CS Executive June 2026 Question Paper Tax Laws and Practice

FOR CS EXECUTIVE EXAM PREPARATION

CS Executive 2026
Question Paper · Tax
Laws and Practice
EXAM YEAR TYPE SUBJECT

CS Executive 2026 Question Paper Tax Laws and Practice
DATE

June 2026

Notes · Sample Papers · Previous Year Papers · Mock Tests

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Roll No. ..................................... : 1 :

Time allowed : 3 hours Maximum marks : 100

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Total number of questions : 6 Total number of printed pages : 20

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2.a ALL the references to sections in Part-I of the question paper relates to the a g
NOTE : 1. Answer

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ag tax Act, 1961 and relevant Assessment Year 2026-27, unless stated otherwise.
Income-

3. ALL the references to sections in Part-II of the question paper relates to the Provisions
of GST Laws and the Customs Act, 1962.
4. Wherever necessary, suitable assumptions can be made by the candidate and stated
clearly in the answer.
5. Working notes should form part of your answer.

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e is engaged in the business of manufacturing clothes.
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PART–I

1.
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He earned profit of ` 82,50,000gas per profit and loss account after debiting and crediting
Lalit, a resident individual, aged 54 years,

the following items :
a
Particulars Amount

(`)

(i) Depreciation debited in P & L A/c 16,50,000

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(ii) Short term capital gains on transfer of listed equity shares

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in a company on which STT is paid

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Income-tax refund received (includes interest on refund of

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` 5,000) 15,000

(iv) Dividend income from Indian companies (Gross) 15,00,000

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Additional information :

(i) Lalit installed new plant and machinery for ` 60 lakhs on 1.10.2025 which was put

to use on 1.1.2026. Depreciation (including additional depreciation) on this amount

is included in the depreciation debited to profit and loss account which has been

computed as per Income-tax Rules, 1962.

(ii) Advance tax paid during the year is ` 17,00,000.

(iii) He paid ` 40,000 as life insurance premium taken on the life of his married daughter

who is not dependent on him. The sum assured is ` 5,00,000 and the policy was

taken on 1.4.2020.

(iv) He paid ` 45,000 by cheque towards health insurance policy covering himself, his

spouse and his children.

(v) On 1.8.2025, Lalit withdraw ` 1.2 crores in cash from current account maintained

by him with HSBC Bank. There are no other withdrawals during the year. He regularly

files his return of income on time.

1/2026/TLP Contd. ........

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On the basis of the above information, you are required to give the following answers :

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(a) Compute the Total Income of Lalit for the assessment year 2026-27, assuming that

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he has followed default tax regime under section 115BAC.

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(b) Compute the Total Tax payable of Lalit for the assessment year 2026-27 as per

default tax regime under section 115BAC.

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(c) Compute the Total Income of Lalit for the assessment year 2026-27, assuming that

he has followed old tax regimem
s e under Income Tax Act, 1961.
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a (2 marks)

(d) Compute the Total Tax payable of Lalit for the assessment year 2026-27, assuming

that he has followed old tax regime under Income Tax Act, 1961.

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(2 marks)

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Suggest to Lalit that which tax regime will be beneficial for him .for the assessment
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year 2026-27.

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2. (a) Rajiv Gupta, aged 45, is employed as a Finance Manager in XYZ Pvt. Ltd., in

Mumbai. During the financial year 2025-26, he received the following emoluments :

Particulars Amount (`)

(i) Basic Salary ` 80,000 p.m.

(ii) Dearness Allowance (DA) 40% of Basic

(Forming part of retirement benefits) Salary

(iii) House Rent Allowance receive (HRA) ` 30,000 p.m.

(iv) Rent paid for house in Mumbai ` 35,000 p.m.

(v) Entertainment Allowance paid by employer ` 5,000 p.m.

(vi) Bonus (Annual) ` 1,00,000

(vii) Free use of company-owned car (engine < 1.6L) for both

official and personal purposes. Running and maintenance borne

by company. —

(viii) Employer’s contribution to RPF @ 15% of Basic Salary + DA —

(ix) Interest credited to RPF account @ 11% ` 88,000

You are required to compute the taxable salary income of Rajiv Gupta for the

assessment year 2026-27, assuming that he is not opting the default tax regime under

section 115BAC of the Income Tax Act, 1961.

