|
CA–IPCC TAXATION
NOVEMBER, 2013 EXAM PAPER ANALYSIS
BY
CA. RAJ K AGRAWAL |
100% Questions from concepts taught in Classroom
|
An Analysis of Exam Paper |
||||
|
Q. No. in Exam Paper |
Subject |
Chapter |
Attention Required in Question |
Similar
Q. No.
in our
Book
(AY 13-14) |
|
1(a) |
Income Tax |
Total Income |
Wealth Tax & Income Tax is personal expense whereas interest on Income Tax refund is income u/h Other Sources. |
Q23 |
|
1(b) |
Service Tax |
Negative List |
No, service tax on renting of residential dwelling and free services. |
Q46 |
|
1(c) |
VAT |
|
While computing cost of production, input VAT is to be ignored. Import Tax and CST is part of cost of production. |
Q45 |
|
2(a) |
Income Tax |
House Property |
No separate deduction for Light & Water Charges, Insurance Charges and Painting Expenses. |
Illustration 16 (Copied) |
|
2(b) |
Service Tax |
|
Excess Service Tax collected also need to be rendered to Government. |
Pg 52
(Volume III) |
|
2(c) |
VAT |
|
Input Tax Credit available for input as well as capital goods. |
Q49 |
|
3(a) |
Income Tax |
Salary |
Telephone Allowance is taxable, gift of ` 4,700 is exempt. |
Illustration 36 |
|
3(b) |
Service Tax |
|
Documents submitted with return |
Pg 60
(Volume III) |
|
3(c) |
VAT |
|
Composition Scheme |
Pg 93
(Volume III) |
|
4(a) |
Income Tax |
Capital Gain |
` 35 lakh shall be sale consideration. |
Illustration 14 |
|
4(b) |
Income Tax |
Other Sources |
50% i.e. ` 48,000 is taxable |
Pg62
(Volume II) |
|
4(c) |
Service Tax |
|
Service tax payable at the time of advance received. Self adjustment possible against future liability.
|
Pg 53
(Volume III) |
|
4(d)(i) |
VAT |
|
Addition Method |
Pg 92
(Volume III) |
|
4(d)(ii) |
VAT |
|
Yes, threshold limit provided to reduce complication of small dealers. |
|
|
5(a) |
Income Tax |
Exempt Income |
Sec. 10(48)
I told students, this is a new section important for exam. |
Pg 36
(Volume I) |
|
5(b) |
Income Tax |
PGBP |
Additional Depreciation not available on machine imported from colombo. |
Pg 151
(Volume I) |
|
5(c) |
Service Tax |
Negative List |
Selling Time Slot for Advertisement in Print Media is not taxable. |
Pg 7
(Volume III) |
|
5(d) |
VAT |
Objective |
Fill in the Blanks |
|
|
6(a) |
Income Tax |
Total Income |
Business Loss to be setoff first and thereafter Unabsorbed depreciation of earlier year. |
Q14 |
|
6(b) |
Service Tax |
|
Chargeability |
|
|
6(c) |
VAT |
|
Input Tax Credit inadmissible |
Illustration 1 |
|
7(a)(i) |
Income Tax |
Basic |
Definition of Assessee |
Pg 3
(Volume I) |
|
7(a)(ii) |
Income Tax |
PGBP |
B/f loss shall be setoff |
|
|
7(b) |
Income Tax |
Exempt Income |
Condition for claiming exemption u/s 11 & 12 |
Pg 39
(Volume I) |
|
7(c) |
Service Tax |
|
Value of Service when consideration is non-monetary |
Pg 27
(Volume III) |
|
7(d) |
VAT |
|
Deficiencies of VAT System |
Pg 89
(Volume III) |
|
Marks Weightage
(Subject Wise) |
|
Marks Weightage
(Theory, Practical & Objective) |
||
|
Income Tax |
62 |
Theory |
40 |
|
|
Service Tax |
29 |
Practical |
76 |
|
|
VAT |
29 |
Objective |
4 |
|
|
Total |
120 |
Total |
120 |
|
Out of 120 marks paper 100 marks was required to be attempted.
CAclubindia
