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CS Executive Practice Test: Return of Income – CS Executive Tax Laws
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CS Executive Practice Test: Return of Income – CS Executive Tax Laws
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25 Questions

1. Zeit Ltd. engaged in the manufacturing of cement also had windmills to generate power. The entire power generated by it was used by its wholly-owned subsidiary Zoom Ltd. The amount received for the said power supply was ₹ 7 Crore. Zeit Ltd. disclosed a total income of ₹ 10 Crore for the assessment year 2021-2022.
The due date for filing return of income by Zeit Ltd. is
2. It is not mandatory for an assessee to file a return of loss if it pertains to
3. If there is an apparent error in the intimation dated 11th June 2020 issued u/s 143(1), the time limit for filing an application for rectification u/s 154 is available up to
4. Anil made the following transaction for the year ended 31st March, 20,19:
(a) acquired the immovable property for ₹ 6 lakh;
(b) made a term deposit (TDR) of ₹ 30,000 in a bank;
(c) paid ₹ 75,000 to a hotel for his birthday party and
(d) deposited ₹ 45,000 cash in his
Savings Bank (SB) account.
Quoting of PAN is mandatory in which of these transactions:
5. XYZ Ltd. filed its return of income for the A.Y. 2021-22 on 1st February 2022. The return was selected for scrutiny assessment u/s 143(3).
The Assessing Officer is required to serve upon the assessee a notice u/s 143(2) up to
6. Zeit & Co. is a partnership firm whose turnover for the previous year 2020-21 was ₹ 220 lakhs.
The ‘due date’ for filing the return of income of the firm is:
7. A fixed deposit of ₹ 90,000 made by Mr. P on 5.11.2015 was detected on 7.9.2020. The time limit for issue of notice u/s 148 is:
8. As per Section 234F of the Income Tax Act, 1961, where a person required to furnish a return of income u/s 139, fails to do so within the time prescribed time, he shall pay, by way of fee, a sum of if the return is furnished on or before the 31st day of December of the assessment year,₹ 1
9. For the previous year 2020-21, an assessee suffered a business loss of ₹ 2,50,000. His income from other sources is ₹ 1,80,000. His due date of return was 31st July 2021 but he submitted the return on 9th September 2021.
The assessee in this case
10. Any person who has not filed the return within the time allowed under section 139(1) may file a belated return:
11. Quoting of PAN is not necessary in the case of
12. The due date of filing return of income for the assessment year 2021-22 in case of a working partner of a firm whose accounts are liable to be audited shall be
13. An apparent error in the assessment order passed u/s 143(3) dated 15.11.2020 was noticed by the assessee in February 2021.
The time limit for seeking rectification of mistake is available up to:
14. Quoting of Permanent Account Number (PAN) mandatory when the cash deposit in a bank account exceeds:
15. A return filed by Ms. Mala was found to be defective. The Assessing Officer gave notice of the defect to the assessee.
The time limit for rectification of the defect is
16. The notice under Section 143(2) must be served within
17. A partnership firm having 9 trucks engaged in the business of plying these trucks on hire is to file its return of income for the AY 2021-22 on the basis of provisions of Section 44AE.
The partnership firm is required to file its return of income in
18. Chatterjee filed his return of income for the assessment year 2021-22 on 10.6.2021. He is eligible to revise his return:
19. The ‘due date’ specified u/s 139(1) for filing the return of income in case of companies engaged in international transactions and who have to furnish a report u/s 92E is
20. Hindu Undivided Family (HUF) of Vinay consisted of himself, his major son, minor son, and his wife. At the time of filing of return of income of the HUF for A.Y. 2021-22, Vinay was out of the country.
The return of income of the HUF can be signed in this case by:
21. Chand Ltd. filed its return of income on 7th December 2020 declaring a loss of ₹ 3,50,000.
Later, it noticed a claim of expenditure omitted in the return filed. The revised return
22. If the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may initiate proceedings of
23. Any person who has not filed the return within the time allowed under section 139(1), 139(4) or within the time allowed under a notice issued by the Assessing Officer under section 142(1), may file a belated return u/s 139(4)
24. The last date of filing return by a company which is required to furnish report referred to in Section 92E is
25. Rose Ltd. filed its return of income for the assessment year 2021-22 on 10th August 2021.
The notice under Section 143(2) for scrutiny assessment should be served on the assessee by

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