Questions of Previous years 2006-2013

Questions of Direct Tax Laws:

1. Who are required to file tax return?
2. What is the time limit for filing tax return by assesses other than company? In what circumstances
a revised return can be submitted?
3. List the documents required for filing of appeal to the Appellate Joint Commissioner of Taxes, the
Appellate Joint Commissioner of Taxes and the Commissioner of Taxes (Appeal) and the Taxes
Appellate Tribunal.
4. State the names of authorities to deduct tax and the rates thereof in respect of fees for professional
or technical services, income of clearing and forwarding agents, export proceed of knit-wear and
over garments and export cash subsidy.
5. Under what circumstances an assessee is required to pay advance tax? How a person who has
not been assessed previously should pay advance tax? How advance tax is computer and paid?
6. What consequence will follow where a person fails to pay advance tax?
7. Who is to pay tax? How do you classify taxpayers?
8. Who and when to submit return and where?
9. How do you calculate penalty for non-submission of return?
10. How do you appeal when you are an aggrieved tax payer?
11. State the names of the authorities to deduct tax and the rates thereof in respect of following
payments together with other provisions of the law- payment to contractors and subcontractors,
interest on saving instruments, rental power company and rent payable to house owner.
12. What do you understand by deemed income? What are the provisions of section 19 in respect of
the following- unexplained expenditure, salami or premium, unpaid loan and loan taken by a
company from another company?
13. What is admitted liability of tax and when should it be paid? What is the consequence of non-
payment of the admitted liability?
14. State the circumstances, procedure and time limit for filing appeal to the Appellate joint/additional
commissioner of taxes and the Commissioner of taxes (Appeal).
15. Differentiate between the first appeal and second appeal in regard to appellant, appeal fee, time
limit for filing and time limit for disposal of appeals.
16. What are the time limits for issuing notices of assessment and finalization of assessment in the
following cases- no return has been filed and concealment or furnishing of inaccurate particulars.
17. What are the provisions of ITO, 1984 in the following cases- failure to pay advance tax, furnishing
an untrue estimate of income and submitting of inaccurate particulars of income.
18. Under what circumstances should an assessee pay advance tax?
19. What are the provisions regarding deduction of tax at source from house rent u/s 53A?
20. Define capital asset and salary.
21. State how the assessment is done in the following cases- assessment on correct return,
assessment after hearing, best judgment assessment and universal self assessment.
22. What are the penal provisions as per the ITO, 1984 in respect of the following defaults- failure to
maintain accounts in the prescribed manner, failure to file return of income u/s 75 & 77, non-
furnishing of certificate of deduction of tax u/s 58, non submission of IT return and failure to display
TIN certificate u/s 184C.
23. Who are required to pay advance tax? How advance tax is computer, estimated and paid? What is
the provision of IT law for failure to pay advance tax?
24. Discuss the provisions of the ITO 1984 regarding penalties for the following defaults- failure to file
return of income u/s 75, failure to pay advance tax u/s 64, failure to pay tax on the basis of the
return, failure to deduct or collect and pay any tax under Chapter VII of ITO 1984.
25. State the provisions with regard to settled liability scheme as per section 82C.
26. Describe the procedure of assessment on the basis of correct return.
27. What are the limits of exemption period of newly established industrial undertakings set up
between the periods of July 2008 to 2011 as per section 46B of ITO 1984? Also state the period of
income exempted under different circumstances.
28. Describe the circumstances under what an individual and a company shall be treated as resident
for the purpose of Income tax.
29. Briefly describe the provisions of IT law for set off and carry forward- business loss, loss under the
head capital gain and loss from agricultural income.
30. What are the provision of tax deductions at source for the following cases- payment on account of
supply of goods or execution of contracts, fees for professional and technical services, commission
of letter of credit, dividend and rent payable to an owner of a house.
31. When and how an assessee who has not previously been assessed should pay advance tax?
32. What are the essential features of a gift as per gift tax act 1990?
33. How the value of gift is determined under section 5 of the GTA?
34. What are the provisions under the Gift Tax Act with regard to submission of return?
35. State how the assessment is done under the following cases- on the basis of report of a CA,
discontinued business, persons leaving Bangladesh and income of a deceased person.
36. What are the provisions of IT law for set off of losses?
37. What are the provisions for carry forward of losses in case of loss in speculation business and
capital gains?
38. What are the provisions regarding tax deducted at source from payment on account of supply of
goods or execution of contacts u/s 52?
