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Taxation- Direct and Indirect
Jun 2025 Examination
Q1.
Mr. Gajendra, a business owner, failed to comply with Tax Deducted at
Source (TDS) provisions, leading to the disallowance of 30% of royalty payments
to Mr. Bani and 30% of employee salaries during the computation of business
income for AY 2023–2024. The royalty payment’s TDS was deducted but not
deposited on time, while salaries were paid without deducting TDS as required
under Section 192. Analyze the impact of this non-compliance on the firm’s tax
liability and financial statements. How could better TDS management have
prevented these disallowances? Propose strategies to strengthen TDS compliance
and mitigate future risks. (10 Marks)
Q2. XYZ Pvt. Ltd. operates across
multiple states, dealing with both direct and indirect taxes. The company’s
payroll involves TDS deductions, while its product pricing includes GST. The
management is concerned about the impact of TDS on employee cash flows and how
indirect taxes influence consumer behavior. As a consultant of XYZ Pvt. Ltd.
analyze the differences between direct and indirect taxes, and explain how TDS
fits into the taxation system? (10 Marks)
Ans 2.
Q3 (A) XYZ Ltd. regularly pays
consultants and vendors for professional services. In one instance, the company
failed to deduct Tax Deducted at Source (TDS) on a Rs.50,000 payment. As a
result, a portion of the expense was disallowed during tax assessment, increasing
the company’s tax liability. Explain the role of TDS in ensuring compliance
with tax laws and its effect on tax evasion.
(5 Marks)
Q3B. ABC Pvt. Ltd. has recently
started making monthly rent payments of Rs.50,000. To comply with tax
regulations, the company must manage its TDS obligations accurately. After
obtaining a TAN, the company deducts tax at the applicable rate and deposits it
with the government. Analyze the importance of obtaining a TAN for ABC Pvt.
Ltd. Explain the process of obtaining a TAN and its role in the TDS
system. (5 Marks)
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