 3C above. These risks can be
SA 315 Audit Risk - inherent Risk higher or lower, from time to time. Which of the following major component of Audit Risk is 527 MCQ
highlighted the
On the basis of overall description of case study, what factors should be considered by CA
Factors for assessing Audit Risk -
SA 315 Madhusudan while assessing audit risk of DBS Trust during course of audit for financial year 1390 Desc.
FCRA
2023-24?
Aircrafts operated by KG Airlines, whether owned or leased require periodic maintenance. These
are high value costs. As of the reporting date, provisions need to be made for these expenses
SA 315 Type of Risk based on number of variable factors and assumptions, likely utilization of the aircraft, expected 1331 MCQ
cost of these high value maintenance on a future date, condition of the aircraft engine etc. Due
to the complexity and subjectivity of these conditions, auditors rely on management
What should CA Nitin advise CA Krit to do when the latter is stuck in the revision dilemma of
SA 320 Materiality- Revision 919 MCQ
materiality levels set earlier?
With reference to information given under Para 1, as a user auditor i.e. as an auditor of Upal
Controls at Sub-Service
SA 402 Ltd., what information would you obtain about controls at a sub-service organization, 459 Desc.
Organisation
Paryupasna HR & Acc
With reference to information given in Para 4, discuss from what sources CA Devanshi can
audit evidence - export obtain reliable audit evidence in respect of the export revenues particularly for the four export
SA 500 1399 Desc.
revenues invoices of current year; How can she challenge management’s assertion regarding the
completeness of export revenues for the F.Y. 2023-24?
verification of defalcation of With reference to the inputs provided in the Gist of Discussion-1 above, what will be your areas
SA 501 246 Desc.
inventory of verification and the procedure to be followed for verification of defalcation of inventory?
As a Statutory Auditor state with reasons whether you would accede to the request of the Chief
SA 505 Confirmation in case of Dispute 664 Desc.
Accountant not to seek confirmation from certain trade payables citing disputes.
What are the factors to be considered for using negative confirmation requests in the scenario
SA 505 negative confirmation requests 216 Desc.
mentioned in the audit observation (1)
Inquries from manangement ENUMERATE some circumstances, change of which would prompt inquiries from the
SA 540 721 Desc.
abt changes in Acc Estimate management of RTL.
CA Grace Pahwa, at the start of the Statutory Audit of Mahajan Food Products Ltd. deliberates
SA 550 Related Party requirements to her Audit team on how to conduct the audit as per the relevant requirements of the 1305 Desc.
Companies Act and SA
Page 14
In the light of the information provided in para (b) above, analyze the issues involved and give
SA 560 revised Audit Report your views as to whether or not the Auditors could accede to the request of the Board of 327 Desc.
Directors for
With reference to information given in Para D, analyse the issues involved and give your views
SA 560 Revised Audit Report 1404 Desc.
as to whether or not the auditor, DRT & Co., could accede to the request of the management
Based on the audit observation (10), state the matters where specific enquiry may be conducted
SA 560 specific inquiries 216 Desc.
to evaluate subsequent events.
How should M/s XYZ, Chartered Accountants indicate in its report for responsibilities of their
Work of other auditor
SA 600 work and M/s ABC, Chartered accountants work in the course of audit, so that the concerned 1023 Desc.
considerations
stakeholders c
With respect to information given in Para 4, engagement partner sought direct assistance from
direct assistance of Internal
SA 610+505 Mr. Harsh, internal auditor. Advise as to whether he is permitted to do so in accordance with 1352 MCQ
Auditor
relevant Standards on Auditing.
Referring the Independent !uditor’s Report to the members of VayuSanchar Limited, the
SA 700 Audit Report auditor has included a section with the heading “!uditor’s Responsibilities for the !udit of the 629 MCQ
Financial Stateme
Referring the presentation made by the auditor regarding Emphasis of Matter paragraph in the
SA 700 Audit Report !uditor’s Report, state the conditions for including such paragraph; !lso give certain examples 629 Desc.
of cases wh
SA 700 Consolidated FS Non-disclosure of Earnings Per Share (EPS) in the financial statements of ATPL is: 662 MCQ
Regarding the overdue inter-corporate deposits, ATPL has disclosed in the notes to accounts in
SA 700 Consolidated FS Note No. 15 in Schedule No. 21 stating that Rs. 50 lakhs is overdue from XYZ Co. Ltd. and the 664 MCQ
said Compan
What appropriate term of the following would be used for auditor’s observation on the analysis
SA 701 Audit reports 1011 MCQ
of issue regarding Investment property in the audit report as per relevant standard on auditing?
From the information given in Para II, where key audit matters have been addressed by the
SA 701 KAM auditors, describe principal audit procedures that may have been followed by the auditor 623 Desc.
regarding material un
The previous Statutory Auditors of CESL made an adverse statement in their certificate as the
SA 705 Adverse or Qualified Statement Audit Committee of the Company did not meet four times a year. State a few other 239 Desc.
circumstances that might
Referring Para 5, what kind of opinion should the statutory auditors issue in the case of Samya
SA 705 Disclaimer Opinion - draft 516 Desc.
Ltd.? Please draft the same.
With reference to information given under Para 4, what kind of opinion should the statutory
SA 705 Disclaimer Opinion - draft 463 Desc.
auditors issue in such case?
information considered as Certain information considered as confidential by the Management for sensitive purposes can
SA 705 414 MCQ
confidential be rightfully denied to the auditors.
Summarize the material mis-statements/disclosure deficiencies, if any, on the Management
Misstatement in few matters of
SA 705 prepared financial statements which could impact the true and fair view of the financial 216 Desc.
Financial Reporting
statements. Please pro
In respect of the expenses not applied towards the objects of the Trust referred in a para (a),
separate report and not
SA 705 examine whether the action of the previous Auditor by informing the Board of Trustees through 327 Desc.
qualifying in the Audit Report
a separate
Considering the Balance Sheet of VayuSanchar Limited and ‘Other information’ as provided
SA 710 Other Information along with the facts mentioned below, construct a statement of cash flows under indirect 630 Desc.
method. (i) Income tax
Fresh Foods has approached Indi Bank Ltd. for a term loan of ` 5 crores. For this they need to
Prospective Financial
submit prospective financial statements. Fresh Foods has approached CA Anil for examination of
SAE 3400 Information and Other 1394 MCQ
the prospective financial statements that it has prepared. Which of the following statements is
Assurance Services
not true regarding examination of prospective financial statements by CA Anil?
Page 15
DT By CA Rohit Chipper, AIR 17 CA Final, AIR 18 CA Inter DT
Type
M/D
One tax expert pointed out to Rabbot & Co that it cannot seek ruling from AAR on the said
Advance Ruling Adv Ruling - Who can apply Sec 245N 1177 MCQ
issue. Kindly let us know what the actual position of law is-
With respect to information given in Para 7, examine whether the action of the
Appeals & Revision Revision of orders Sec 263 1353 Desc.
Commissioner in case of Khwab Pharma Ltd.is justified as to the second notice.
Sec In respect of the information provided in para (g) above, please answer the following
Appeals & Revision Revision of orders 186 Desc.
263+264 questions:
Sec In respect of the information provided in para (j) above, please answer the following
Appeals & Revision Revision of orders 276 Desc.
263+264 questions with reference to the latest provisions applicable to A.Y. 2019-2020:
Assessment Of Trusts And
Business Trust - Dividend With reference to information given under Para 1, the dividend component of income
Institutions, Political Parties And 462 MCQ
Income from Liyak Ltd., distributed to unit-holders Raman and Suketu -
Other Special Entities
Assessment Of Trusts And With reference to information given under Para 1, if Liyak Ltd. exercises option under
Business Trust - Dividend
Institutions, Political Parties And section 115BAA, then, the dividend component of income from Liyak Ltd., distributed to 463 MCQ
Income
Other Special Entities unitholders Raman and Suke
Assessment Of Trusts And With reference to information given under Para 1, interest received by the business trust
Business Trust - Interest
Institutions, Political Parties And from investments in unlisted debentures of real estate companies and distributed to unit 463 MCQ
received
Other Special Entities holders would be –
What should be C! Lalita’s advice w;r;t the correct treatment of the cost of new building
Institutions, Political Parties And Capital asset Sec 11 1269 MCQ
purchased by ABC Foundation Ltd. in its books of account under the Income tax law?
Assessment Of Trusts And What would be the amount of capital gains arising as a result of transfer of capital asset by
Institutions, Political Parties And Capital asset Sec 11 ABC Foundation Ltd. and what proportion would be deemed as application of Income 1269 MCQ
Other Special Entities towards charitable object
Assessment Of Trusts And What should be proper advice of CA Madhusudan to Mr. Z regarding implications of
Institutions, Political Parties And Capital Gain in case of Trust Sec 11 proposed sale of a capital asset and acquisition of another capital asset as described in 1390 Desc.
Other Special Entities case study?
Assessment Of Trusts And You are required to calculate the tax liability in the hands of “Serving the Poor” trust
Sec 115
Institutions, Political Parties And Exit Tax arising as a result of merger with MSNV Pvt. Ltd. with the help of the information given in 1269 Desc.
TD
Other Special Entities the Case scenario a
Assessment Of Trusts And Mr. Z, office bearer of trust, has approached CA Madhusudan to seek his advice regarding
Institutions, Political Parties And Registeration of Trust Sec 12 modalities of renewal of registration of trust under income tax law. Which of following 1389 MCQ
Other Special Entities advice rendered by CA Madhusudan is in accordance with provisions of law?
Referring Para 4, determine the taxable income of Supatra Foundation for the assessment
Institutions, Political Parties And Total Income calculation 522 Desc.
year 2022-23.
Assessment of Various Entities
Sec With reference to Para 4, what shall be the amount of tax payable by PBL on the buy-back
(MAT/ AMT/ AOP/115BAA/ Buy-Back Tax 516 MCQ
115QA of its shares if the net taxable income for P.Y. 2021-22 is ` 1.5 crore?
Partnership)
Sec
(MAT/ AMT/ AOP/115BAA/ carbon credit The tax liability due to sale of carbon credit would be 430 MCQ
115BBG
Partnership)
The income of the AOP in which the Company is a member is chargeable to tax
(MAT/ AMT/ AOP/115BAA/ income of the AOP 432 MCQ
at_____________ (tax rate).
Partnership)
What are the essential conditions for claiming exemption for newly established units in
(MAT/ AMT/ AOP/115BAA/ MAT - Book Profit 432 Desc.
Special Economic Zones
Partnership)
With reference to the information given in Para 4, which of the following cannot be
Assessment, Search & Survey Adjustments to the returned Sec
adjusted in computation of total income of Adarsh Tech Ltd. while processing the return of 1357 MCQ
Procedure income 143(1)(a)
income for A.Y. 2024-25?
Discuss the provisions of section 147/148 of the Income Tax Act, 1961, and evaluate
Assessment, Search & Survey Sec
Assessment whether Assessing Officer was justified in completing the Assessment Proceedings u/s 270 Desc.
Procedure 147+148
147/143(3) of the Income Tax Ac
Sec
Assessment, Search & Survey Assessment - Amendment in In the light of the information given in summary of discussion (C) - 'Other Inputs' above,
147+148+ 282 Desc.
Procedure this question provide the course of action required on the part of the company,
148A
Sec
Assessment, Search & Survey
Authorizing Officer Jurisdiction 132(9A)/( With reference to Para 2, answer the following in terms of Income Tax Act, 1961: 496 Desc.
Procedure
4A)
Assessment, Search & Survey Explain the compliance, M/s. Telecom Inc., shall have to make under the Income Tax Act,
Compliance for Foreign Co/NR 148 Desc.
Procedure 1961 while filing its Return of Income for its first financial year ended 31-3-2021
Assessment, Search & Survey With respect to information given in Issue 5, is Mr. Suarabh required to file his return of
Filing of ROI by individual 1408 MCQ
Procedure income for A.Y.2024-25, and if so, why?
Assessment, Search & Survey With reference to Para 2, discuss the correctness of the action taken by Assessing Officer in
Income Escaped assessment Sec 148 496 Desc.
Procedure respect of notice issued to Pranidhan Ltd.
Sec
Assessment, Search & Survey Penalty - non filing of Return of Kindly state what is the penal consequences which Mr. Aditya will have to follow due to
234F+276 578 MCQ
Procedure Income delay in filing return of income in India.
CC
Assessment, Search & Survey Persons authorized to verify Who is authorized for the purpose of verifying the Return of Income of Cheerful & Healthy
Sec 140 570 MCQ
Procedure return of income Limited
Suppose that Managing Director and five directors of Cheerful & Healthy Limited are on a
Assessment, Search & Survey Persons authorized to verify
Sec 140 visit outside India and none of them can verify the Return of Income of the company. In 570 MCQ
Procedure return of income
such situation who amon
Assessment, Search & Survey Persons authorized to verify
Sec 140 For Calm & Helpful Private Limited, who will be authorized to verify the Return of Income: 570 Desc.
Procedure return of income
Assessment, Search & Survey Evaluate the matters arising out of the income tax raid of Swatch and its allowability under
Raid 313 Desc.
Procedure the Income Tax Act, 1961.
By what date, Vratam Ltd. should have filed its objections in respect of draft order of
Assessment, Search & Survey Reference to dispute resolution
Sec 144C assessment and when the A.O. should have completed the assessment if the DRP would 488 MCQ
Procedure panel
have issued its directions to
Page 16
By what date, DRP should have issued its directions to the A.O., if Vratam Ltd. would have
Assessment, Search & Survey Reference to dispute resolution
Sec 144C filed its objections on the last date and on whom, such directions of DRP are binding? 488 MCQ
Procedure panel
Refer Para 3.
Assessment, Search & Survey Sec With reference to the information given in Para 4, the time limit for service of notice for
Regular assessment 1357 MCQ
Procedure 143(2) regular assessment under Income-Tax Law in this case is –
Assessment, Search & Survey Which form of Income tax return, Shivani is required to file of herself, for the relevant
Returns 1022 MCQ
Procedure assessment year
Provide an answer to the following questions relating to Special Audit of Cheerful &
Special Audit Sec 142 Healthy Limited: (a) Chartered Accountant for the purpose of Special Audit would be 570 Desc.
Procedure
appointed by whom?
Assessment, Search & Survey With respect to information given in Para 7, which of the following statements is correct in
Survey Sec 133A 1352 MCQ
Procedure respect of the survey conducted at the business place of Khwab Pharma Ltd.?
Sec With respect to information given in Para 7, which of the following statements is correct as
Survey 133A+292 to making presumptions in relation to the survey conducted at the business place of 1353 MCQ
Procedure
C Khwab Pharma Ltd.?