39. What are the ruling threshold exemption limit of sum for- having only agricultural income, women
and old person.
40. Salient features of universal self assessment, spot assessment, first appeal and second appeal.
41. Which gifts to what extent are exempted from gift tax? What are the salient points for valuation of
gift?
42. Characteristics of an assessee.
43. For whom submission of IT return is mandatory? What will the DCT do if an assessee fails to
submit the return u/s 75?
44. Differentiate between provisional assessment and regular assessment?
45. What are the provisions regarding spot assessment? What remedy is available to an assessee
aggrieved by the assessment made by the DCT?
46. Is there any exception in computing total income and tax of a resident and non resident? Explain
with example.
47. What are the differences and provisions of tax deduction and collection at source? What are the
consequences of failure to deduct or collect tax at source as per IT ordinance?
48. How is the value determined of a gift u/s 5 and rule 6? State the rate of tax as per gift tax.
49. Explain the provision of penalty for non submission of return and concealment u/s 12 of Gift tax act.
50. How is the residential status of an assessee determined under IT law? State the incidence of
taxation of resident and non resident in BD.
51. State the provisions of collections of tax from importer and deduction of tax at source from payment
on account of supply of goods and deduction of tax at source from commission paid to an agent of
a foreign buyer.
52. Advantages and disadvantages of tax deducted at source from the view point of tax payers?
53. State the provisions of IT ordinance in respect of-
a. Deduction of tax from interest on saving instruments
b. Collection of tax from importers
c. Deduction of tax from fees for technical service
d. Deduction of tax from export cash subsidy
e. Deduction of tax from income of non residents
f. Collection of tax from a member of stock exchange
g. Deduction of tax from interest on savings and fixed deposits
h. Deduction or collection of tax from commission or discount paid by an organization to
distributors for distribution of goods manufactured by the said organization.
Indirect Tax Laws Questions:
1. What are prohibited gods for imports under the Customs act 1969?
2. What are the good dutiable under section 18 of the Customs act 1969?
3. What is the procedure for supply and disposal of wastage or by products under VAT act 1991?
4. Differentiate between the followings under the purview of VAT act and rules- VAT rebate and duty
drawback, brand owner/proprietor and contract manufacturer, registration for VAT and turnover tax,
trading VAT at fixed value addition and actual basis value addition.
5. Explain trade discount under the purview of VAT act.
6. What are the various options for paying VAT for a trader?
7. Services that are subject to VAT at source.
8. What are the difference between exemptions and zero rate? What do you understand by
provisional assessment under the Customs act? In what circumstances, provisional assessment is
permitted? What is the time limit to make provisional assessment final?
9. Name the documents that are required to be submitted with the Bill of entry for clearance of
imported goods.
10. What is Input tax credit in the VAT system? Why it is important? Write the time limit which input
credit of input tax can be taken? Describe the circumstances when credit of input tax paid will not
be allowed under section 9 of VAT act.
11. Define bill of entry, price declaration, offences, penalties and bill of export.
12. Describe procedure as a commercial importer for selling imported goods to local customers as per
VAT guidelines.
13. When declared price of a company may not be accepted by VAT authorities? Describe appeal
procedures to be followed if DO fixes higher price than the declared price by the company.
14. Describe conditions for issuing VAT challan, identify applicability of VAT challan i.e. M-11/11KA &
M-11GHA for types of VAT registered person.
15. Define debit note and credit note. When credit note can not be issued?
16. Write the power of adjudication of VAT officials.
17. What are the changes made in the VAT & customs laws and rules in the budget of the year under
following heads- VAT deduction at source from suppliers as per section 6, turnover tax, central
registration, penalty as per section 37, time limit for disposal of case by the appellate tribunal, VAT
mgt for wastage and by products, prohibition of import of goods under section 15.
18. Are dividend and royalty taxable under the VAT act? Elaborate some important features of VAT in
Bangladesh. What is the meaning of supply? Who shall pay VAT?
19. What are the procedures of price declaration for charging VAT and SD? How the value be
determined for charging VAT? What are the tie and mode of payment of VAT? What are the
provisions if any person fails to collect, deduct and deposit the VAT?
20. Briefly discuss rebates of input taxes as per u/s 9? Procedure of appeal under the VAT and
customs act.
21. What is VAT? Name the few goods and services which are exempted from VAT? Is VAT charged
on goods exempted from import duties?