1/2026/TLP Contd. ........

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(b) Ms. Neha, a resident individual, received the following incomes during the financial

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year 2025-26 :

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(i) Cash Gift of ` 80,000 from a close family friend on her birthday.

(ii)em A wedding gift of gold worth ` 1,20,000 from her maternal uncle on a
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her

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marriage on 20th June, 2025.

(iii) Received a Car gifted from her father on 15th August, 2025 (FMV ` 12,00,000).

(iv) Won a gift voucher worth ` 1,00,000 from a TV game show on

25th July, 2025.

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(v) Received a vacant plot of land (FMV ` 3,00,000) without consideration from

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a friend on 30th January, 2026.

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(vi) Rent of ` 20,000 per

letting out her plant and machinery. Letting out of plant, machinery is not the

primary business of Ms. Neha. During the financial year 2025-26, Ms. Neha

incurred ` 77,000 as repair charges on the Plant and machinery.

You are required to compute the income chargeable under the head ‘‘Income from

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Other Sources’’ for Ms. Neha for the assessment year 2026-27, considering that she

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has shifted out of the default tax regime under section 115BAC.

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(c) Ramesh, a resident individual, submits the following information for the financial year

2025-26 :

Particulars Amount (`)

Income from house property (Net) 60,000

Business A

Loss of the current year 2025-26 48,000

Brought forward loss of the year 2024-25 40,000

Business B

Profit of the current year 2025-26 1,50,000

Business C (Business discontinued on 10th April, 2025)

Profit of the period from 1st April, 2025 to 10th April, 2025 10,000

Brought forward loss of 2024-25 49,000

Business D (Business discontinued on 31st March, 2025)

Brought forward loss of 2024-25 45,000

Loss from the business of owning and maintaining horse race 9,000

Interest on debentures held as investments 90,000

Long-term capital loss on sale of shares 15,000

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Determine the Gross Total Income of Ramesh for the assessment year 2026-27 and
also calculate the amount of loss which can be carried forward for being set off

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in the next assessment year, assuming that he has shifted out of the default tax regime

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under section 115BAC of the Income Tax Act, 1961.

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ag Raghav, aged 34, a resident individual, furnishes the following details of investments

3. (a)

and expenses for the financial year 2025-26. His Gross Total Income (GTI) before

Chapter VI-A deductions is ` 9,00,000.

Details of investments and expenses are :

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full time graduation course at. Winners University in Bengaluru.
(i) Tuition fees of ` 60,000 paid for his two children (` 30,000 each) pursuing

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Principal repayment a s
l of housing loan taken from a relative – ` 70,000. The
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(ii)
property is self-occupied situated at Pune.

(iii) Mediclaim premium : ` 28,000 for self : ` 32,000 for parents (senior citizens)
paid through Credit Card.

(iv) Donation to Prime Minister’s National Relief Fund for ` 50,000 paid through

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Debit Card of Union Bank.

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. education :
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(v) Interest paid on education loan taken for his spouse’s higher

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` 48,000 through account payee cheque.

gla Cash deposit in PPF account : ` 1,15,000aon 31st March, 2026.
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(vi)

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Compute the deductions available under Chapter VI-A to Raghav for the assessment

year 2026-27. Assuming that he has not opted for Section 115BAC for the assessment

year 2026-27.

(b) Mr. Bhanu, a citizen of India, stay 45 days in India during the financial year 2025-

26, earlier to this year he always stayed in India. He provides the following income

details during the year ended 31st March, 2026 :

(i) Salary received in India for 45 days – ` 1,80,000

(ii) Interest on saving bank deposit in HDFC Bank (India) – ` 20,000

(iii) Amount brought into India out of past untaxed profits earned in Japan –

` 70,000

(iv) Income from agriculture in Sri Lanka, retained there – ` 62,000

(v) Income from business in Nepal, controlled from India – ` 55,000

(vi) Dividend received in USA from a US company – ` 90,000, out of which

` 30,000 was remitted to India during the year.

Compute the Gross Total Income of Mr. Bhanu for the assessment year 2026-27.

Assuming that he has followed default tax regime under section 115BAC of the Income

Tax Act, 1961.

