A is an employee of ITC Limited. He is required to furnish evidence of tax deduction claimed by him in ___________ to ITC Limited.
1. Form No. 12B
2.Form No 12BA
3.Form No. 10E
4.None of the above
Posted Date:-2024-02-03 03:56:47
Alpha Inc. seconded sum of its employees to Beta India, who rendered services exclusively to the Indian Company. Alpha Inc. paid home salary and special allowance outside India to such employees amounting Rs. 300,000, while Beta India paid salary of Rs. 13,00,000 to them in India. The taxable salary in respect of such employee would be _________
1.Rs. 13,00,000
2. Rs. 16,00,000
3.Rs. 23,00,000
4.Rs. 6,50,000
Posted Date:-2024-02-03 03:55:14
Any person responsible for paying salaries shall be required to deduct tax at source at the average rate of income-tax computed on the basis of rates in force for the relevant financial year in which ___________
1. Payment is made
2.Account of employee is credited
3.(A) or (B), whichever is earlier
4.None of the above
Posted Date:-2024-02-03 03:52:01
In general the financial year from shall be from______
1.31st March of any year
2.1st April of any year
3.All of above
4.None of above
Posted Date:-2024-02-03 03:16:52
In which of the following cases would withdrawal from Recognised provident fund, be not liable to taxation ?
1.Withdrawal after 5 years of continuous services with one employer
2.Withdrawal due to circumstances beyond the control of the employee
3.Withdrawal after 5 years of continuous services with more than one employer both of whom have Recognised provident fund
4.All of the above
Posted Date:-2024-02-03 03:58:44
Interest on securities would attract TDS under Section 193 @ ________
1.5%
2.10%
3.20%
4.None of the above
Posted Date:-2024-02-03 04:00:55
Mr. Kamlesh withdraws Rs. 60,000 from his Recognised Provident Fund after completion of service of 4 years. Amount of TDS on such payment would be _________
1.Rs. 8,000
2.Rs. 6,000
3.Nil
4. None of the above
Posted Date:-2024-02-03 03:58:17
Mr. Ramesh withdraws Rs. 80,000 from his Recognised Provident Fund after completion of service of 8 years. Amount of TDS on such payment would be __________
1.Rs. 8,000
2.Rs. 4,000
3.Nil
4.None of the above
Posted Date:-2024-02-03 03:57:11
Alt+D is used to
1.Create any voucher
2.Delete any voucher
3. Copy any value
4. None of the above
Posted Date:-2024-02-03 03:34:55
Anil, an employee of Chariot Hotels Private Limited, receive a salary of Rs. 23,00,000. In addition to this, he also received tips of Rs. 6,00,000 during the year while working in the Hotel. The employer is required to deduct tax on __________
1.Rs. 17,00,000
2. Rs. 18,00,000
3. Rs. 23,00,000
4.Rs. 29,00,000
Posted Date:-2024-02-03 03:55:40
Any person responsible for paying salaries shall be required to deduct tax at source at the _________ of income-tax, computed on the basis of __________ for the relevant financial year.
1.Maximum marginal rate, rates in force
2.Average rate, rates in force
3. Average rate, 20%
4. Maximum marginal rate, 20%
Posted Date:-2024-02-03 03:51:33
Any person responsible for paying salaries shall be required to deduct tax at source at the ___________
1.Time of credit of account of employee
2.Time of payment
3. (A) or (B), whichever is earlier
4.None of the above
Posted Date:-2024-02-03 03:51:04
At the time of deduction of tax at source, surcharge and cess, is added in which of the following cases ?
1.Where the resident assessee receives any income in the nature of salary
2.Where the recipient is an Indian company
3.Both (A) and (B)
4.Neither (A) nor (B)
Posted Date:-2024-02-03 03:48:24
By default, which mode is on in Purchase and Sales voucher__________
1.Item Invoice Mode
2.Particulars Mode
3.Normal Mode
4.None
Posted Date:-2024-02-03 03:26:48
By which option Purchase or Sales register can be viewed?