Assessment, Search & Survey Discuss the provisions of section 153C of the Income Tax Act, 1961 and evaluate in the
Time limit Sec 153C 270 Desc.
Procedure light the assessment order passed by the Assessing officer.
Time limit for completion of Sec Referring Para 3, by what date the A.O. should have completed the assessment u/s 143(3)
assessment, reassessment and 153(4)/ of the Income Tax Act, 1961, if no draft order was required to be forwarded to Vratam Ltd. 488 MCQ
Procedure
recomputation 92CA(3A) and by what date, the
With reference to information given under Para 1, in respect of short-term capital gains of
Business Trust - Cap Gain Tax
Capital Gains `5 lakh on sale of listed shares of Indian companies and ` 8 lakh on sale of developmental 462 MCQ
rate
properties
What amount shall be considered as the full value of consideration for the purpose of
Capital Gains Capital Gains 621 MCQ
calculation of income under the head Capital Gain as per Income Tax Act, 1961?
Mr. P has also plan to invest further amount of `10 crores in MTL Low Duration Fund and
Capital Gains Debenture Sec 50AA Bon India Low Duration Fund taken together in FY 2023-24. What are tax implications on 831 Desc.
redemption of above inves
!s regards Mr; Christopher’s enquiry regarding purchase of another residential property In
Capital Gains Exemption Sec 54EC India and investment in bonds of NHAI (National Highways Authority of India) and filing of 829 MCQ
income tax return,
In the financial year 2022-23, there was a shifting of industrial undertaking of Stable and
Capital Gains Exemption Sec 54G Efficient Limited from urban area of State H to rural area of State H of India. In this regard 1212 Desc.
answer the qu
Mr- X sold a Residential Property and wants to invest his Capital Gains in the Shares of
Capital Gains Exemption from CG Haryali Pvt. Ltd. for clamming exemptions u/s 54GB . He is subject to the condition that he 638 MCQ
holds more than 50%
During the financial year 2019-20, HW Limited transferred a land and invested the 70% of
Exemption Land sold and
Capital Gains Sec 54EC the amount of capital gain arising from transfer of land. Keeping in mind the scenario given 581 Desc.
Investment made
in the case study,
Sec 54 &
Capital Gains Exemption on property sold Compute the capital gain in respect of property sold in point (4) of the case study 100 Desc.
54EC
What advice CA Preesha should have given to Mr. Saransh with respect to the capital gain
Capital Gains Gold Transfer 1113 MCQ
tax liability in case of transfer of gold by the latter?
Capital Gains LTCG - unlisted shares Sec 112 For a domestic company, the long-term capital gain on sale of unlisted shares is taxable at 431 MCQ
Capital Gains Property sale Calculate the amount of capital gain for sale of property executed on 01-12-2022. 1092 MCQ
If the Reverse Merger scheme is duly approved under the Companies Act, 2013 evaluate
Capital Gains Reverse Merger effect 447 Desc.
the impact of the same under the Income Tax Act, 1961 for 'Yamuna
Calculate the amount of capital gains for sale of building as per Income-tax Act, 1961 which
Capital Gains Sale of Building 1192 MCQ
the Rudra Private Limited needs to compute for A.Y. 2023-24?
How much gain/ loss would be chargeable to tax under the head ‘Capital Gain’ as per
Capital Gains Sale of Land 622 MCQ
Income Tax Act, 1961?
Sale of Plant & Machinery - The amount of capital gain before exemption arising on transfer of Land for Stable and
Capital Gains 1211 MCQ
STCG Efficient Limited for the A.Y. 2023-24 will be:
Determine the tax liability, which would arise to Creations Ltd. from slump sale assuming it
Capital Gains Slump Sale Sec 50B 962 Desc.
does not opt for section 115BAA.
With reference to Para 2, ascertain the tax liability, which would arise from slump sale to
Capital Gains Slump Sale Sec 50B 527 Desc.
Sensque Technologies Pvt. Ltd., assuming it does not opt for Section 115BAA.
Compute the capital gain for the A.Y. 2023-24 with respect to the slump sale made by M/s
Capital Gains Slump Sale 1114 Desc.
Sunstar Enterprises
What would be your advice as a tax-consultant to make the restructuring plan of the
Capital Gains Slump Sale - Not a Transfer Sec 47(iv) 527 Desc.
company more tax-savvy, without changing the amount of sale consideration?
Suggest modification of the restructuring plan of Creations Ltd., without changing the
Capital Gains Slump Sale Suggestion Sec 47 962 Desc.
amount of sales consideration, so as to make it more tax efficient.
Since Mr. P wants to redeem his entire portfolio in month of October 2023, what should be
Tax on redemption of Mutual
Capital Gains Sec 50AA the advice of CA. M to him regarding income tax implications of such redemption? (Do not 831 Desc.
funds
calculate income tax
Calculate the amount of Capital Gain chargeable to tax in A.Y. 2020-21 for: (a) STYZ Limited
Capital Gains Transfer of Machinery on Machinery 20 transferred to SZ Limited on 11/7/2019. (b) SZ Limited on Machinery 34 615 Desc.
transferred to STYZ
Compute the amount of advance tax payable along with due date for payment of
Deduction, Collection and Advance tax Liability
instalments of advance tax during the previous year 2022-23 as per the provisions of 1012 Desc.
Recovery of tax (TDS/TCS) computation
Income-tax Act, 1961.
Deduction, Collection and Brokerage paid for purchase of The Payment made to Good Luck Home Solutions requires TDS to be deducted at the rate
Sec 194 H 1092 MCQ
Recovery of tax (TDS/TCS) immoveable property of?
Deduction, Collection and With respect to information given in Issue 4, compute the deduction available to Ms. Disha
Deduction Sec 80C 1409 Desc.
Recovery of tax (TDS/TCS) under appropriate provisions of the Income-tax, 1961 for A.Y. 2024-25.
Deduction, Collection and How much deduction, Lotus Private Limited can claim under section 80G for donations
Donation to NGO Sec 80G 990 MCQ
Recovery of tax (TDS/TCS) contributed to NGO ‘UTHO’?
Deduction, Collection and Haryali Private Ltd.'s total turnover & Profits and gains from its eligible Start-up Business
Eligible Business Sec 80IAC 638 Desc.
Recovery of tax (TDS/TCS) turn out to be as follows for the P.Y. 2018-19 to P.Y. 2024-25:
Page 17
Deduction, Collection and Sec The approximate amount of additional deduction in respect of new employees as per
Employment - new deduction 585 MCQ
Recovery of tax (TDS/TCS) 80JJAA relevant provisions of Income Tax Act works out to:
Deduction, Collection and Sec What amount of total deduction would be available to Saman Pvt. Ltd. w.r.t. employee
Recovery of tax (TDS/TCS) 80JJAA cost under the Income tax Act,1961 for the Previous Year 2022-23?
Deduction, Collection and Sec The monetary limit for salary per month to new employee for the purpose of claiming
Recovery of tax (TDS/TCS) 80JJAA deduction under section 80 JJAA under the appropriate provision
Deduction, Collection and Sec For client 7, at what rate, TDS would have been deducted by Bank in case of Reshma’s
Failure to furnish PAN 1204 MCQ
Recovery of tax (TDS/TCS) 206AA income in fixed deposit?
Deduction, Collection and Calculate the fees on late filing of TDS return if any which the company has to pay as per
fees on late filing of TDS return 1093 MCQ
Recovery of tax (TDS/TCS) facts mentioned in case study.
In which form, the details regarding transaction for sale of building and its corresponding
Deduction, Collection and
Form 26QB TDS is required to be furnished by purchaser of building and how much time is to be taken 1192 MCQ
Recovery of tax (TDS/TCS)
for its filing?
Deduction, Collection and Calculate the amount of interest, Rudra Private Limited is required to pay for late payment
Form 26QB 1192 MCQ
Recovery of tax (TDS/TCS) of TDS to the credit of Central Government.
As per relevant Section of TCS, the amount of TCS collected by seller shall be paid to the
Form 27EQ and TDS due date credit of Central Government within _______ from the last day of the month in which the 1069 MCQ
collection is made. T
If Ideal Fabrics Ltd. makes sale to Madhu Textiles of ` 18,00,000 (exclusive of GST @ 18%)
GST to be added for TCS on 18.02.2023 in addition to the sales data given in the case study, what would be the 1070 MCQ
amount of TCS to be co
Sec
Deduction, Collection and 194DA+Se With reference to Para 2, examine the applicability of the provisions of TDS in cases of
Insurance 494 Desc.
Recovery of tax (TDS/TCS) c-10(10D employees of Asayam Ltd. in respect of life insurance policies taken by them.
)
Deduction, Collection and Sec- With reference to information given under Para 1, in respect of the component of interest
Interest by Business Trust 462 MCQ
Recovery of tax (TDS/TCS) 194LBA income from Liyak Ltd. distributed by the business trust to unit-holders Raman and Suketu -
Sec
Deduction, Collection and Interest on Loan for House What shall be the total eligible deduction in respect of interest on housing loan for A.Y.
24(b)+ 529 MCQ
Recovery of tax (TDS/TCS) Property 2022-23, under the provisions of the Income-tax Act, 1961 as discussed under Para 4?
80EEA
Deduction, Collection and What Ram Chander should do to not let the bank deduct TDS for following years to avoid
Lower/NIL TDS Sec 197 1204 MCQ
Recovery of tax (TDS/TCS) hardship?
Sec-195+ You have also been requested to explain whether in respect of payments made for on-line
Online digital assets 9(i)(vi) & digital assets purchased by the firm and payments made for on-line services taken by the 160 Desc.
(ii) company for special vis
Deduction, Collection and With reference to Para 4, what amount of tax shall be deducted by Havanti Ltd. in respect
Rent Sec 194I 493 MCQ
Recovery of tax (TDS/TCS) of transaction(s) with Asayam Ltd.?
Deduction, Collection and Sec 194IA - sale of immoveable Calculate the amount of TDS which should have been deducted by the purchaser towards
Sec 194IA 1192 MCQ
Recovery of tax (TDS/TCS) property purchase of property from Rudra Private Limited for A.Y. 2023-24?
With reference to information given under Para 2, decide whether provisions relating to
Deduction, Collection and Sec 194C
Sec-194C + 194H deduction of tax at source are attracted for the payments made to agent and civil engineer 461 Desc.
Recovery of tax (TDS/TCS) + 194H
during the financial
Deduction, Collection and With reference to information given under Para 1 & 2, is tax deductible by Mr. Swairam
Sec-194IA Sec-194IA 467 MCQ
Recovery of tax (TDS/TCS) and Mr. Vidhaay on making payment to the seller?
The founders of GrowFine believe that some benefits are available to start-ups.
Startup Sec 80IAC Considering the description provided in case study, which of the following statements is in 837 MCQ
accordance with provisions o
How much income tax is to be payable by Shivani’s sister Reena? Calculate the taxable
Deduction, Collection and Taxable Income and Income Tax
income of Reena to be shown in her income tax return as per the information mentioned 1023 Desc.
Recovery of tax (TDS/TCS) Liability
in question and calculate in
With reference to information given under Para 3, what is the amount of tax to be
Deduction, Collection and Sec
TCS - collected from Mr; Nartan in respect of the remittance of amounts overseas for his son’s 460 MCQ
Recovery of tax (TDS/TCS) 206C(1G)
and daughter’s education?
With reference to information given under Para 3, is M/s. James Durbin required to collect
TCS - Foreign Remittance tax at source on receipt of ` 5 lakh from Mr. Nartan for holiday package to Dubai? If so, 460 MCQ
what is the amount
With reference to information given under Para 2, in case of failure to furnish PAN by the
Deduction, Collection and TCS - PAN - not available then Sec
deductee/collectee as required based on the answer to Q.no.1 above, what would be the 460 MCQ
Recovery of tax (TDS/TCS) TCS rate 206CC
applicable rate of TDS/
With reference to information given under Para 3, are TCS provisions attracted in respect
TCS on Remittance of Gift of remittance of gift to sister? If so, what is the amount of tax to be collected from Mr. 461 MCQ
Nartan?
Deduction, Collection and Sec Compute the amount of TCS which needs to be collected from- ` Kunal Textiles Ltd;, & `
TCS u/s 206C(1H) calculation 1071 Desc.
Recovery of tax (TDS/TCS) 206C(1H) Madhu Textiles Ltd
Deduction, Collection and Sec Discuss about the due dates of filing TCS Returns and furnishing of certificates to the
TCS u/s 206C(1H) calculation 1071 Desc.
Recovery of tax (TDS/TCS) 206C(1H) buyer.
It was pointed out in the SCN that FST Limited has failed to deduct tax at source on
TDS Sec 194I payment made to a company owning exhibition centre in Mumbai for a makeshift stall and 845 MCQ
use of furniture. Which of f
Sec HW Limited made payments to various individuals during the financial year 2019-20. When
TDS - 194C & 194I 194C+194 payment is made by the company, whether T.D.S. would be deducted or not and if it would 582 Desc.
I be deducted then what wo
Pass complete Journal entries at the time of initial recognition of transactions in the books
TDS alongwith Journal Entry which relate to TDS after the consideration of provisions or rules as the case may be 1093 Desc.
whether of accountin
Deduction, Collection and State all the TDS provisions applicable on ABC Developers Ltd. w.r.t. their transactions as
TDS Compliances 1061 Desc.
Recovery of tax (TDS/TCS) stated in the above case scenario.
Deduction, Collection and TDS on ESOP - Special As regards doubt of Mr. X regarding withholding tax in relation to ESOPs is concerned,
837 MCQ
Recovery of tax (TDS/TCS) treatment which of the following statements is most appropriate
Page 18
As regards proposed purchase of villa in Goa from Mr. Christopher is concerned, which of
Deduction, Collection and Sec 194
TDS on Immovable property the following statements is likely to be correct as regards deduction of tax at source (TDS) 829 MCQ
Recovery of tax (TDS/TCS) LA
is concerned? Assu
Deduction, Collection and What is the amount of disallowance for TDS non-compliance from the facts given in point
TDS on Labour amount Sec 194C 568 MCQ
Recovery of tax (TDS/TCS) no. 4 in case study?