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(c) Anupam owns a residential house property in Noida (UP). It has two equal residential

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units–Unit I and Unit II. Unit I is self-occupied by Anupam for his residential purpose,

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while Unit II is let out at ` 10,000 per month to Mr. Pranshul.

.c value of the property is 10 times of the Annual Municipal tax. Standard em
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Municipal

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ag of such property for the financial year 2025-26 is ` 36,000, 50% of such municipal
Rent is ` 3,00,000 per annum and fair rent is ` 70,000 per quarter. Municipal

tax is paid by Mr. Pranshul and remaining 50% is still outstanding till 3l-03-2026.

Other expenses for the financial year 2025-26 being repairs : ` 2,500, Property

Insurance : ` 6,000, Interest on capital (borrowed from bank during 2020-21) for

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the constructing the property : ` 1,65,000.

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ehemhas opted out of default tax regime under section
Compute the Income from House Property of Anupam for the assessment year

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2026-27 on the assumption that

115BAC of the Income a Tax

Attempt all parts of either Q. No. 4 or Q. No. 4A

4. (a) Specify the persons who are not required to pay advance tax as per the provisions

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of the Income-tax Act, 1961. Is advance tax payable on capital gains and lottery

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income ? Give your answer with reference to the relevant provisions of the Income

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Tax Act, 1961.

a (5 marks)

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(b) Who all are required to mandatorily file the Return of Loss as per Section 80 of

Income Tax Act, 1961 ?

(c) Updated return under section 139(8A) cannot be filed if original return is a loss return

under section 139(3). Explain the validity of above statement in the context of Income

Tax Act, 1961.

OR (Alternative question to Q. No. 4)

4A. (i) On 10th January 2026, Amit (a bank employee) received ` 6,00,000 towards interest

on enhanced compensation from State Government in respect of compulsory acquisition

of his land effected during the financial year 2021-22.

Out of this interest, ` 2,50,000 relates to the financial year 2022-23; ` 1,85,000

to the financial year 2023-24; and ` 1,65,000 to the financial year 2024-25. He

incurred ` 50,000 on 25th October, 2025 by way of legal expenses to receive the

interest on such enhanced compensation.

Explain how much of interest on enhanced compensation would be chargeable to income

tax for the assessment year 2026-27, with legal provision as per Income Tax Act,

1961 ?

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(ii) Mr. Pankaj, age 85 years, a resident individual, gives the following particulars of his
Income for the financial year 2025-26 :

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Particulars Amount (`)

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Pension received from Central Govt. 4,00,000

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ag {allowed as per section 40(b)}
Salary received from Partnership firm

1,50,000

Interest on bank term deposits 3,50,000

Interest on bank saving a/c 50,000

Interest from Partnership Firm {calculated @ 10% p.a.} 80,000

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STCG on sale of dining furniture 90,000

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Compute the Total Income and Tax liability of Mr. Pankaj for assessment year

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2026-27 considering that he has opted the default tax regime under section 115BAC.

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(iii) Karan Bothra, a resident individual, provides the following details relating to the financial
year 2025-26 :

(i) Short-term capital loss from sale of shares (STT paid) : ` 1,20,000

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(ii) Long-term capital gain on sale of land : ` 2,50,000

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(iii) His wife, Mrs. Sunita Bothra who is Company Secretary, received ` 90,000

las a g
(after deducting TDS @ 10%) as professional fees

ag Company where Mr. Karan Bothra is a director.

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(iv) His minor daughter Kajal earned ` 1,50,000 (Gross) from a TV advertisement

contract.

(v) His minor son Kunal earned ` 80,000 as bank interest from a fixed deposit.

Compute the Total Income of Mr. Karan Bothra for the assessment year 2026-27,

if he has exercised the option of shifting out of default tax regime provided under

section 115BAC. Assuming that his wife’s income is lower than the income of Karan

Bothra for the financial year 2025-26.

PART–II

5. M/s Khatri Electronics Pvt. Ltd. a registered supplier in Bengaluru, Karnataka provides the

following information relating to the Inward and Outward supply made during the month of

August, 2025 :

S. No. Outward Supplies

1. Advance received ` 2,00,000 from Anurag of Karnataka for business support

services to be supplied in the month of September, 2025

2. Supplied Refrigerators worth ` 15,00,000 to a dealer in Kerala. It includes

freight of ` 50,000 incurred by Khatri Electronics Pvt. Ltd. as per the terms

of supply.

