CA IntermediateTaxation2024

CA Intermediate - Taxation (2024)

Download and solve CA Intermediate Taxation question paper for 2024. Free English medium medium difficulty paper with model answers and explanations on Plainscan.

Question Paper

Question 1

singleResidential Status
2 Marks
Under the Income Tax Act, 1961, the residential status of an individual is determined based on his physical presence in India during the:
A.Previous Year only
B.Previous Year and the seven preceding previous years
C.Assessment Year only
D.Financial Year as declared by the individual

Question 2

singleSection 10 Exemptions
2 Marks
Which of the following incomes is EXEMPT under Section 10 of the Income Tax Act, 1961?
A.Salary received by an employee
B.Interest received on savings bank account
C.Agricultural income
D.Dividend received from an Indian company (above ₹10 lakh)

Question 3

singleHRA Exemption
2 Marks
An employee receives HRA of ₹24,000 per month. He pays rent of ₹18,000 per month and lives in Delhi. His basic salary is ₹60,000 per month. What is the exempt HRA per month?
A.₹12,000
B.₹15,000
C.₹18,000
D.₹24,000

Question 4

singleSection 24 Deductions
2 Marks
Under the head 'Income from House Property', which of the following deductions is allowed under Section 24?
A.Municipal taxes paid by tenant
B.30% of Net Annual Value as standard deduction and interest on borrowed capital
C.Cost of repairs and renovation
D.Insurance premium paid on the property

Question 5

singleSection 80C
2 Marks
Under Section 80C of the Income Tax Act, the maximum deduction permissible in respect of specified investments (like LIC premium, ELSS, PPF, etc.) is:
A.₹1,00,000
B.₹1,50,000
C.₹2,00,000
D.₹2,50,000

Question 6

singleSTCG Section 111A
2 Marks
Short-term capital gains (STCG) on listed equity shares sold on a recognized stock exchange (STT paid) are taxable under Section 111A at:
A.Normal slab rates
B.10% (plus surcharge and cess)
C.15% (plus surcharge and cess)
D.20% (plus surcharge and cess)

Question 7

singleComposite Supply
2 Marks
Under GST, the rate of tax applicable on composite supply where the principal supply is a taxable service is:
A.Rate applicable to the ancillary supply
B.Rate applicable to the principal supply
C.Average rate of both supplies
D.Highest rate among all component supplies

Question 8

singleITC Eligibility
2 Marks
Under the GST regime, a registered person can avail Input Tax Credit (ITC) on:
A.Personal use goods
B.Motor vehicles used for passenger transport (without specific business purpose)
C.Goods used exclusively for taxable supplies
D.Food and beverages for employees (not obligatory)

Question 9

singleThreshold Limit
2 Marks
The aggregate turnover threshold limit for mandatory GST registration (for normal states) is:
A.₹20 lakh
B.₹40 lakh
C.₹75 lakh
D.₹1 crore

Question 10

singleCapital Loss Set Off
2 Marks
Under the Income Tax Act, losses under the head 'Capital Gains' can be set off against:
A.Any other head of income in the same year
B.Only income under the head Capital Gains
C.Business income only
D.Salary income only

Question 11

singleDue Date for Filing
2 Marks
The due date for filing the Income Tax Return for an individual who is NOT required to get his accounts audited (for A.Y. 2024-25) is:
A.30th June
B.31st July
C.30th September
D.31st October

Question 12

singleSection 194A Threshold
2 Marks
TDS under Section 194A is deducted on interest (other than interest on securities) paid to a resident individual, when the interest exceeds:
A.₹5,000
B.₹10,000
C.₹40,000 (₹50,000 for senior citizens) for bank interest
D.₹1,00,000

Question 13

singleTime of Supply of Goods
2 Marks
Under GST, the time of supply of goods in a normal case is:
A.Date of issue of invoice
B.Date of receipt of payment
C.Earlier of: date of issue of invoice or last date by which invoice should have been issued
D.Date of removal of goods

Question 14

singlePerquisite - Rent Free Accommodation
2 Marks
Perquisite in the form of rent-free accommodation provided by an employer to an employee in a company-owned house is valued at what percentage of salary for cities with population exceeding 25 lakh?
A.5%
B.7.5%
C.10%
D.15%

Question 15

singleImmovable Property Services
2 Marks
Under the Goods and Services Tax Act, the place of supply for services related to immovable property is:
A.Location of the service provider
B.Location of the service recipient
C.Location of the immovable property
D.Location of the contract signing

Question 16

singlePartner Salary Section 40(b)
2 Marks
A firm pays salary to a working partner. The deductibility of such salary as per Section 40(b) is subject to:
A.Being authorized by the Partnership Deed and within the prescribed limits
B.Payment of applicable TDS only
C.Approval by the Income Tax Officer
D.Payment only in cash

Question 17

singleIndexation Benefit
2 Marks
The indexation benefit for computing Long-Term Capital Gains is available for:
A.All assets transferred after 3 years
B.Only listed equity shares
C.Assets like land, building, gold — but NOT for equity shares with STT paid
D.Only government bonds

Question 18

singleEligibility Restrictions
2 Marks
Under the GST Composition Scheme, which of the following traders CANNOT opt for the scheme?
A.A restaurant not serving alcohol
B.A manufacturer of goods (other than notified goods)
C.An inter-state supplier of goods
D.A trader with turnover of ₹1 crore

Question 19

singleInseparable Letting
2 Marks
Income from letting of plant, machinery, furniture along with buildings (inseparable letting) is taxable under which head?
A.Income from House Property
B.Income from Other Sources
C.Profits and Gains from Business or Profession
D.Capital Gains

Question 20

singleCGST SGST Rates
2 Marks
The CGST and SGST rates on most standard-rated goods and services under the GST regime are each:
A.5% each (total 10%)
B.6% each (total 12%)
C.9% each (total 18%)
D.14% each (total 28%)

Paper Details

  • Difficultymedium
  • LanguageEnglish

Mock Exam Settings

5 min25 max