Deduction, Collection and XYZ Ltd. is required to deduct tax at source as follows in case of the payment made by it to
TDS on Salary Sec 192 1061 MCQ
Recovery of tax (TDS/TCS) Mr. Raghav
Sec 194Q With reference to information given under Para 2, are provisions of TDS/TCS under the
TDS on Sale of Goods /206C(1H Income-tax Act, 1961 attracted in respect of purchase/sale transaction between Mr. 460 MCQ
) Soham and Mr. Nartan? If so, wh
Considering matter stated at [i] relating to short-deduction of tax from payments made to
TDS u/s 194C Sec 194C BCCL by survey team in their show-cause notice, which of the following statements is most 845 MCQ
appropriate in this
The survey team has raised the issue of application of inappropriate rate while deducting
Deduction, Collection and Sec 194H
TDS u/s 194H +194C tax from payments made to certain companies providing clearing and forwarding services 845 MCQ
Recovery of tax (TDS/TCS) +194C
at JNPT, Nhava Sheva, M
TDS u/s Sec 194J Sec 194J What should be the TDS liability on the payment made by ACD Ltd. to the account of HG? 1061 MCQ
One tax expert opined Ratio International Inc that the capital gain earned by it shall be
DTAA Analysis of DTAA assessed as an AOP. As the said AOP was not a tax resident entity of Netherlands, benefits 1179 Desc.
under the India-Net
Kindly inform Sabyaschi Ltd how much credit of tax paid in USA and Canada be obtained in
DTAA Credit of Taxes 1178 Desc.
India.
Taxation Of Business Process Discuss the direct tax implications in the hands of Joe Weider Incorporation due to
DTAA 327 Desc.
Outsourcing Units In India presence of BPO in India
Sec With reference to Para 3, who was required to deposit the amount of equalisation levy
Amount of EL & interest
Equalization Levy 165A+166 with the Central Government for the December’ 2021 Quarter and how much interest 491 MCQ
payable
A amount shall be payable for late
Sec- How much amount of equalisation levy needs to be deposited for December Quarter and
Amount of EL & interest
Equalization Levy 165A+166 also by what date it needs to be deposited, in case if:- (i) Fsell Inc. has PE in India (ii) Fsell 491 Desc.
payable
A Inc. does not hav
Entity has Permanent Estab & Discuss the tax implications/ TDS implications of the payment made to Techno Inc. by
Equalization Levy 1252 Desc.
No PE Sudarshan Ltd. if:
The Company is liable to pay equalization levy at ____% in respect of online advertising
Equalization Levy online advertising 430 MCQ
paid to non-resident
Exemption Exemption Income Calculation Calculate the exempt income in case of client 5- Mr. Raj. 1204 MCQ
Exemption u/s 10 vis-a-vis What is the difference between exemptions under section 10 and deductions provided
Exemption Sec 10 352 Desc.
Deduction under Chapter VI-A under Chapter -VIA under the Income-tax Act, 1961?
Compute the book profit tax under Section 115JB on the assumption that the consolidated
Exemption SEZ Sec 10AA 432 Desc.
figures of two divisions were given in Schedule III to Companies Act, 2013.
What shall be the gross annual value of the house property let out by Mr. Jayesh for A.Y.
Income from House Property Gross Annual Value 2022-23, under the provisions of the Income-tax Act, 1961, assuming all the conditions 530 MCQ
under Rule 4 are satisf
Referring Para 4, compute the income from house property of Mr. Dishant and Mr. Jayesh
Income from House Property Income from House Property for A.Y. 2022-23, assuming all the conditions under Rule 4 are satisfied. Ignore, any 530 Desc.
alternate view for the same
In !ugust’2023, RTL’s tea estate in Jellalnagar, Karimganj district, received `10,00,000/- as
Income from Other Source Agriculture Income compensation from an insurance company for severe damage to green leaves caused by a 723 MCQ
hailstorm. A trainee
Sec GrowFine has issued equity shares to individuals having face value of `10/-per share at a
Income from Other Source Angel Tax - IFOS 56(2)(viib price of ` 50/-per share. What are income tax implications for the same for GrowFine? 838 Desc.
) What is such tax commonl
Guarantee received by the Amount paid to director for giving guarantee for the Company to secure overdraft facility
Income from Other Source 430 MCQ
director is chargeable to tax in the hands of Director as
With reference to information given under Para 1, is any amount taxable in the hands of
Sec
Income from Other Source Immovable Property Mr. Swairam in respect of the above transaction? If so, what is the amount and under 467 MCQ
56(2)(x)
which head is it taxable?
With reference to information given under Para 2, is any amount taxable in the hands of
Sec
Income from Other Source Immovable Property Mr. Vidhaay in respect of the above transaction? If so, what is the amount and under 467 MCQ
56(2)(x)
which head is it taxable?
Kindly let Mr; Evrick’s wife know how much tax she needs to pay during FY 2019-20 (Ignore
NR Taxation Capital Gain Sec 115E 579 MCQ
the effect of foreign currency conversion).
In respect of US $ 250 million from Chase Inc. to invest in one of its ongoing building of
Deemed to accrue or arise in Sec
NR Taxation highway projects in India, state with reasons whether the income of the non-resident is 231 Desc.
India 9(1)(vi)
deemed to accrue or a
Whether deposits with A Ltd., an Indian company, would still be construed as a foreign
Sec 115H
NR Taxation Foreign Exchange Asset exchange asset eligible to claim the benefit of special provisions applicable to non 579 Desc.
r/w 115E
–resident?
NR Taxation Income deemed to accrue/arise Sec 9 Examine with reasons whether the following statements are correct/incorrect :- 645 Desc.
NR Taxation Interest on Fixed Deposit Sec 115C How will the interest on fixed deposits be taxable in India in the hands of Mr. Hari? 1178 MCQ
NR Taxation not-ordinarily resident' status Explain 'not-ordinarily resident' status of an Individual. 100 Desc.
Determine the residential status of RPP Ltd. for A.Y.2023-24, if during the F.Y.2022-23,
NR Taxation POEM 1150 Desc.
eight board meetings were held–3 in India and 5 in Thailand;
Determine the residential status of Raj Pharma AG for A.Y.2024-25, as per the Indian
NR Taxation POEM - Residential Status 908 Desc.
Income tax law.
Recovery of tax in respect of Is the Assessing Officer correct in recovering the taxes due from Mr. Hari from his fixed
NR Taxation Sec 173 1178 MCQ
non-resident from his assets deposits lying in India?
NR Taxation Residential Status What would be Residential status of Mr. Mehta for the A.Y. 2023-24? 1149 MCQ
The survey team has raised the matter regarding non-deduction of tax at source on ocean
Shipping business - Mode of Sec 172 +
NR Taxation freight paid to shipping agents of non-resident foreign shipping companies in its show- 847 Desc.
recovery of tax & TDS 194C
cause notice. How can CA
Page 19
With reference to the information given in para (5), the income arising on above
Others Classification of Income 961 MCQ
transaction shall be chargeable to income tax under the head:-
ICDS X provision for onerous
Others With respect to SUN Limited, what will be the deferred tax and where will it be impacted 106 Desc.
contract
ICDS X warranty clause in the Compute the deferred tax liability as on 31st March, 2022 and the charge/credit to the
Others 106 Desc.
supplies of equipment Statement of Profit or Loss and/ or Other Comprehensive Income on head office property.
income of a previous year will
Are there any exceptions to the rule that the income of the previous year shall be assessed
Others be assessed in the previous 352 Desc.
in the subsequent assessment year? If yes, state the exceptions
year itself
Calculate the tax payable by Aakashvani as per Income-tax Act,1961 for assessment year
Others Tax Liability - Calculation 1081 MCQ
2023-24.
Mr. D discusses some items to be debited to the Income & Expenditure account of their
PGBP Allowability of such items Firm with all the Partners while finalizing the Books of Accounts for the year F.Y. 2022-23. 1104 Desc.
You are required to c
Examine the allowability of the two expenditures incurred by Whirlsonic Ltd., under the
Allowed/disallowed
PGBP relevant provisions of the Income Tax Act, 1961, related to payment of sales commission 971 Desc.
expenditure
and secret commission wi
Calculate the book profit of the partnership for the purpose of calculation of allowable
PGBP Book profit of partnership Sec-40 1395 Desc.
deduction for salary paid to partners as per the Income Tax Act, 1961
Book profits for partmer's Calculate the maximum remuneration allowed to partners as per section 40b of Income-
PGBP 1081 MCQ
remuneration tax !ct, 1961 in !akashvani’s books for assessment year 2023-24
Calculate the Net Profit of RA Ltd. chargeable to tax under PGBP after making the
PGBP Business Income 1124 Desc.
adjustments for the transactions given above in Para (3).
You are required to compute the income from business or profession (ignore the
PGBP Business Income provisions of section 115BAA) of Hamba Manufacturers Ltd. for the Assessment year 2023- 1219 Desc.
24, after considering the informat
Compute the business income of soft toys manufacturing business for the Assessment Year
2018-19
Compute the business income of fabrics and cloth business for the Assessment Year 2018-
19
Certain deductions to be only Whether the interest payable by the company to the GST department which is not paid
PGBP Sec 43B 970 MCQ
on actual payment before the due date specified u/s 139(1), will be disallowed?
With the help of data provided by the Head Accountant of Kavya Hotels Ltd. and the
Computation of Business
PGBP following additional information, compute profits and gains of business or profession of 897 Desc.
Income
Kavya Hotels Limited for the
From facts given in case study point no. 5, Rs. 6 Lakhs credited to statement of profit and
PGBP Creditor amount settled Sec 41 568 MCQ
loss would -
Mr. Kapoor tells CA Karan Nayyar that their Company carries out CSR activities from rented
PGBP CSR Sec 37 premises in Pune. The rent paid for such premises is disclosed as CSR expenditure and 1162 MCQ
subsequently their comp
During the year, company spent certain amount towards the education of a girl child. Is the
PGBP CSR Sec 37 treatment as decided by the company w.r.t. such CSR expenditure while computing income 1163 MCQ
for Income tax purpos
Sec
Discuss, with reasons, whether the contention of the Assessing Officer in the case
36(1)(iii)+
PGBP Deduction allowable explained to CA Kumar by Mr. Praveen Dhakal is correct or not. Also, explain the tax 1261 Desc.
43B+
treatment of the emergency spare
2(28A)
Deduction for salary paid to
PGBP Sec-40 Allowable deduction for salary paid to partners the assessment year 2024-25. 1395 Desc.
partners
Depreciation & Interest Compute the profit of FIL for tax purposes, along with detailed notes, considering all the
PGBP 6 Desc.
deduction eligible deductions based on the facts mentioned in the case study.
Calculate the depreciation as per Income-tax !ct, 1961 in the !akashvani’s books for
PGBP Depreciation calculation Sec 32 1081 MCQ
assessment year 2023-24.
In light of provisions of Income-tax Act, compute the amount of depreciation allowable as
PGBP Depreciation calculation Sec 32 881 Desc.
deduction on building and plant & machinery for the previous year 2022-23.
PGBP Depreciation rate on Goodwill The Company is eligible to claim depreciation in respect of goodwill at________ % ( 430 MCQ
How much additional deduction shall be allowed in respect of emoluments paid to new
PGBP Emoluments 622 MCQ
employees under the Income Tax Act, 1961?
PGBP Employer Contri toEPF Sec 43B Employer’s contribution to EPF as stated in point no (2) is: 567 MCQ
With reference to the information given under Para 2, what shall be considered as the cost
PGBP Explanation 4 to section 43 Sec 43 854 MCQ
of machinery reacquired by VPL from Mr. Devraj, for income tax purpose
One of Ankit's Clients has displayed his Business name along with the GST Act
PGBP Glow sign board requirements through Glow Sign Boards outside his Premises and has claimed the expense 1170 MCQ
as a Revenue Expenditure. They seek
Examine the taxability and/ or allowability of the guarantee furnished by Varsha Pvt. Ltd.
PGBP Guarantee furnished Sec 43B 1229 MCQ
under the provisions of the Income-tax Act, 1961, for the A.Y. 2023-24.
The contention of Mrs. Bhalla as to the conflict she faces while computing the income of
PGBP ICDS 1260 MCQ
the Company is:
PGBP ICDS C! Kumar resolves Mrs; Dave’s query by guiding her that - 1260 MCQ
What would be impact on profits of the firm on account of damage of stock due to fire and
PGBP Insurance claim for stock receipt of insurance compensation towards such loss while computing income under the 879 MCQ
head “Profits and gains f
With reference to information given in Para E, examine the correctness of the action of
PGBP Interest of 5 yrs paid upfront Sec 43B 1404 Desc.
Assessing Officer in respect of the interest expenditure claimed by MTL.
One of CA Ankit's Clients states that Interest was payable to Goods and Services Tax
PGBP Interest payable on GST Sec 43B Department but could not be paid before the due date specified in section 139(1). What 1170 MCQ
should be CA Ankit's Reporti
Sec What amount of payment made for licence fees by Talktime Telecom Pvt. Ltd. shall be
PGBP License for Telecom 1218 MCQ
35ABB deductible, under the Income-tax Act, 1961 for A.Y. 2023-24?
online advertisement charges Sec In the case of online advertisement charges paid to domestic company, the amount liable
PGBP 431 MCQ
paid to domestic company 40(a)(ia) for disallowance for non-deduction of tax at source would be:
Page 20
Calculate the taxable amount under the head ‘Profits and gains from business and
PGBP PGBP 990 MCQ
profession’ of Lotus Private Limited for !ssessment Year 2023-24;
Compute the Company’s income under the head Profits and Gains of Business or
PGBP PGBP 675 Desc.
Profession. (giving reasons for treatment of each item) Ignore MAT provisions
Which of the following employee’s’ salary shall be considered for the purpose of
PGBP PGBP calculation of additional deduction allowed in respect of emoluments paid to new 621 MCQ
employees under the Income Tax Act, 19
Compute the total income of CURE Pharma Pvt. Ltd. for the A.Y. 2018-19. Cost inflation
PGBP PGBP and total income 675 Desc.
Index - FY 2013-14: 220; FY 2017-18: 272
From the information given in Para I, compute Profits and Gains from Business or
PGBP PGBP- MAT Profession for the Assessment Year 2019-20 indicating reasons for treatment of each item 622 Desc.
and ignoring the provisions re
The Winning !rticled Trainee is told that the Partnership firm – XYZ & Co; would not be
Sec
PGBP Presumptive taxation able to ensure that the aggregate of all amounts received including amount received for 1060 MCQ
44AB/AD
sales, turnover or gross
PGBP Rent Exp Sec 30 The accountant’s contention w;r;t; rent expense is: 1268 MCQ
Examine the taxability and/ or allowability of the payment made to Mr. Rodrigues by
PGBP sales commission to NR 1229 MCQ
Varsha Pvt. Ltd. under the provisions of the Income-tax Act, 1961, for the A.Y. 2023-24.
RA Ltd incurred two different types of capital expenditure on scientific research. Which of
PGBP Scientific Research 1123 MCQ
the following statements related to such expenditure under section 35 is incorrect?