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3. Provided commissioning services worth ` 4,00,000 under Pure labor contract

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to M/s Blue Wings of Surat, Gujrat for Multi-storey residential complex.

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Supplied a latest technology laptop with touch screen option to Managing
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e Director’s friend for a consideration of ` 70,000 (open market value) as well
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ag as sale to unknown customers was at ` 1,25,000.

5. Provided a 5% cash discount for early payment on intra-state supply worth

` 2,00,000 (18% GST). Discount was pre-agreed and noted in the invoice.

Inward Supplies

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1. Raw materials from a local supplier : ` 6,00,000 @ 5%.

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2. Bought a SUV motor vehicle for official use : ` 10,00,000 + 18% IGST.

3. Purchased goods from Agarwal & Co., a registered composition dealer in the

state of Karnataka worth ` 5,00,000.

4. Purchased Industrial HVAC system (Capital Goods) from a registered dealer

of Mumbai : ` 8,00,000 + 18% IGST.
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. for providing
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Payment of ` 50,000 made to M/s ABC Caterers of Bengaluru

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daily breakfast and lunch to the employees of the company,

a welfare measure. GST Rate is applicable @ 5% on it.

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Balance available in electronic credit ledger of M/s Khatri Electronics Pvt. Ltd. at the beginning
of August, 2025 are :

CGST ` 50,000

SGST ` 45,000

IGST ` 20,000

Additional Information :

(i) M/s Khatri Electronics Pvt. Ltd. regularly filed its monthly GST Return on time. But
Annual Return under GST for the financial year 2024-25 was filed on 31st March,
2026. The turnover of M/s Khatri Electronics Pvt. Ltd. during the financial year
2024-25 was ` 6 crore.

(ii) Both the outward and inward supplies given above are exclusive of GST unless stated
otherwise.

(iii) Rate of CGST, SGST and IGST is to be charged 9%, 9% and 18% respectively
where no specific rate is provided.

(iv) All conditions necessary for availing the ITC have been fulfilled except mentioned
above.

Based on the above information, you are required to answer the following questions with
reference to GST Law :

(a) Compute the value of Output Tax Liability under GST for M/s Khatri Electronics
Pvt. Ltd. for the month of August, 2025.

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(b) Compute the value of eligible Input Tax Credit under GST for M/s Khatri Electronics

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Pvt. Ltd. for the month of August, 2025.

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s l as
em the Net minimum GST payable in cash (CGST/SGST/IGST) for M/sgKhatri
laElectronics Pvt. Ltd. for the month of August, 2025.
(c) Compute

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a
(4 marks)

(d) Explain the due date of filing of Annual Return u/s 44 of the CGST Act, 2017.

Is there any late fees is charged to M/s Khatri Electronics Pvt. Ltd. for delay filing

of Annual Return for financial year 2024-25 which was filed on 31st March, 2026 ?

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Also explain the provisions relating to late fees for filing of Annual Return under section

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a (6 marks)

Attempt all parts of either Q. No. 6 or Q. No. 6A

6. (a)
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Banshi Lal & Co., a firm of Tax Consultants, issued invoice for services rendered

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. in the following
c. o independent cases in the context on CGST Act, 2017 : se
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to Mr. Amit on 7th September, 2025. Determine the time of supply

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gla The provision of service was completed on a
a
(i) 1st August, 2025 and payment

was received on 28th September, 2025.

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(ii) The provision of service was completed on 14th August, 2025 and payment

was received on 29th September, 2025.

(iii) The provision of service was remaining to be completed. However. Mr. Amit
made the advance payment on 13th August, 2025.