22. What is Tariff Value? Is VAT imposed on realized value or on Tariff value? In which cases, input
VAT rebate are not allowed?
23. What are the changes made in VAT and customs laws in the National Budget under the following
heads- ATV, PSI, VAT deduction at source, price declaration of goods having MRP, new items
under SD at local manufacturing stage, industries exempted from VAT .
24. What is turnover tax and to whom it is applicable? How it is to be paid of a certain tax period?
25. State appeal procedures under VAT act. In which section of VAT act offences and penalties are
laid down. Describe the offences and punishment under VAT act.
26. What is truncated value? Is there any limitation regarding trade discount in VAT? How is Mushak
challan important for getting rebate? What are the timelines for appeal at different authorities?
27. Under what circumstances goods can be delivered without payment of duty as per section 21 of
the Customs act 1969? How goods can be removed from one warehouse to other as per section
100 of the act?
28. Where price declaration is to be submitted? What information is included in price declaration?
29. Who is not allowed to take VAT rebate? What are the pre conditions to be fulfilled for issuance of
proper VAT challan?
30. What are the changes made in VAT & Customs laws and rules in the Budget under the following
heads- exempted goods sale and export sale, limit on turnover tax, investment limit by cottage
industry, rate of ATV, penalties, time limit for appeal, time limit for filing objection against rebate
disallowance and cancellation of central VAT registration.
31. Explain with examples- turnover tax, input as per VAT act, supply as per VAT act, truncated rate of
VAT, pre shipment inspection, central VAT registration and prohibitions of Import of goods under
customs act.
32. What are the current slabs in customs act? How is the input tax for a period calculated? Who
qualifies for VAT refunds?
33. Explain the 1st, 2nd and 3rd schedules of VAT act? Who is liable to register for VAT? Are supplies of
zero rated goods & services and exempted goods and services required to register for VAT?
34. How many VAT registration requires if there are 7 factories in the same premises which produce
different types of goods under the same owner?
35. What information do a Bill of entry contains? What are the other business documents required
along with Bill of entry?
36. What procedures are to be followed to release goods from port and who are the intermediaries in
the process? What compliances to be followed to for issuance of VAT challan?
37. What elements of loading are to be added to FOB to arrive at assessable value-ad? Name the
items of duty free import, each under- Tourists baggage (import) rules 1981 and Passenger (non
tourist) baggage (import) rules 2006.
38. Write the salient points indicating relevant section or SRO/Schedule/Rule/Form on- truncated VAT,
TOT and supplementary duty indicating ranges of SD.
39. What books and records are to be maintained by manufacture under the VAT act? Features of
supplementary duty.
40. Describe the time period for which goods to be stored in bonded warehouse. Describe the steps
followed for realization of government dues.
41. Describe the features of section 5 regarding the value. Write down the value declaration procedure
under the VAT act.
42. Differentiate between supplementary duty and turnover tax. Write down the value limits for
adjudications under the VAT act.
43. Salient features of credit and credit mechanisms under VAT act. If transaction value is not
acceptable, what are the other methods to be followed to determine the customs value under
GATT valuation agreement.
44. What are the other expenditures to be added with FOB value to determine assessable value?
Describe the value limits for adjudications of the officials of Customs.
45. Write down the features, functions and benefits of bonded warehouse with references to the
provisions of customs act.
46. What is transaction value? If transaction value is not acceptable for assessment, what are the other
methods used to determine assessable value?
47. According to the section 3, who pays VAT? When VAT is payable? Define turnover tax and its
salient features.
48. Describe the salient features of drawback for export under VAT act. Explain the submission and
examination of return form in details.
49. Give description of the books and documents which are required to maintain by a registered
person to determine tax liability of the person and by the manufacturer.
50. In which sections of VAT act, offences and penalties laid down. Describe the offences and
punishments of VAT.
51. State the procedure of licensing of private warehouses and cancellation thereof as laid down in the
section 13 of the customs act 1969. List the goods which can not be brought in Bangladesh by
air/land/sea (section 15).
52. State the procedures of charging VAT under the VAT act. Discuss the provisions with regard to
exemptions of VAT under the VAT act.
53. Under what circumstances, goods can be delivered without payment of duty as per section 21 of
Customs act 1969?
54. How goods can be removed from one warehousing station to another as per section 100 of
aforesaid act?
55. How the general power to exempt goods from customs duties is exercised by the customs
authority?