PGBP Sec-43B Sec 43B Interest on term loan is deductible when it is 431 MCQ
As per a CBDT notification, a start-up is exempt from taxation w.r.t. Share Premium
PGBP Share premium 638 MCQ
received From Resident investors. Here, Share Premium refers to-
Sec With reference to the information given under Para 1, whether VPL would be allowed to
PGBP Shareholding change 79+56(2)( set off the loss of ` 4 lakhs for P.Y. 2021-22 and what amount would be chargeable as its 854 MCQ
viib) income in respect of its
PGBP Tax Liability - Individual Calculate the income tax payable by client 2 - Rohit for assessment year 2023-24. 1205 Desc.
Compute the income chargeable to tax for Assessment Year 2023-24 of Ranjan Pvt. Ltd,
PGBP Total Income ignoring MAT and provisions of section 115BAA. Support your answer with working notes 1170 Desc.
for CA Ankit.
Referring Para 4, compute total income and tax liability of Waqt Ltd. for Assessment Year
Total Income & Tax liability
PGBP 2022-23, if it does not opt for section 115BAA or section 115BAB of the Income Tax Act, 486 Desc.
calculation
1961 and its total inc
Compute the Income chargeable to tax for AY 2021-22 of Riddhi Siddhi Traders Pvt. Ltd.
PGBP Total Income calculation 559 Desc.
with supporting reasons. Ignore provisions of section 115BAA and MAT.
Ahuja Designs Ltd., sets up its Indian Principal Place of business in New Delhi. It is required
PGBP Total Income calculation 644 Desc.
to deliver various documents to ROC under the provisions of the Companies Act,2013:
To handle the growing Indian Business more effectively, Mr. Ramesh Ahuja decides to
PGBP Total Income calculation permanently shift to India with his family and decides to manage the UK business from 645 Desc.
India itself. He returned to I
Compute total income and tax liability of Shanaya Limited for the assessment year 2023-
PGBP Total income computation 24, as per provisions of Income-tax Act, 1961. Ignore the provisions of Minimum Alternate 1012 Desc.
Tax.
From the information given in Para 2, compute the income chargeable to tax for
PGBP Total Income Computation Assessment year 2023-24 of Annapurna Trading Pvt. Ltd, ignoring MAT and provisions of 1292 Desc.
section 115BAA. Support your answer
PGBP Total Income Computation Compute total income of the Assessee for the Assessment Year 2018-19 432 Desc.
In respect of certain financial information given by the management team in respect of the
PGBP Total Income Computation Company's subsidiary as at 31st March, 2019 as above, compute the total income of the 353 Desc.
company for the Assessm
PGBP Total Income Computation Compute the total income of Mr. Siraj for the financial year 2022-23. 37 Desc.
PGBP/IFOS Keyman Insurance Policy Which of the following is not true regarding Keyman Insurance Policy? 1393 MCQ
With reference to information given under Para 1, what is the amount of income
Sec 43CA
PGBP+Capital Gains Sale of Building chargeable to tax in the hands of Mr. Tushnim in respect of the transaction of sale of 467 MCQ
v/s 50C
building to Mr. Swairam and under
With reference to information given under Para 2, what is the amount of income
Sec 43CA
PGBP+Capital Gains Sale of Building chargeable to tax in the hands of Mr. Rusht in respect of the transaction of sale of 467 MCQ
v/s 50C
residential house to Mr. Vidhaay and
Please explain with reasoning, whether the disallowance of depreciation made and the
PGBP+IFHP disallowance of depreciation income being assessed under the head 'Income From House Property' instead of Business 154 Desc.
Profits by the Assessing Offi
Salary Salary income computation What is the amount of income chargeable to tax in the hands of Mr. Raj in India? 578 MCQ
Mr. X and Mr. Y had certain opinions on appointment of tax & internal auditor. After
Tax Audit Appointment of Tax Auditor reading and understanding those opinions answer the following questions: (a) Is it correct 571 Desc.
that tax auditor of a co
With reference to information given under Para 4, guide CA Matvar in reporting the said
Tax Audit Clause 22/21(h)/29A 461 Desc.
transactions under the relevant clauses in Form No. 3CD.
In the given case study, as a Tax auditor how will you report in Form 3CD the employees'
employees' contribution to Sec
Tax Audit contribution to provident fund and any disallowance which is to be made as per section 82 Desc.
provident fund & disallowance 40(a)(ii)
40(a) (ii) of the Income
Whether Shanaya Limited is liable to pay any penalty for failure to furnish tax audit report
Tax Audit Failure to furnish audit report in accordance with the relevant provisions of Income-tax Act, 1961 and if yes, then what 1012 MCQ
would be amount of
If Mr.Raj wants to transfer an amount of ` 7,50,000 lying in Indian bank account (in which
Tax Audit Form 15 CA & CB Rule 37BB the salary is credited) to his foreign bank account in a day or two, what is the procedure he 578 MCQ
will have to fo
Being the direct tax head of Surya Limited, what are your observations in respect of Form
Tax Audit Form 3CD and points for report 3CD prepared by the assistant of tax auditor. You are required to discuss the points which 1048 Desc.
need the attention
The Company has paid Rent to Naresh Kumar of ` 2,50,000 and paid interest to Hemlata `
Tax Audit Rent & Interest paid 1303 MCQ
4,00,000. State the reporting requirements in the Tax Audit Report by CA Kashish Jain:
Page 21
Whether the loan obtained from Humara Limited needs to be reported in Form 3CD by the
Tax Audit Tax audit applicability 991 MCQ
auditors?
What should be the outcome of the Tax Audit applicability as worked upon by Pratham in
Tax Audit Tax audit applicability 1060 MCQ
the case of Mr. Anurag Basu?
Tax Audit Tax audit applicability Help Pratham in working out the applicability of Income tax Audit on PQR Ltd. 1061 Desc.
With reference to Para 3 & 4, whether grandfathering would be available to Asayam Ltd. in
Tax Planning, Tax Avoidance
GAAR respect of the lease contract entered into with Havanti Ltd. and would the lease rent 493 MCQ
And Tax Evasion
payment be disallowed as
Tax Planning, Tax Avoidance What do you understand by the term Round Tripping under the Tax laws and explain the
Round Tripping 383 Desc.
And Tax Evasion same with an example.
Tax Planning, Tax Avoidance Explain the difference between Tax Planning and Tax Evasion using the 4 specific issues
Tax Planning and Tax Evasion 383 Desc.
And Tax Evasion raised by Ram kumar
Explain 'Virtual Digital Asset' as per the Income-tax Act, 1961 and the taxability of such
Virtual Digital Asset & Tax Sec
Taxation of Digital Txn assets. Also, compute the tax liability of SAK for the sale and purchase of bitcoins made 29 Desc.
Liability 115BBH
during the year.
If BIL and Sysma Inc are covered under transfer pricing and arm's length price is required to
Arm Length Price -selecting
Transfer Pricing be determined for their transactions, what will be the factors for the purpose of selecting 21 Desc.
most appropriate method
the most appro
Associated Enterprices
Transfer Pricing Under Income Tax Act, 1961, ABC Inc. & PQR Ltd. are? 1149 MCQ
definition
Associated Enterprices
Transfer Pricing Under the Income Tax Act, 1961, Kings plc & Golden Rivers Ltd. are? 1149 MCQ
definition
You are requested to provide detailed response to the 3 specific clarifications sought by
Transfer Pricing Clarification for 3 matters Thompson in connection with the Transfer Pricing aspects under the Indian regulatory 383 Desc.
requirements.
With reference to Para 4, due to application of rollback provisions, income for P.Y. 2019-20
Rule
Transfer Pricing Rollback was getting reduced to ` 6,300 lakhs. In this case, how the rollback provisions would be 486 Desc.
10MA
applied?
With reference to Para 4, the approval of which authority would have been taken by the
Transfer Pricing Unilateral APA board for entering into an Unilateral APA with Waqt Ltd. and what amount of additional 486 MCQ
fees would have been paid
Page 22
IDT By CA Rohit Chipper, AIR 17 CA Final, AIR 18 CA Inter IDT
Type
M/D
Purva Ltd. has approached the CA firm for seeking advice regarding the Order passed by
Appeals & Revision Appeal to Appellate Authority Sec 107 the Joint commissioner on the 3 queries raised by its Board of Directors. Help Mr. B out by 1104 Desc.
resolving all the que
A taxable person is engaged in supplying restaurant service in Delhi. In the preceding
Charge under GST
Composition scheme financial year, it has an aggregate turnover of Rs. 90 lakh from restaurant service and Rs. 674 MCQ
(Composition/ RCM)
10 lakh from supply o
The team has raised the issue of non-payment of GST on availing services of a security
Charge under GST
RCM List - Direct question agency described in case study under reverse charge mechanism. Which of the following is 846 MCQ
(Composition/ RCM)
true in this regard?
Charge under GST With reference to information given under Para 5, the liability to pay GST for cloud services
RCM- OIDAR 457 MCQ
(Composition/ RCM) procured by Upal Ltd. from Apnacart.com shall be, assuming GST rate to be 18%?
Charge under GST With reference to information given under Para 4, what shall be the taxability of the sitting
RCM- Sitting Fee to Director 457 MCQ
(Composition/ RCM) fee payable to directors and salary payable to the executive directors?
Charge under GST With respect to the payment made by Whirlsonic Ltd. for sponsorship of the sports event,
Sponsorship services - RCM 970 MCQ
(Composition/ RCM) which of the following is the correct statement regarding the GST liability?
diff b/w shipping bill and bill of
Custom In the context of export procedures, which of the following statements is correct? 889 MCQ
export
What shall be the consequences for the company in respect of amount of ` 25.00 crore
Custom Duty draw back stuck up with one of its clients in an export trade for which duty draw back had been 889 Desc.
availed under Customs laws?
In terms of customs procedures, exporters and importers have to get themselves
Custom Registration registered on a portal for filing various documents online. Which of the following 889 MCQ
statements is correct in this regard?
While preparing e-way bill for movement of goods to third party for cleaning and removal
E-Way Bill Amount reflected on portal of smoke, the accountant of the firm is in dilemma regarding its preparation. What would 880 MCQ
be most likely correct
With reference to the information given in para (7), what would be the consignment value
E-Way Bill Consignement value calculation sent by Ram Electricals Ltd. for the purpose of generating E-way bill for inter-state supply 961 MCQ
of goods?
Rule Whether e-way bill in respect of material sent to Raju in Haryana is required to be
E-Way Bill Consignment Value 1071 Desc.
138(1) generated?
Cosequence of non issuance of Rule With reference to last part of para no. (4), what will be the consequence for non-issuance
E-Way Bill 1071 Desc.
EWB 138(1) of e-way bill?
In the financial year 2019-20, tables and chairs manufactured by HW Limited were sent to
E-Way Bill E-way bill - Job Work a job worker for the purpose of proper finishing of tables and chairs manufactured. The 581 MCQ
value of this consignme
With reference to information given under Para 2, which of the following statements is
E-Way Bill E-way bill - Way of E-Way Bill correct regarding generation of e-way bill for movement from ICD Tughlakabad to Nhava 465 MCQ
Sheva seaport in Mumbai?
With respect to para no. (4), which of the following statement is not correct in respect of E-
E-Way Bill EWB edit? 1070 MCQ
way bill?
With reference to the information given under Para 5, till what date the E-way Bill
E-Way Bill Valifity of EWB 1033 MCQ
generated on 9th January, 2023, would be valid?
With reference to the information given under Para 1, who could have generated the E-
E-Way Bill Who responsible and validity way bill in case of the work order to be delivered by SBL to TKL (P) Ltd. and for how many 1278 MCQ
days such E-way bill wou
PTPL entered into a contract with Nayan Distributors, Siliguri for supply of 1 tonne of “!1
Exemptions Agriculture Produce Tea”; It sent the said consignment to the distributor and paid loading and unloading 728 MCQ
charges of `20,000.Whic
With reference to the information given in Para 5, Adarsh Tech Ltd. approaches you to
ascertain the taxability of supply of services of development of online cloud system to JMC
Exemptions composite supply Entry 3A 1357 MCQ
under GST law, in the given case, for quoting the best price. You are required to determine
the taxability of the given supply.
container handling services With reference to information given under Para 3, which of the following statements is
Exemptions 465 MCQ
provided to Nepal/ Bhutan correct regarding invoicing to Nepal/ Bhutan customers?
Which of the following supplies are exempt from GST? (1) Warehousing of jaggery (2)
Exemptions GST exemptions Loading and unloading of green tea packets (3) Warehousing of coffee beans (4) 673 MCQ
Warehousing of rice
Calculate the amount of taxable supply of ‘Beauty and Personal care’ segment for
Exemptions Taxable Supply or not 1048 MCQ
February, 2023?
While applying for IEC by ABCD Ltd., what was required to be declared for obtaining the
Import & Export under GST IEC application 919 MCQ
same?
Explain how GST would be levied and what would be the nature of supply in case of import
Import & Export under GST Importation of goods of the electronic chip to be made by Whirlsonic Ltd.? Also examine, whether the view of 971 Desc.
the management of the c
Historically, FIL had not exported through a merchant exporter." Explain the meaning of
Import & Export under GST Merchant Exporter Merchant exporter. Under what circumstances goods can be supplied to merchant 6 Desc.
exporter at concessional rate of G
Whether any GST compliances are required to be made with respect to onIine digital assets
Import & Export under GST OIDAR purchased and on-line services availed ? Also explain whether use of such online digital 160 Desc.
assets purchased and
Physical Export and Deemed Discuss the taxability of Export transactions as are being planned by Mr. Rahul Dev to be
Import & Export under GST 921 Desc.
Export carried out in near future as told by him to CA Nitin Garg under the GST Law
As regards destruction of stock of raw material in a fire in the month of April 2023 is
Input Tax Credit Blocked credit Sec 17(5) 846 MCQ
concerned, which statement is most appropriate
Kindly tell Abbottt & Co, Radhika Drug and M/s Mahaveer Medical as to how to deal with
Input Tax Credit Blocked Credit Sec 17(5) 1178 Desc.
the input tax credit by them in the month of May, 2022.
With reference to Para (2), what should be the treatment of ITC availed in the books of
Input Tax Credit Blocked Credits Sec 17(5) 519 MCQ
account on the sets brought at the carnival and not in stock at the end?
Page 23
Sec In light of information provided above pertaining to inventories damaged and affected
Input Tax Credit Blocked Credits 879 MCQ
17(5)(h) during fire, which of the following statements is MOST LIKELY to be true regarding GST?
What would be the most likely impact on financial statements and availment of ITC by the
Input Tax Credit Goods in Transit firm for year ending 31st March,2023, in respect of the plain raw fabric purchased from 880 MCQ
M/s Costa Industries Pv
With reference to Para (4), compute the amount of net ITC available with HappyHomes
Sec
Input Tax Credit ITC available Ltd. for the month of April with necessary explanations for the treatment of various items 520 Desc.