(b) Shri Keshri Pvt, Ltd., a registered supplier from Rajasthan, furnishes the following
information relating to goods sold by it to Shri Balaji Pvt. Ltd. in Rajasthan, during
the month of December, 2025 :

S. Particulars Amount

No. (`)

(i) Price of the goods other than below item 1,00,000

(ii) Installation and testing charges for goods, not included in price 25,000

(iii) Freight charges from the Showroom of Keshri Pvt. Ltd. to

warehouse of Shri Balaji Pvt. Ltd., included in price mentioned

in Point No. (i) above. 12,000

(iv) Shri Keshri Pvt. Ltd. provides additional discount @ 1% at year

end, based on additional purchase of other machinery for which

adjustment is made at the end of the financial year without

any change in individual transactions. —

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(v) Late fees for delayed payment inclusive of GST 7,500

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[Shri Balaji Pvt. Ltd. paid the late fees. However, these charges

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were ultimately waived by Shri Keshri Pvt. Ltd. and the amount
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m . to Shri Balaji Pvt. Ltd. during the same month] s e
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was refunded

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(vi) l Weighment charges [Such charges were paid by Shri Balaji a
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Pvt. Ltd. to Radhe Pvt. Ltd. on behalf of Shri Keshri Pvt. Ltd.] 6,000

Compute the value of taxable supply made by Shri Keshri Pvt. Ltd. to Shri Balaji
Pvt. Ltd. for the month of December, 2025.

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machinery. The company provides the .following details of purchases made/services availed
(c) Arihant Ltd., a registered supplier from Rajkot, is engaged in the manufacture of heavy

s em2025 :
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by it during the month of July,

S. Particularsa GST

No. Amount (`)

(i) Purchase of iron which is used as a raw material 3,00,000

[Goods were received in two lots - first in July, 2025

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c. o (ii)
and the second in August, 2025]

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Purchase of accessories which were delivered directly to the
l a s 1,00,000

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dealers of the company on the direction of Arihant Ltd.

[Only invoice was received by Arihant Ltd.]

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(iii) Electrical Transformers to be used in the manufacturing process 4,25,000

(iv) Truck used for the transport of raw material 1,40,000

(v) General Insurance taken on Truck (used by company on

transportation of goods) 20,000

You are required to determine the ITC that can be availed by Arihant Ltd. for the month
of July, 2025 by giving brief explanations for treatment of various items. Subject to the information
given above, all the other conditions necessary for availing ITC have been fulfilled.

(d) M/s Rajkumar Enterprises have imported a machine from U.K. and furnished the following
particulars in relation to such import :

S. Particulars Amount

No.

(i) F.O.B. cost of the machine 20,000 U.K.

Pounds

(ii) Freight (air) 3,000 U.K.

Pounds

(iii) License fee relating to imported goods payable by the buyer as 20% of

a condition of sale F.O.B. Cost

(iv) Commission paid to a local agent in India on behalf of exporter ` 15,000

(v) Insurance paid to the insurer in India ` 28,000

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Other particulars :

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(a) Inter-bank exchange rate as arrived at by the authorized dealer : ` 92.50

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c.pero U.K. Pound. s e m
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(b) CBIC had notified for purpose of Section 14 of the Customs Act, 1944,

exchange rate of ` 90 per U.K. Pound.

Compute the assessable value of goods for the purpose of customs duty for

M/s Rajkumar Enterprises.

c om

.
s em to Q. No. 6)
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OR (Alternative question

6A. (i) g
Ramada Ltd., registereda under GST as normal taxpayer, is winding up its business

in Uttar Pradesh. The Tax Consultant of Ramada Ltd. has suggested that Ramada

Ltd. will have to file either the annual return or the final return at the time of voluntary

cancellation of registration in the state of Uttar Pradesh.

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Do you agree with the stand taken by Tax Consultant of Ramada Ltd ? Explain

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in the context of CGST Act, 2017.

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(ii) Determine whether the suppliers in the following cases are eligible for composition

levy, under section 10(1) and 10(2) of CGST Act, 2017 provided their turnover in

preceding financial year was ` 1.06 crore :

(a) Yash Enterprises is engaged in trading of pan masala in Maharashtra and its
supply is only in the same State.

(b) Anirudh Manufacturers has registered offices in Delhi and Haryana and supplies

goods in neighbouring States.

(iii) GST is payable on advance received for supply of goods and services taxable under

forward charge. Explain this statement along with correct legal provisions as per GST

Law.

(iv) Mention the names of any five ‘‘Types of Custom Duty’’ on Import Goods covered

under Schedule I of Custom Tariff Act, 1975.

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1/2026/TLP Contd. ........

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