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CS Executive Practice Test: Offences & Penalties – CS Executive Tax Laws
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CS Executive Practice Test: Offences & Penalties – CS Executive Tax Laws
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16 Questions

1. The maximum penalty leviable for failure to get accounts audited or to furnish report u/s 44AB is
2. As per Section 271 A, failures to keep, maintain or retain books of account would attract a penalty of –
3. The Assessing Officer, while scrutinizing the return of an assessee, finds under-reporting of income for the reason of misreporting of facts of such income.
He can levy penalty on such under-reported income resulting from misreporting of income up to tax
payable on such under-reported or misreported income
4. Penalty for failure to furnish report under section 92E is:
5. The amount specified in the notice of demand must be paid within days otherwise the assessee would be treated as assessee in default
6. As per section 9A, an eligible offshore investment fund shall furnish within 90 days from the end of the financial year, a statement containing information relating to fulfillment of specified conditions and such other information or documents as may be prescribed. A penalty of to be levied, if the investment fund failed to comply with the requirements as per section 271 FAB
7. Kadam sold vacant land for ₹ 15 lakh on 20th March 2021. The indexed cost of acquisition of the land is ₹ 12,00,000. He received ₹ 3 lakh being part of the sales consideration in cash and the balance through the Electronic Clearance System (ECS).
The AO can levy a penalty in such case on Kadam of an amount of:
8. The maximum amount of penalty for failure to get accounts audited required as per section 44AB of the Act from an accountant is:
9. The Assessing Officer while scrutinizing the return of an assessee finds under-reporting of income for the reason of misreporting of facts of such income and thus levied penalty on such under-reported income resulting from misreporting of income. The penalty to be imposed by the A.O. shall be at the rate of tax payable on such misreported income
10. As per section 234F of the Income-tax Act, 1961 maximum fee for failure to file the return of income before the 31 st day of December of the assessment year is
11. The maximum penalty leviable for underreporting of income which results from misreporting of income by the assessee is:
12. As per section 9A, an eligible offshore investment fund shall furnish within 90 days from the end of the financial year, a statement containing information relating to fulfillment of specified conditions and such other information or documents as may be prescribed. A penalty of to be levied, if the investment fund failed to comply with the requirements as per section 271 FAB
13. The amount specified in the notice of demand must be paid within days otherwise the assessee would be treated as assessee in default
14. Mr. Raj did not appear before the Assessing Officer in response to a notice issued under section 143(2). He repeatedly absented from appearing before the Assessing Officer.
How much could be the quantum of penalty the Assessing Officer could levy on Mr. Rajan for the failure,₹ 2
15. Mr. Raj did not appear before the Assessing Officer in response to a notice issued under section 143(2). He repeatedly absented from appearing before the Assessing Officer.
How much could be the quantum of penalty the Assessing Officer could levy on Mr. Rajan for the failure,₹ 2
16. When an assessee fails to furnish any information relating to a specified domestic transaction, the quantum of penalty as a percentage of the value of the transaction would be

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