17(5)+16
as per the provisions of
Whether input tax credit is available on the GST paid by PTPL on the invoice amounting to
Input Tax Credit ITC on Hotel invoice `1,00,000 to the hotel located in Guwahati, Assam, for stay of the employee? If yes, please 728 MCQ
specify the amount
The firm has sent its smoke affected stocks of ` 0.50 crore to third party in Varanasi for
Input Tax Credit Job work cleaning and removal of smoke. In light of provisions of GST and rules made thereunder, 879 MCQ
consider the followin
Job work transactions
Instead of sending material for job work, if capital goods were sent to the job worker,
outstanding on March 31, 2023
Input Tax Credit would any GST liability arise as on March 31, 2023? On what date goods will be deemed to 14 Desc.
attract GST liability + 3 Other
be supplied in case of
req
Referring Para 5, determine the GST payable in cash of Supatra Foundation for the month
Input Tax Credit Net GST liability of March, 2021 if rate of GST is 18% assuming that the opening balance of ITC for relevant 522 Desc.
tax period is ` 30,00
opening stock at the time of Sec With reference to information given under Para 1, which of the following statements is
Input Tax Credit 464 MCQ
new registration? 18(1)(a) correct regarding eligibility of ITC on opening stock at the time of new registration?
The GST team has pointed out that the company is required to reverse the ITC on common
Input Tax Credit Reversal of ITC Rule 43 input services relating to exempt supplies of duty credit scrips. What is your opinion on this 847 Desc.
issue considering
Others GST liability Computation Calculate the net GST liability of ‘Kanti’ for January, 2023 1047 MCQ
Compute the GST payable by Varsha Pvt. Ltd. for the given month. Assume the rates of GST
Others GST liability Computation to be as under: Hiring out of excavators – 12% Supply of manpower services and soil- 1229 Desc.
testing and seismic evaluat
What would be the entitlement of input tax credit of CURE Pharma Pvt. Ltd. for month of
Others GST liability Computation December, 2017 under the CGST Rules and also calculate the amount to be added to 675 Desc.
output tax liability of CURE Ph
! taxable person has made following supplies in January, 2018 – Sales within the State –
Others GST liability Computation Rs; 2,00,000; Exports out of India– Rs; 60,000; Supplies to SEZ located within the State – Rs; 673 MCQ
40,000. He does
With reference to the information given under Para 5, what shall be the interest liability for
Payment of Tax interest on TDS by PSU Sec 51 1032 MCQ
late deposit of TDS amount by the PSU under GST law?
Net GST Liability 9ncluding Being Akshay, help the accountant to find the liability of statutory dues to be paid in the
Payment of Tax 1093 Desc.
TDS+TCS recievble Government treasury for the month of March 2023
Sec
Sec 49(10) read with rule 49(10) Mr. Arvind, asked the accountant to use Form GST PMT-09 for making a transfer from IGST
Payment of Tax 1353 Desc.
87(13) r/w rule head to respective CGST & SGST heads. Examine the said scenario.
87(13)
With reference to Para 4, what amount of tax to be collected at source by Fsell Inc. from
Payment of Tax TCS Sec 52 Apsflon Ltd. for the month of December, 2021, under GST considering all the supplies 490 MCQ
being inter-state taxable
With reference to Para 5, what amount of interest would have been required to be paid by
Payment of Tax TCS Sec 52 491 MCQ
Fsell Inc. for the discordancy noticed?
With reference to the information given under Para 5, what amount of tax would have
Payment of Tax TDS by PSU Sec 51 1032 MCQ
been deducted by PSU under GST law and by what date it should have been remitted?
Sec
Determine the place of supply(ies) between Khwab Pharma Ltd., Rajratna Medicines and
Place of supply Goods 10(1)(a) & 1353 Desc.
Saras Med Pvt. Ltd.
(b)
Sec Explain with a reason what would be the place of supply regarding furniture manufactured
Place of supply Goods 10(1)(a) &
and supplied by STYZ Limited during the financial year 2019-20, in the following scenarios: 615 Desc.
(b) (a) When furniture
With reference to the information given under Para 1, determine the place of supply in
Sec
Place of supply Goods respect of transactions involved in the work order delivered by SBL and also comment on 1279 Desc.
10(1)(b)
the tax levy to be made f
Calculate the amount of taxable inter-state and intra-state supplies with respect to
Place of supply Inter-state or Intra State supply 1048 MCQ
assignments sent on various locations on 1 January, 2023.
Place of supply Place of supply of Goods Sec 10 What is the place of supply of pre- installed office furniture and fixtures? 1251 MCQ
What should C! Om tell Mr; Rahul about the latter’s query about the GST implication with
Sec 10 &
Place of supply Place of supply of Goods respect to place of supply? Also, what clarifications should CA Om give with respect to the 1252 Desc.
11
prospective export
What is the place of supply with respect to the professional service provided by Ms Sonam
Place of supply Professional Service 1113 MCQ
to Mr. Yusuf?
What is the place of supply in case of Aashit & Co assisting Mr. Raju to file the return of
Place of supply Return filing services 1177 MCQ
income in India?
With reference to the information given under Para 5, what shall be the place of supply
Sec 10,
Place of supply Sec 10, 12, 31 and time of supply with respect to supply of steel TMT bars in an over dimensional cargo 1033 Desc.
12, 31
made by Aspan Ltd. to P
Place of supply Services - Immovable Property Sec 13(4) What is the place of supply in case of services rendered by architect? 1178 MCQ
With respect to the training imparted by AAN consultants what should be the place of
Place of supply Training 1113 MCQ
supply?
Deficiencies noticed in refund With reference to the information given in para (8), accountant of the company, Sai Kripa
Refund under GST 961 MCQ
application International Ltd;, may have noticed <<<; Form of GST on GST-Portal;
Refund - maximum amount Determine the maximum amount of Refund admissible to Sai Kripa International Ltd. for
Refund under GST 962 Desc.
admissible the given tax period.
Page 24
retain GST without having Under what circumstances IP limited is legally entitled to the GST refunds and can also
Refund under GST requirement to pass it on to Sec 54 retain such amounts without having the requirement to pass it on to anybody else? Also 196 Desc.
anybody brief about what are allo
retain GST without having Under what circumstances Innovative papers limited is legally- entitled to the OST refunds
Refund under GST requirement to pass it on to Sec 54 and can also retain such amounts without having the requirement to pass it on to anybody 303 Desc.
anybody else
As Deepak thinks that export sales are not included in the definition of aggregate turnover
Registration Agg Turnover Sec 2(6) under the GST law since export sales are exempt from tax. Whether export sales should 1239 MCQ
also be added along wi
GST Audit Services rendered by CA Mohan on behalf of his CA firm to the Company would
Registration Distinct Person Sec 25 be construed as a Supply under GST Law for M/s Sharma Pahwa& Co. from its Branch 1304 MCQ
Office:
Sec 24 &
Registration ECO How Fsell Inc. would be registered under GST? 490 MCQ
9(5)
Should the person engaged in goods transportation as mentioned in the case of client 3, is
Registration GTA Registeration 1205 MCQ
required to get his business registered under GST?
With reference to Para 5, whether GoDaddy Inc. would be required to take GST
Registration OIDAR Sec 24 522 MCQ
registration?
With reference to information given under Para 1,which of the following statements is
Registration Registeration Sec 22 465 MCQ
correct regarding GST registration by XLL?
Mr. X and Mr. Y had certain opinions on GST registration. (a) Is the opinion of Mr. X in this
Registration Registeration Sec 25 regard correct? Provide proper explanation for your answer. (b) Are the thoughts of Mr. Y 571 Desc.
appropriate? Giv
Sec 10 + Explain the circumstances when a supplier is required to seek registration under the Goods
Registration+ Composition Levy Registeration + Composition 128 Desc.
22 and Services Tax Act 2017 and can avail the benefit of Composition Scheme.
In which form reconciliation statement under GST would be required to be furnished by
Returns Reconciliation Statement 1314 MCQ
Aman & Co. and by what date?
self-certified reconciliation Comment on the applicability of furnishing self-certified reconciliation statement under
Returns 1313 MCQ
statement GST on Aman & Co. for the Financial Year 2022-23.
Returns Wrongly claimed ITC What remedy is available for the wrongly claimed ITC in GST returns? 567 MCQ
State the correct option regarding taxability of GST relating to Advocate services provided
Supply under GST Advocate Services - RCM 578 MCQ
by Batliboi & Purohit Co.
Examine the applicability of GST in case of cash contribution made by the co-ventures in
Supply under GST Cash Contribution the JV and used it for purchasing the machinery? Also, discuss in which scenario, GST 516 Desc.
would have been applicabl
The management of the company wants to know whether the Food Products supplied
Supply under GST Deemed Supply from its Factory to its Departmental Store for sale at the store would constitute Supply 1303 MCQ
under GST Law or not?
Calculate the GST liability which Rudra Private Limited should have levied at the time of
Supply under GST GST liability on Sale of Land 1193 MCQ
sale of land, as per the contention of Internal audit team member.
Kindly explain the GST Provisions to M/s Dushyant & Co regarding payment made to
Supply under GST GTA-RCM 579 Desc.
Radheshyam Tiwari & Co.
With respect to information given in Para 2, calculate the amount of GST payable in
Supply under GST Mixed Supply Sec 8 1351 MCQ
respect of supply of a gift pack in the form of a single basket by M/s Goyal Sweets.
With respect to the purchase of building and pre- installed office furniture and fixture,
Supply under GST Negative list Schedule-III 1251 MCQ
which of the following is correct regarding the GST liability?
Whether the services rendered by Punyabhumi Ltd. to Hamba Manufacturers Ltd. qualify
Supply under GST No Consideration - Schedule I 1218 MCQ
as supply under GST?
STATEMENT 1:- GST is leviable on the fabric imported from Paris while filing for its
Supply under GST Schedule III 920 MCQ
clearance. STATEMENT 2:- GST is not leviable on the sales made to Panacea Pvt. Ltd
ST!TEMENT 1 :- In case of trade involving ‘B’ in Greece and ‘C’ in Singapore, invoicing
Supply under GST Schedule III para 7 should not have been done by ABCD Ltd. in India. STATEMENT 2 :- Value of such shipments 920 MCQ
has to be included by AB
Whether stock transfers between Kirti Nagar factory and Chandni chowk showroom would
Supply under GST Stock T/f 1193 Desc.
be considered as supply in the light of GST provisions.
The Restaurant Manager of the company asks CA Grace that their Restaurant usually sends
Supply under GST supply of alcoholic liquor some packed food products to the Company's Liquor Shop on a routine basis. Whether it 1303 MCQ
constitutes a Supply or no
Supply under GST Supply under GST Which of the following activities does not amount to supply? 673 MCQ
At the end of 3rd year, Chandragupta terminates the contract with Talktime Telecom Pvt.
Tolerating non-performance of
Supply under GST Ltd. He has received the contract fee for 3 years at the time of termination of contract. You 1219 MCQ
a contract
are required to de
Tables and Chairs were also transferred from manufacturing plant of HW Limited in State Y
Supply under GST Transfer b/w 2 units to branch office of the company in State K during the financial year 2019-20. Both 581 MCQ
manufacturing plant of the
Tax Invoice, Credit and Debit Bill of Supply - Composition What is the name of document which Shivalik Private Limited will have to issue w.r.t. sales
1092 MCQ
Notes scheme made by it ________ if it gets registered under the GST scheme directors are rooting for?
Tax Invoice, Credit and Debit Being the IDT manager, what are your observations under the scope of GST rules and
General invoice regulations 1048 Desc.
Notes regulations for the manual Invoice issued by your assistant.
Tax Invoice, Credit and Debit Suggest how the issue can be resolved for the request received from a unit owner, Mukesh
Invoice 990 MCQ
Notes to send his Invoice with corresponding GST to his Noida address.
Lotus private limited does the billing of those services separately which are subject to
Tax Invoice, Credit and Debit
Invoice exemption from goods and services tax like electricity in this case. What should be the 990 MCQ
Notes
terminology for such ki
Analyze the issue of Lotus Private Limited for the billing done to customers and accordingly
Invoice compute the net GST liability to be paid for the month of April 2022. Support your answer 991 Desc.
Notes
with detailed wor
The buyer of goods are demanding credit of taxes paid by them while buying the goods
Revised Tax Invoices from Rain wear & Co. Kindly guide Rain wear & Co. as to what steps should be taken to 579 Desc.
Notes
resolve the issues of buyer.
Page 25
CA Ankit has provided various Consultancy and Assurance services during the year as
Time of Supply Change in rate of Tax follows. Determine the time of supply in the following cases assuming that rate of GST 1171 Desc.
changes from 18% to 20% w.e.f
HW Limited sold tables and chairs amounting to ` 2,00,000 to Mr. W in the financial year
Time of Supply Goods Sec 12(2) 581 MCQ
2019-20. Time of supply for tables and chairs sold to Mr. W will be:
Work out the assessable value of the machine and customs duty payable by N Ltd. with
Valuation under Custom Assessable Value Computation 224 Desc.
appropriate working notes.
Air travel agent is a person who is engaged in providing services connected with the
Value of Supply Air Travel Agent Rule 32(3) booking of passage for travel by air. What the provisions of GST are for air travel agents as 1081 MCQ
the value of supply o
CA Vivek bags a contract of providing financial and management consultancy to a group of
Alongwith Fees + Room recived
Value of Supply companies for an annual retainership fee of ` 15 lakh. He is given a room in the head office 1171 Desc.
Free
of the group for i
What should be the Value of supply of Product X for calculation of GST liability as asked by
Value of Supply Discount Sec 15 1314 MCQ
the Head accountant?
Determine the value of 500 products supplied by Batliwala Pvt. Ltd. to its Arunachal
Value of Supply Distinct Person Rule 28 1104 MCQ
Pradesh unit as per the provisions of the GST Law
Non-Cash Consideration Mobile CA Naman was asked to work out the value of supply in case of the mobile phone offered
Value of Supply Rule 27 1113 MCQ
phone offered by ABC Pvt. Ltd. to Mr. Mahesh. What should be the value of supply
How BFEs shall be dealt with under GST Act by Defence Innovators Ltd. in its books when it
Sec
Value of Supply OEM is certain that these shall not be sent back to XYZ Pvt. Ltd. till the constructed ships are 165 Desc.
15(2)(b)
delivered? Expla
With reference to Para 3, determine the value of supply for Stambh Forex Private Limited
purchase or sale of foreign
Value of Supply Rule 32(2) at the time of USD sold as well as purchased to/from Mr. Prasidh, in terms of rule 32(2)(a) 496 Desc.
currency
and rule 32(2)(b) o
With reference to information given under Para 3, which of the following statements is
Value of Supply Pure Agent Rule 33 465 MCQ
correct regarding value of container handling services provided by the company?
With reference to the information given under Para 5, what shall be the value of supply
Value of Supply Sec 15 Adjustments Sec 15 1033 Desc.
with respect to the supply made by Aspan Ltd. to PSU?
What should be the value of the taxable supply in case of goods sold by Sarvagya Ltd. to
Value of Supply Sec 15 Adjustments Sec 15 1114 Desc.
Maharaja Ltd.?
Compute the taxable value of televisions supplied by Saman Pvt. Ltd. to Shah Electronics
Value of Supply Sec 15 Adjustments Sec 15 during the quarters April-June and July-September assuming the rate of tax applicable on 1315 Desc.
the televisions as 18%
Compute the CGST and SGST or IGST payable, as the case may be, on the machinery
Value of Supply Sec15 Sec 15 224 Desc.
purchased by PQR Ltd from L Ltd along with explanatory notes.
With reference to Para 3, what shall be the value of taxable supply as per relevant CGST
Value of Supply Tickets by Air agent Rule 32(3) 495 MCQ
Rules for Disha Travels in respect of tickets sold to Mr. Prasidh?
Value of of supply - And Chairs During the financial year 2019-20, HW Limited supplied tables and chairs to Mr. F.
Value of Supply To Mr. Determine the value of supply of tables and chairs supplied by the company to Mr. F in the 582 Desc.
F. Determine Value following situations as pe
What should be the value of supply of the LED bulb with unique feature to be
Value of Supply+Time of Supply Discount Sec 15 970 MCQ
manufactured by Whirlsonic Ltd.?
Page 26
Law By CA Rohit Chipper, AIR 17 CA Final, AIR 18 CA Inter Law
Type
M/D
With reference to the information given under Para 3, explain what statutory
Accounts of Companies Sec 128
CFS Sec 129 requirements, Mr. Praveen would have explained to Mr. Devraj that would have made 855 Desc.
to 138)
him change his contention?
Accounts of Companies Sec 128 In the light of the information given in summary of discussion 3 above, examine the
Reopening of books Sec 130 298 Desc.
to 138) validity of the application filed by the Income Tax Assessing Officer before the NCLT.
Appointment and Qualifications Sec In Happy Crunch Ltd., due to unforeseen circumstances, Mr. Shyam vacated the office.
Additional DR 558 MCQ
of Directors (Sec 149 to 172) 161(4) What should be the course of action by the Board in such a situation?
Appointment and Qualifications director liable to retire by With reference to Para 1, whether Mr. Jayprakash can be considered as a director liable to
Sec 169 493 MCQ
of Directors (Sec 149 to 172) rotation retire by rotation and how Mr. Rajveer Sena can be removed by the company?
In respect of the information provided in point 3 above, examine whether the declaration
Appointment and Qualifications
Disqualification Sec 164 submitted by Mr. Ramanthan to the Company is in order for his. appointment as an 291 Desc.
of Directors (Sec 149 to 172)
additional director w.e.f. 01.
With reference to filing of Financial Statements with Registrar of Companies, throw light
Appointment and Qualifications Sec
Disqualification of DR on provisions of Companies Act, 2013 which of the following would be an appropriate 558 MCQ
of Directors (Sec 149 to 172) 164(2)
further action?
XYZ Limited is an unlisted company engaged in manufacturing of fabrics. The turnover of
Independent director Sec 149 the company as on the last date of latest audited financial statements is Rs. 100 Crore. The 674 MCQ
company is having 7
Mr P V Krishnan was irresolute whether the Company Agile Circuits Ltd. can appoint
Appointment and Qualifications Sec
Independent director Independent Directors? Albeit they can appoint Independent Directors, which of the 558 MCQ
of Directors (Sec 149 to 172) 149(4)
following class of Companies can a
DEF Limited engaged in producing and manufacturing cotton. DEF Limited is having one
Independent director subsidiary XYZ Limited. The company DEF Limited wants to appoint an Independent 674 MCQ
Director on its Board during the fi
In the case study given above one of the directors of STYZ Limited named Mr. K was of the
Resignation of Director Sec 168 opinion that effective date of resignation of director Mr. W would be taken as 07/11/2019 614 MCQ
because written noti
In the case study given above the director Mr. W decided to resign from his office as a
Resignation of Director Sec 168 director of STYZ Limited. In such a scenario what are the duties or the responsibilities of 615 Desc.
each of the followin
With reference to information given under Para 3, how many small shareholders are
Small Shareholder Director Sec 151 required to give notice to the company for appointment of their Director and also what is 458 MCQ
the minimum time period of g
The turnover of XYZ Ltd. as on the last date of latest audited financial statements is 150
Vacancy of ID crore rupees. An Intermittent vacancy of the independent director arises on 15th June, 675 MCQ
2018 in the company. T
Sec Happy Crunch Ltd.'s board had 8 Directors in total but was not represented by any woman
Women DR applicability 149+Rule Director. The Shareholders sought reasons for not appointing Woman Director on the 558 MCQ
3 Board. Is it mandatory for th
Regulatio
Appointment and Qualifications With reference to Para 3, Mr. Dishant can accept directorships in how many more private
Directorship and SEBI (LODR) n 17A + 529 MCQ
of Directors (Sec 149 to 172) limited companies engaged in commercial business actively?
Sec 165
Regulatio
Appointment and Qualifications With reference to Para 3, Mr. Dishant can accept directorships in how many more public
Directorship and SEBI (LODR) n 17A + 529 MCQ
of Directors (Sec 149 to 172) companies?
Sec 165
vacated before term of office On 19th October 2023 Mr. K.B. resigned after working about 45 days as a director. The
Appointment and Qualifications Sec 161+
expires & intermittent vacancy Board wishes to fill up the said vacancy by appointing Mr. Stephen in the capacity of 1334 Desc.
of Directors (Sec 149 to 172) 149
and SEBI (LODR) independent director in the
Appointment and Qualifications Women director and SEBI Whether the concern of company secretary holds good in including a woman director in
Sec 149 1047 MCQ
of Directors (Sec 149 to 172) (LODR) the board of directors.
Appointment and remuneration With reference to the information given under Para 2, whether there was any statutory
of Managerial Personnel (Sec Appointment of CS Sec 203 requirement for VPL to appoint a whole time Company Secretary (CS) and whether Mr. 853 MCQ
196 to 205) Divarkar was eligible to be app
Appointment and remuneration
With reference to the information given under Para 2, explain the manner in which VPL
of Managerial Personnel (Sec Appointment of MD 855 Desc.
would have appointed Mr Divarkar and Mr. Devraj, respectively?
196 to 205)
of Managerial Personnel (Sec Appointment of WTD Sec 196 Validity of the appointment of Mr. 'X' as Whole Time Director 231 Desc.
196 to 205)
With reference to Para (1), which of the following statements is not correct for seeking
of Managerial Personnel (Sec Approval from CG Sec 201 519 MCQ
approval from the Central Government for appointment of Mr. Joy?
196 to 205)
With reference to the information given under Para 3, to what amount of compensation,
of Managerial Personnel (Sec Compensation payable Sec 202 1033 Desc.
Mr. Rohit will be eligible to get from Aspan Ltd.?
196 to 205)
Referring Para 2, discuss whether: (i) The company is bound to pay compensation to Mr.
of Managerial Personnel (Sec Compensation to MD Sec 202 491 Desc.
Himanshu and, if so, how much?
196 to 205)
of Managerial Personnel (Sec Effective Capital Sec 197 Compute the effective capital for payment of managerial remuneration 231 Desc.
196 to 205)
With respect to information given in Issue 4, as regards recovery of the excess
of Managerial Personnel (Sec Excess Remuneration taken Sec 197 1408 MCQ
remuneration drawn by Mrs. Disha, which of the following options is applicable:
196 to 205)
Appointment and remuneration With reference to Para 2, by what date, the Board of Apsflon Ltd. was required to fill the
of Managerial Personnel (Sec Filing vacancy of KMP Sec 203 vacancy caused due to removal of Mr. Himanshu and what would be your answer, in case, 490 MCQ
196 to 205) if Apsflon Ltd. was a g
Page 27
With reference to information given under Para 3, you are required to examine with
of Managerial Personnel (Sec Managerial emuneration Sec 197 468 Desc.
reference to the provisions of the Companies Act, 2013 the validity of the such proposals?
196 to 205)
of Managerial Personnel (Sec MD Appointment Sec 196 In your opinion, is the contention of Mr. CS correct with reference to Para (1)? 519 MCQ
196 to 205)
Appointment and remuneration Considering the information given in Para (5), you are required to calculate the overall
of Managerial Personnel (Sec Net Profit Calc - Sec 198 managerial remuneration payable under section 197 of the Companies Act, 2013 subject 520 Desc.
196 to 205) to the provisions under Sc
With reference to para no. (2), compute the overall managerial remuneration payable
of Managerial Personnel (Sec Net Profit Calculation Sec 198 1071 Desc.
under the provisions of Companies Act, 2013 subject to provisions under Schedule V.
196 to 205)
Explain the reasons for which a Managing Director or the whole time director may be
of Managerial Personnel (Sec Premature termination Sec 202 100 Desc.
denied the compensation for loss of office.
196 to 205)
Appointment and remuneration Based on the information provided in first para on page 18 (of printed copy of Question
Remuneration payable to
of Managerial Personnel (Sec Sec 197 Paper; “The terms of appointment of Mr; ‘!’ -------------- effective capital of the Company is 341 Desc.
directors
196 to 205) ` 250 crores;”) a
Appointment and remuneration PEL proposed to pay 5% of net profits as commission to its directors (other than managing
Remuneration payable to
of Managerial Personnel (Sec Sec 197 and whole time directors). Comment whether PEL can pay such commission, as per the 14 Desc.
directors
196 to 205) Companies Act, 2013.
Appointment and remuneration Rahul, Riya & Rohan need to decide on the Maximum Managerial Remuneration they can
of Managerial Personnel (Sec Remuneration to Directors get as Directors; So, on a reading of section – 197 of the Companies !ct, 2013 read will 637 MCQ
196 to 205) Schedule V, the maximum perc
State among the following companies, which company shall not annex secretarial audit
of Managerial Personnel (Sec Secretarial audit 675 MCQ
report with its board report
196 to 205)
Appointment and remuneration With reference to para no. (3), the director may receive remuneration under the
Sec
of Managerial Personnel (Sec Sitting Fees Companies Act, 2013 by way of sitting fee for attending meetings of the board which shall 1070 MCQ
197(5)
196 to 205) not exceed:
Referring Para 1, when can such arbitral award be enforced by Vratam Ltd., if no
Arbitration - Been For Setting
Arbitration - Not in Syllabus application for setting aside the arbitral award has been filed by the other party, and how 488 MCQ
Aside The Arbitral Award
such award would be enforce
Referring Para 1, state whether the parties under the joint venture agreement will be able
Arbitration - Considering The
Arbitration - Not in Syllabus to refer the dispute, if any, to the arbitration considering the given scenario and the 516 Desc.
Given
provisions of the Arb
With reference to Para 1, by what date, can the other party file an application for setting
Arbitration - Not in Syllabus Arbitration - Granted Set aside such arbitral award and if maximum extension is granted by court, then till what 487 MCQ
date, such applicatio
State the type of arbitration agreement made between Vratam Ltd. and the other party.
Arbitration - Not in Syllabus Arbitration - Will 489 Desc.
What will happen if the agreement does not have any clause relating to arbitration?
Response to specefic What would be your response to Thompson regarding the specific requirements of the
Companies Act Provision requirements (compliance and Indian Companies !ct, 2013 relating to ` Need for setting up a compliance and 383 Desc.
governance committee ) governance committee ` Compliance audit
Drafting Resolution for
Companies Act Provision Draft a board resolution for appointment of Mr. Himanshu in Apsflon Limited. 491 Desc.
Appointment of MD
The company did not hold any AGM as on 30th September 2019. As on 10th October
Companies Act Provision AGM Sec 96 585 MCQ
2019, what are the options available for the company?
Draft a “Board Resolution” for charging Mr; W, Chief !ccountant, with the duty of
Companies Act Provision Board resolution drafting Compliance with the provisions of Companies Act, 2013 regarding books of accounts and 675 Desc.
Balance Sheet and Statement of P
What maximum shares the board of PBL could have resolved to buy-back without having
Companies Act Provision Buy-Back Sec 68 516 MCQ
to obtain approval of the company by special resolution? Refer para 4.
What is the Net Worth of the Company as per the Management prepared financial
Companies Act Provision Net Worth Sec-2(57) 413 MCQ
statements as at 31st March, 2017? (` in Lakhs)
Compromises, Arrangements
With reference to the information given under Para 2, examine how the scheme for
and Amalgamations (Section Approval of Scheme Sec 230 1033 Desc.
amalgamation was approved by the required majority of members of Aspan Ltd.?
230 to 240)
Compromises, Arrangements In terms of case study given, explain whether the scheme got proper approval of the
and Amalgamations (Section Approval of scheme Sec 230 members or not. Also explain the procedure for compromise or arrangements with 118 Desc.
230 to 240) creditors or members as per the provi
Capital Reduction of 'Yamuna' can be carried out along with the proposal of ‘Magnum' to
and Amalgamations (Section Capital Reduction Sec 230 445 MCQ
merge with 'Yamuna' if approved by all the stakeholders/appropriate authority.
230 to 240)
Compromises, Arrangements With reference to the information given under Para 2 and 3, what shall be considered as
and Amalgamations (Section effective date of amalgamation the effective date for scheme of amalgamation and creditors holding what minimum value 1032 MCQ
230 to 240) of debt would have agreed
Whether the proposal of 'Magnum' for the merger needs to be mandatorily pursued
and Amalgamations (Section Fast track option Sec 233 445 MCQ
under fast track option?
230 to 240)
Sec Meeting of the Creditors cannot be dispensed with under any circumstances under the
and Amalgamations (Section Meeting of the Creditors 446 MCQ
230(9) Companies Act, 2013
230 to 240)
notices have to be
Compromises, Arrangements Who are the stakeholders impacted because of the Reverse Merger proposal to whom the
sent/consent to be taken
and Amalgamations (Section required notices have to be sent/consent to be taken before the sanctioning of the 447 Desc.
before sanctioning Reverse
230 to 240) Scheme?
merger
Other Options instead reverse Sec Are there any other options available Instead of Reverse Merger Option? If so, please
and Amalgamations (Section 447 Desc.
merger 230(7) explain the same with your rationale.
230 to 240)
Compromises, Arrangements With the reference to the decision to acquire P B Private Limited by T limited, discuss the
Sec 235 &
and Amalgamations (Section Powers to dissenting S/h powers to acquire shares of Shareholders dissenting from scheme or contract approved by 196 Desc.
236
230 to 240) Majority and also di
Page 28
and Amalgamations (Section Reverse merger Sec 232 The Scheme, if approved, will be given effect to in the books of account on 445 MCQ
230 to 240)
Compromises, Arrangements The start-up is planning merger with another start-up engaged in similar activities. Which
Startup - Amalgamation under
and Amalgamations (Section of the following statements is in line with provisions of law regarding proposed merger of 838 MCQ
Companies Act
230 to 240) these start-ups?
The management of the company "Needs & Helps" believes that the CSR provisions are
CSR CSR Sec 135 not applicable to it. On discussion with Mr. Kapoor, they approach CA Nayyar to consult 1162 MCQ
the same. What should be CA N
After the havoc caused by a devastating Tsunami in Andaman & Nicobar islands, a group
CSR CSR Sec 135 of companies undertake during the period from October 2022 to December 2022 various 1164 Desc.
commercial activities, with co
Comment on the contention of Mrs. Kapoor as to the applicability of CSR Provisions to
CSR CSR Applicability ABC Foundation Ltd., provided it fulfils the criteria of Section 135 of the Companies Act, 1268 MCQ
2013.
During the financial year 2019-20, one of the senior officials of HW Limited named Mr. H
CSR CSR Committee was of the opinion that the company was required to constitute a Corporate Social 581 MCQ
Responsibility Committee of t
In the context of the case study, explain the provisions and requirement relating to
CSR Formation of CSR Committee 83 Desc.
formation of CSR Committee by the company under the Companies Act, 2013
Mr. Daivignay wants to know from you the legal position on certain matters relating to
CSR Various Matters Corporate Social responsibility (CSR) under the provisions of the Companies Act, 2013. 353 Desc.
Accordingly, in the light
Declaration and Payment of Assume that Talktime Pvt. Ltd. has complied with the depreciation requirement, comment
Depreciation Sec 123 1219 MCQ
Dividend upon the decision of its Board of Directors with respect to dividend.
Mrs. C has put forth her view on certain expenditures. However, she is unsure about legal
FCRA administrative expenses Sec 8 footing of her view and related matters described in case study. Which of following 1388 MCQ
statements is correct in this regard?
Sec Mr. X is worried that FCRA registration of trust is going to expire in year 2023 itself. Which
application for renewal of
FCRA 16+Rule of the following statements is most appropriate regarding renewal of registration of trust 1388 MCQ
certificate of registration
12 and receipt of foreign contributions under FCRA?
Certification from Chartered Accountant is required by DBS Trust in respect of certain
Certification from Chartered
FCRA Sec 18 matters under the FCRA described in case study. Which of following statements is true in 1389 MCQ
Accountant
this context?
Whether the electoral trust could have accepted donation from Nishalya Ltd. had its
FCRA Foreign Source 522 MCQ
board approved for the said donation? (Refer para 3)
Certain matters have been highlighted in case study which may have ramifications for
renewal of registration of trust under the FCRA. At the time of applying for renewal of
Sec 12+
FCRA renewal of registration registration of a person under the FCRA, 2010, Central Government is empowered to 1390 Desc.
Rule-9
make inquiry in respect of wide range of matters. Discuss those matters. Do matters
highlighted in case study fall among such matters?
Which of the following statements is likely to be correct regarding discussion among trust
FCRA transfer of contribution Sec 7 members for proposed transfer of contribution for carrying out its programme described 1389 MCQ
in case study?
What would be your advice to Ringing Bell in developing a framework for ensuring
FEMA Compliance framework 383 Desc.
compliance with laws and regulations in India ?
Mr. Amit Juneja wants to know from CA Parminder, the various modes of payment he can
FEMA General Guidelines for Imports use, to make payment to Malta Machineries for importing “X!LTI”; !lso, he requests her 908 Desc.
to guide on the time-limit f
With reference to Para 3, how much excess Indian currency can be said to have been
FEMA Import of foreign exchange brought by Mr. Prasidh into India from USA and whether any declaration needs to be 495 MCQ
given in case of the USD currency
Mr. Christopher plans to repatriate from India sale proceeds of villa. Which of the
FEMA LRS 830 MCQ
following statements is most appropriate in this regard?
With reference to Para 3, what could be the maximum amount of penalty, if any, that
FEMA LRS could be levied upon Mr. Jatin in respect of foreign exchange remitted by him? Answer in 496 MCQ
terms of Liberalised Remitt
!ssess the CFO’s assertion regarding PTPL’s ability to proceed with the investment in SL’s
FEMA Overseas Rules, 2022 733 MCQ
200-acre plantation.
process of acquiring of shares What is the process of acquiring of shares of an existing company abroad under the
FEMA 136 Desc.
of an existing company abroad Foreign Exchange Management Act, 1999?
Sec With reference to information given under Para 6, what would be his residential status
FEMA Residential Status 2(u)/(v)/( under the Foreign Exchange Management Act, 1999 during the Financial Years 2022-23 466 Desc.
w) and 2023-24?
Sale of property in India - FEMA Mr. Christopher, a non-resident, is planning to sell his villa in Goa. Examine validity of
FEMA 831 Desc.
Implication transaction w.r.t FEMA, 1999.
Considering the given legal position of the execution of the trade through the payment of
FEMA Schedule I, Rupee State Credit commission on export under Rupee State Credit Route, comment on correctness of advice 729 MCQ
of CFO on such remittanc
setting up a jointly controlled What are the formalities under the Foreign Exchange Management Act, 1999 for setting
FEMA 136 Desc.
entity abroad up a jointly controlled entity abroad?
Studies abroad & gift - Para I of Advise Shashank (client 4) whether he can get Foreign Exchange and if so, under what
FEMA 1205 Desc.
Schedule III condition(s)?
Explain in brief but in sequential manner, various steps required to be taken by Telecom
Foreign Company Foreign Co. Sec 379 Inc. under the Companies Act, 2013 and the Foreign Exchange Management Act, 1999 148 Desc.
before commencing its business
Foreign Nationals or entities can hold ________ of the shares in Ahuja Designs Ltd. if
Foreign company Foreign company Sec 2(42) 644 MCQ
incorporated as a Foreign Co. In India.
Under OPTION – C, Mr; Mehta would be required to deliver various documents to
Foreign company Documents Sec 380 1149 MCQ
Registrar of Companies under the provisions of the Companies Act, at
Foreign company Foreign Co. definition Sec 2(47) What is the status of Zen Ltd. as per the provisions of the Companies Act, 2013? 1150 MCQ
Page 29
If Ahuja Designs Incorp. conducts any business activity in India through Electronic mode, it
Foreign company Foreign company means carrying out electronically based, whether main server is installed in India or not, 643 MCQ
including, but n
!huja Designs Ltd;’ would require to file all the information & documents with the
Foreign company Foreign company jurisdictional ROC within 30days of the establishment of its place of business in India in 644 MCQ
FORM:
Head office’ of !huja Designs Ltd; would be the place where the company’s Senior
Foreign company Foreign company management and their direct support staff are predominantly located and not where the 644 MCQ
majority of its employees work or
As regards transaction with Mr. D, one of the directors, state few audit procedures
Foreign company Foreign company - Definition Sec 2(42) pertaining to transaction to be performed by CA Krit Garg. Discuss probable purpose of 921 Desc.
such audit procedures also.
In the above case, Robert de Nero’s Branch Office in India proposes to offer subscription
Sec
Foreign company Sec 387(1) to securities of Alpha Units LLC. Before going with the subscription, the Branch office will 920 MCQ
387(1)
have to will have
With reference to the inputs provided in the Gist of Discussion-3 above, what is your view
admitting the application for
IBC with regard to the stand taken by NCLT in admitting the application of GL for initiating 246 Desc.
initiating insolvency proceeding
insolvency proceedin
With reference to the information given under Para 1, determine the place of supply in
IBC Consititution of COC respect of transactions involved in the work order delivered by SBL and also comment on 1279 Desc.
the tax levy to be made f
Mr. Kailash Dave would have been ineligible to be appointed as the Interim Resolution
IBC Ineligible - IRP 1278 MCQ
Professional of KPL if-
Mr. Tan texted the CFO of the company about the recent efforts to acquire those slots and
IBC institution of suits Sec 14 asked for his opinion on what the outcome might be. The CFO then sent you an email 1365 MCQ
asking you to analyze what verdict the Apex Court could deliver.
Priority in distribution of Provide the priority order which Mr. C would have laid for distributing the proceeds w.r.t.
IBC 1104 Desc.
Proceeds Roy LLP as per the provisions of the governing Code.
IBC Sec 31 Sec 31 Which authorities would have approved the resolution plan of KPL and in what sequence? 1278 MCQ
In respect of Para 2, what procedure Waqt Ltd. should have followed for filing such
Inspection, Inquiry and
Investigation with Cntral Govt Sec 210 intimation regarding investigation with the Central Government and whether the Central 485 MCQ
Investigation (Sec 206 to 229)
Government was bound to pass
Inspection, Inquiry and Sec In respect of Para 2, what amount of security would have been paid by Waqt Ltd.
Security reqd for Investigation 485 MCQ
Investigation (Sec 206 to 229) 210(3) regarding the investigation going on by the inspectors?
With reference to information given under Para 4, in case, the company desires to
Meeting of board and its power Stting Fees to indep & Women
Sec 197 increase sitting fees of independent Directors as well as woman Director from the existing 458 MCQ
(Sec 173 to 195) DR
` 40,000 per meeting, wheth
Meeting of board and its power With reference to Para 4, what formalities were required to be followed by Kiramji Ltd.
Guarantee for loan Sec 185 529 MCQ
(Sec 173 to 195) while providing guarantee for the loan given to Mr. Dishant?
In view of reluctance of statutory auditor to attend the Audit Committee meeting in the
Meeting of board and its power
Audit Committee Sec 177 given case study, you are required to comment on the Role of Auditor in Audit 88 Desc.
(Sec 173 to 195)
Committee. Also comment whether th
Meeting of board and its power constitution of Audit Explain the constitution of Audit Committee as per the provisions of the Companies Act,
Sec 177 118 Desc.
(Sec 173 to 195) Committee 2013 and SEBI (LODR) Regulations 2015
In the above case study one of the directors of STYZ Limited named Mr. B without
Absent from all meeting informing to Board of Directors was absent from all the meetings of Board of Directors 613 MCQ
(Sec 173 to 195)
held during the period of past 1
The Board of Directors of Happy Crunch Ltd. was befuddled whether the adjourned
Adjourned meeting Sec 174 meeting of the Board can be held on the day of Diwali? Please guide them the appropriate 559 MCQ
(Sec 173 to 195)
course of action.
The opinion of Mr. R (one of the directors of STYZ Limited) was that STYZ Limited was
Audit Committee required to constitute an Audit Committee if turnover of STYZ Limited as per the last 614 MCQ
(Sec 173 to 195)
audited Financial Statements
Board meeting Sec 173 !dvise on the Board’s decision regarding its meeting held in London 675 Desc.
(Sec 173 to 195)
Since the point of board meetings has come up during the audit, the directors had a
Board Meeting Sec 173 detailed discussion on the same with the member of your firm who’s taking care of 585 Desc.
(Sec 173 to 195)
company law matters. What are the
Rohan, one of the Directors of Haryali Pvt Ltd., residing in Bengaluru, usually attends the
Board meeting Board Meetings through Video-Conferencing. However, he is not allowed to attend the 637 MCQ
(Sec 173 to 195)
Meeting of Board of Dire
Meeting of board and its power List the provisions of the Companies Act, 2013 w.r.t. holding of Board Meetings by Haryali
Board meeting 639 Desc.
(Sec 173 to 195) Pvt. Ltd.
Meeting of board and its power For the calendar year 2018, the company has violated the provisions relating to board
Board meeting 585 MCQ
(Sec 173 to 195) meetings as per the Companies Act, 2013
Meeting of board and its power Whether the Surya Limited has defaulted in conducting board meetings as per Companies
Board Meeting Frequency Sec 173 1047 MCQ
(Sec 173 to 195) Act, 2013?
In respect of the data given for M/s. Rubber Technologies and Solutions Limited (RTSL),
Borrow by BOD Sec 180 analyse the borrowing powers of the Board, of Directors and the procedure to be followed 664 Desc.
(Sec 173 to 195)
by the Company in the l
Under which section of the Companies Act, 2013, the members are required to pass a
Borrowing Sec 180 resolution in its general meeting held on 30th September, 2022, for the nature of 1021 MCQ
(Sec 173 to 195)
business/agenda mentioned in Notice
Meeting of board and its power Sec With reference to Para 4, what maximum amount the board of PBL could have resolved to
Borrowing 515 MCQ
(Sec 173 to 195) 180(1) borrow without having to obtain approval of the company by special resolution?
Would your answer in Q. no. 1 change if Jas Jagish Ltd. was a private limited company and
Charitable Fund Sec 181 whether any permission was required by Mr. Sameer for holding such position in the 521 MCQ
(Sec 173 to 195)
trust? (Refer Para 1 & 2)
With reference to information given under Para 1, (a) Whether Chandhriv Ltd. could have
Charitable Fund Sec 181 made such contribution to Krut Foundation? (3 Marks) (b) Whether Mr. Matvar can be 461 Desc.
(Sec 173 to 195)
held guilty of professional m
Page 30
Meeting of board and its power Contribution by Jas Jagish Ltd., as referred under Para 2, is in excess of ` ______ for which
Charitable Fund - Sec 181 521 MCQ
(Sec 173 to 195) it would require prior permission of the company.
Meeting of board and its power By which time the company, Softbharti private limited, should have held its first board of
First Board Meeting Sec 173 1238 MCQ
(Sec 173 to 195) directors meeting?
Meeting of board and its power With reference to Para 2, whether Samya Ltd. would have taken any approval for making
Investment in Equity shares Sec 186 515 MCQ
(Sec 173 to 195) further investment in VPL by acquisition of its equity shares?
Meeting of board and its power Investment of Funds - Directors With respect to information given in Issue 3, the resolution relating to investment shall be
1408 MCQ
(Sec 173 to 195) presence taken as passed by the Board in which of the following cases:
Meeting adjournment Examine the validity of Chairman’s decision to adjourn the meeting 675 Desc.
(Sec 173 to 195)
Meeting of board and its power Merger Scheme with 'related Any Merger Scheme which involves 'related parties' would not be approved under the
446 MCQ
(Sec 173 to 195) parties Companies Act, 2013.
With reference to the information given under Para 2, whether there were any
Meeting of board and its power Sec
Non-Cash transaction restrictions for VPL to sale its machinery to Mr. Devraj in exchange of a vehicle and if yes, 855 Desc.
(Sec 173 to 195) 192(1)
then what legal requirements
Rs.2.5 lakhs contributed by ATPL during the financial year ended 31.3.2018 to a political
Political Contriution party for running a school, situated in the village, where most of the workers of the 663 MCQ
(Sec 173 to 195)
Company reside:
Meeting of board and its power Whether the quorum required for conduct of board meeting of Softbharti private limited
Quorum Sec 174 1238 MCQ
(Sec 173 to 195) has been met on 10th May, 2022?
With reference to the information given under Para 1, whether the meeting held by board
Quorum - Meeting of directors Sec 174 of directors of Aspan Ltd. with respect to approval of the matter relating to amalgamation 1032 MCQ
(Sec 173 to 195)
can be considered as
What are the compliances which XYZ Limited, must have taken to comply with the
Related Party Sec 188 provisions of the Companies Act, 2013 for entering into an agreement for contract 154 Desc.
(Sec 173 to 195)
manufacturing for CDE Limited?
Stylish Technology Limited engaged in the manufacturing of mobiles and chargers. The
Retirement by rotation company’s Board of Directors consist of 8 directors i;e; Mr; Ram (Director), Mr; Shyam 674 MCQ
(Sec 173 to 195)
(Director), Mr. Mohan (Direc
With reference to information given under Para 4, choose the correct alternative from
selling the undertaking Sec 180 those stated below as to the procedure which is required to be followed by the company 458 MCQ
(Sec 173 to 195)
before selling the undertak
What is your assessment of Kumar's view as regards the ability of the courts under the
Oppression and
Rule of Majority Companies Act, 2013 to interfere with the internal management of companies acting 308 Desc.
Mismanagement
within their powers
Regulatio How should C! Om correct Mr; Rahul with respect to the latter’s understanding about the
SEBI (LODR) Audit Committee 1251 MCQ
n - 18(2) meetings of Audit Committee of the company?
In the light of the certificate of compliance of conditions of Corporate Governance to be
Compliance of conditions of
SEBI (LODR) issued to a listed entity, give your comments/responses to the situations given in para (e) 327 Desc.
Corporate Governance
above.
The Securities and Exchange Board of India (SEBI) has issued the Securities and Exchange
SEBI (LODR) LODR Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“LODR 628 MCQ
Regulations”); The ob
Assuming that Mr. Stephen is eligible to be appointed as a director. In line with
requirements, KG Airlines aimed to fill up the vacancy caused by resignation of Mr. K.B.
Chakraborty by nominating Mr. Stephen as an Independent Director. However, Mr. Ravi
Regulatio
SEBI (LODR) Max no of Directorship Kishan, a Board Director objected, contending that Mr. Stephen lacks eligibility for the 1333 MCQ
n 17A
Board position due to already occupancy of a position of independent director in 3 listed
entities. Evaluate Mr. Ravi's claim regarding Mr. Stephen's suitability for the position of
Independent Director on the Board.
Qualified and Independent Regulatio
SEBI (LODR) In respect of the data provided in para (h) above, 276 Desc.
Audit Committee n 18
Regul - Which of the following statements is correct with respect to the approval of the annual
SEBI (LODR) Regul - 17(6) 1252 MCQ
17(6) remuneration of Ms. Shweta?
Regul - Whether the understanding of Mr. Rahul is correct with respect to the appointment of
SEBI (LODR) Regul - 18(1) 1251 MCQ
18(1) chairperson of the Audit Committee?
Explain what CA Mehta would have briefed to Mr. Somesh relating to the Risk
Regulatio
SEBI (LODR) Risk mgt committee Management Committee in terms of the LODR (Listing Obligations and Disclosure 971 Desc.
n 21
Requirements) Regulations?
In year 3, the firm is approached by an investor for 10% stake and with an exit plan of 5
SEBI (LODR) SEBI law years from there. If the investment is to be taken from the investor what is the first 633 MCQ
compliance required?
For shares issued during the year, whether the Company is required to submit any
Submit of statements for shares
SEBI (LODR) statement to Stock exchange under SEBI (LODR) Regulations 2015? Which authority of the 21 Desc.
issued during the year
Company should review those fili
Regulatio Are the measures taken by the company with respect to vigil mechanism in line with the
SEBI (LODR) Vigil mechanism 970 MCQ
n 22 LODR (Listing Obligations and Disclosure Requirements) Regulations?
Page 31
SCPM By CA Rohit Chipper, AIR 17 CA Final, AIR 18 CA Inter SCPM
Type
Topic Question Initial wording Page
M/D
As referred under Para (3), HappyHomes Limited followed the activity-based costing method for analysis
Activity Based Costing (CVP) Analysis 519 MCQ
of its activities. Which of the following is not a classification of this method?
Agriculture sector - feature Which of the following is not a feature of agriculture sector? 584 MCQ
CONSTRUCT a Balanced Scorecard table for KG Airlines, identifying two goals along with corresponding
Balance Scorecard performance measures for each perspective. EVALUATE the relevance of these goals and performance 1334 Desc.
me
If the firm wants to achieve break even in the first year of operation, what would be break-even no. of
Break even point 634 Desc.
farmers subscribing to the App? Assume that each farmer will buy 10 numbers of only the 2-test p
You are required to reconcile the budgeted profit and the actual profit through marginal costing
Budgeting 670 Desc.
approach and provide a statement of reconciliation
IECL has to mandatorily use the, various categories of Capital defined in International IR framework and
Budgeting 668 MCQ
there is no option to change the same under such framework.
Budgeting The approach of the current budget formulation at IECL can best be termed 669 MCQ
Budgeting McDonaldization of the standard setting approach is more relevant for: 669 MCQ
Budgeting Beyond budgeting is a: 669 MCQ
Fresh Foods is in the service industry, where it is essential to link strategy to the management of human
resources. The partners would like to have a framework based on the Building Block model to assess
Building Block 1395 Desc.
performance management. Using performance management system as proposed by the model
EVALUATE the following questions:
Her specially crafted tea is authentic, unique in flavour that can be appreciated by real tea enthusiasts.
Change Drivers of DynamicBusiness Enviornemnt 728 MCQ
India’s economy has space even for niche tea enthusiast who are willing to pay a premium for
Please explain how provision for onerous contract made in the books of account have to be dealt with in
Cost and Price Statement 142 Desc.
preparation of computation of taxable income by HVCL for A.Y. 2018-19?
Cost calculation What is the total cost of calibration of SPMs purchased? 633 MCQ
What is the cost of SPM used for Mango, if all the SPMs were funded by bank (invoice value only) at a
Cost calculation 634 Desc.
cost of 10% p.a.? Assuming that it took 13 months for the machines to get ready for the intended u
With reference to the inputs given for KG Limited above, analyze the proposal and suggest if it would be
Cost of Poor Quality 192 Desc.
beneficial for the Company to implement it
Based on the costing related information provided by Mr. Abhinandanan, Manager (Finance) as above,
Cost Of Quality (Coq) examine the new quality control proposal and recommend the acceptance or otherwise of the proposal 353 Desc.
bo
T!PL has the identified the following critical success factor (CSF) “Enhance customer experience by
Critical success factor maintaining the best on-time performance within the industry” Which one of the following would be the 1364 MCQ
most suitable key performance indicator for this CSF?
The partners have identified certain critical success factors (CSFs) for Fresh Foods like tracking menu
critical success factors offerings that maximize customer satisfaction, customer service related parameters like complaints, 1395 MCQ
customer response time etc. Which of the following is true about CSFs?
Calculate the current cost and profit per unit and identify the non-value added activities in the production
Current Cost & Profit p.u. 192 Desc.
process
Customer Account Profitability Critically ANALYZE this statement and ILLUSTRATE whether it is always true. 727 Desc.
Customer Profitability Provide a critical ANALYSIS of the difference in profitability of each customer. 731 Desc.
A third customer and a couple of others are in the pipeline and due for conversion any time soon. The
customer profitability 568 Desc.
management wants to know the customer-level profitability of Tada Motors and Force Motors so that
Given this bleak outlook, PTPL has reached a conclusion that it has reached a stage of maturity in this
Forward/ Backward Integration 732 MCQ
business, which of the following actions by the management will not be in the overall interests
The managers of each unit have their performance assessed based on the surplus each division
Goal Congruence generates. Which of the following transfer pricing range will bring goal congruence between the 723 MCQ
plantation
Which of the following statement is true regarding the current expansion plan of RTL (acquisition of TKP)
Horizontal/ vertical integration 721 MCQ
and the expansion of RTL in the mid-1980s?
In order to drive up sales, PTPL started offering a teacup free for every 1 kg of “!1 Tea” bought per order;
Hyper Disruptive Business Models 728 MCQ
This would be an example of:
The directors are obsessed with the thought that in-house manufacturing will reduce the overall cost of
In-house Manufacturing 585 Desc.
the product on per unit basis. At the same time, they are unsure about the demand that will meet
Write a brief note addressed to the senior management, ADVISE critical points that need to be attended
JIT, ways to improve sales & Mkt share 725 Desc.
to in order to resolve this issue.
KG Airlines has decided to remove of expiration date on the frequent flyer miles. It has done this to
Kano Model improve customer satisfaction of its flyers. Using the Kano Model, which of the following attributes of the 1332 MCQ
Kano Model does this pertain to:
Whether the current practice of procuring the component from third party vendor is better than in -
Make or Buy 568 Desc.
house production of the component to be used in the company’s products, in financial terms? Evaluate;
McKinsey 7s Framework Assess each of the hard and soft elements based on the McKinsey 7s Framework. 1365 Desc.
Mendelow's Matrix #N/A #N/A MCQ
Minimum Price At which minimum price, Deepak should accept the offer of selling one machine to Universal bank? 1238 MCQ
What is the rationale behind adopting the new distribution channel of doing business directly with SGSs?
New Distribution channel & Value Proposition 731 Desc.
ANALYSE.
Outsourcing Provide your inputs in evaluating the outsourcing proposal of Guru duly considering its pros and cons 313 Desc.
A delivery van of the kind the company uses for supplying its finished goods to two companies currently,
Outsourcing 568 Desc.
is available at a finance cost of 8% p.a. for a price of Rs. 6 Lacs to be repaid over 4 years.
HappyHomes Limited decided to outsource the sets distributed in the Christmas carnival. When do you
Outsourcing 519 MCQ
think a Company should not opt for outsourcing, in the context of Para (2)?
You are being the Deputy Manager (Finance & Strategy) at RTL, have been requested to provide your
Porter 5 Force Model 719 Desc.
explanation behind the rationale behind this business decision taken in the mid-1980s. Also, based on
PTPL is using Porter’s Five Model to examine key aspects of tea industry and the impact that some of its
Porter 5 Force Model 734 MCQ
strategic decisions can have on various forces. One of the points being considered is the decis
Given are few parameters that need to be considered while using Porter’s Five Forces Model; Match the
Porter 5 Force Model 1333 MCQ
parameter to the appropriate category of the model:
One of the Marketing Managers believes that a product can also be sold below marginal cost. Is his view
Pricing Below Marginal Cost 6 Desc.
appropriate? Indicate the situations where pricing below marginal cost can be adopted.
Page 32
SCPM By CA Rohit Chipper, AIR 17 CA Final, AIR 18 CA Inter SCPM
Pricing strategy Minimum Price should be set at __________ 668 MCQ
Giving the case study scenario, which pricing strategy do you think that PTPL is following for its “!1 Tea”
Pricing strategy 727 MCQ
brand?
Which of the following statements would not be true as regards product pricing for the individual food
Product Pricing 1394 MCQ
items?
Calculate the impact of your plan in improving the profitability of IECL Limited and the key considerations
Profitability analysis 670 Desc.
that need to be factored by the management before implementation of the same.
X’ and ‘Y’ are two Prime Customers of Haryali Pvt; Ltd; who purchase a special category of Plant Saplings
Profitability analysis 639 Desc.
from the Company to distribute in various societies of the city under ‘Green India Initiative’
By using Marginal Costing approach, reconcile the budgeted profit and the actual profit and also provide
reconcile budgeted profit & actual profit 262 Desc.
a statement of reconciliation
Prepare a Buildup statement of Operating Income of Quick & Qual Sys by taking 2017 as a base and arrive
Reconciliation of Operating Income 399 Desc.
at 2018 operating income by deriving the extent of change in operating income from 2017 to 2018
You have been requested to ADVISE ways to reduce the collection period from the current average of 50
Reduction in Collection Period 726 Desc.
days to 30 days without creating any acrimony with distributors.
Revolutionary/ Evolutionary/ Me-too Product Which type of product would the premium economy seats be considered as? 1364 MCQ
Strategic performance measures in private sector - True Which of the following will not be true regarding the accountability in performance measurement system
1364 MCQ
Regarding The Accountability In Performance Mea for the Human Resource department at TAPL?
Supply chain highlights the interdependency of each part of the chain. When managing a supply chain, a
Sustainable business 734 MCQ
business may wish to ensure that the entire industry ecosystem (other entities) also remain susta
Target Cost p.u. Calculate the new target cost per unit for a sales price of ` 675 if the profit per unit is maintained. 192 Desc.
PTPL sells 1 kg of “!1 Tea” for `400; PTPL wishes to earn 10% profit margin on the same; Is the target cost
Target Costing 727 MCQ
being met?
Throughput accounting Throughput Accounting involves use of variance analysis 669 MCQ
The blending machine at Nagaon (Assam) Factory blends tea leaf varieties produced in the plantations of
Throughput Accounting 722 MCQ
RTL. Due to increased seasonal demand during the monsoon, the production of tea increases in thi
True Economic Value In value-based pricing, True economic value (TEV) can be obtained by: 585 MCQ
Since you have studied different methods of pricing as part of your CA course, you are confident of
True Economic Value 585 Desc.
advising your client on value-based pricing instead of digging-up the cost factors from the scratch.
value added activity Which of the following will not be value added activity? 1394 MCQ
Prepare an Application Statement of the Value added by IECL for the years ended 31st March, 2018 and
Value added statement 670 Desc.
31st March, 2017 and provide a reconciliation of value added with Profit before tax for the YE 31st
From the inputs given in the Statement of Profit and Loss for the year ended March 31, 2019, prepare a
Value Added Statement 263 Desc.
Value Added Statement for the year ended on that date. Also, show the reconciliation between tota
TKP has used the tag line “!nywhere-!nytime” to market its tea bags; With reference to the value
Value Proposition Map 722 MCQ
proposition map, please match the following −
Variance analysis The variance analysis used by IECL had an inherent problem of: 669 MCQ
Providing freedom and flexibility to managers to set their own targets in the budget setting process has
Variance analysis 669 MCQ
the potential danger of having:
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