1.Accounts Books
2.Display
3.Statutory Books
4. Inventory Books
Posted Date:-2024-02-01 09:20:54
From the following details, calculate the TDS which should be deducted by HBL India from salary of one of its employees : • Salary – Rs. 7,00,000 • Income from other sources declared by the employee – Rs. 1,00,000 on which TDS amounting Rs. 30,000 has been deducted.
1.52,500
2.54,600
3.42,500
4.45,400
Posted Date:-2024-02-03 03:54:46
How many options related to Company Features are there in “F11: Features” in Tally_____
1.7
2.5
3.3
4.1
Posted Date:-2024-02-03 03:28:56
How many primary groups are there in Tally_________
1.19
2.20
3.15
4.28
Posted Date:-2024-02-03 03:20:39
How many secondary groups are there in Tally_________
1.13
2.28
3.03
4.15
Posted Date:-2024-02-03 03:21:06
How many voucher types are provided in Tally to record transactions?
1.2
2.3
3.4
4.5
Posted Date:-2024-02-01 09:19:59
How many voucher types are readily available in Tally_______
1.16
2.18
3.28
4.20
Posted Date:-2024-02-03 03:22:47
In order to delete a voucher, press
1. Alt + D
2.Alt + F4
3. Alt + F3
4. None of the above
Posted Date:-2024-02-03 03:31:37
In Tally, what is the shortcut key to change the date of a transaction?
1. F3
2. Alt+M
3.F2
4. Ctrl+F
Posted Date:-2024-02-03 03:33:57
In Tally, while creating a company we can select a
1.State
2.Country
3. Both of the above
4. None of the above
Posted Date:-2024-02-03 03:45:16
M, made a, premature withdrawal from recognised provident fund . Such a withdrawal would attract TDS @ ________ under Section 192A.
1.5%
2.20%
3.10%
4. 0%
Posted Date:-2024-02-03 03:57:49
Mr. Jamil has received dividend on shares amounting Rs. 1,00,000 issued by Surekha India Ltd. during the PY 2022-23. Such dividend would be _________
1.Taxable at 10%
2.Exempt from tax in the hands of Mr. Jamil
3. Taxable at 20%
4.None of the above
Posted Date:-2024-02-03 04:04:02
Mr. Manjan withdraws Rs. 40,000 from his Recognised Provident Fund after completion of service of 3 years. Amount of TDS on such payment would be __________
1. Rs. 8,000
2.Rs. 6,000
3.Nil
4.None of the above
Posted Date:-2024-02-03 03:59:11
Mr. Mido is a trustee of a Recognised Provident Fund He shall not deduct TDS from premature withdrawal of provident fund where Miss. Rina, an employee gives declaration in Form ________
1.15G
2.15F
3.15A
4.15CA
Posted Date:-2024-02-03 03:59:39
Mr. Mohan is working as senior manager in HBL India. He is getting salary of Rs. 8 lakhs p.a. HBL India has given him rent free accommodation in Noida. Which of the following form would be given to him ?
1.Only Form 16
2.Only Form 12BA
3. Form 16 along with Form 12BA
4.None of the above
Posted Date:-2024-02-03 03:56:18
Mr. Shyam has resigned from XYZ India Ltd. on September 30, 2022. He has drawn salary of Rs. 30,000 per month and TDS of Rs. 3,000 has been deducted from such income. He has a joined new company ABC India on October 01, 2022 at salary of Rs. 35,000 per month. ABC India should, subject to provision of details from Shyam, deduct tax at source after considering salary of ____________ during the PY 2023-24.
1.Rs. 2,10,000
2.Rs. 3,90,000
3. Rs. 3,60,000
4. None of the above
Posted Date:-2024-02-03 03:53:02
Mr. Sunil withdraws Rs. 400,000 from his Recognised Provident Fund after completion of service of 3 years. However, he does not provide, his PAN number. The amount of TDS on such payment would be ___________
1.Rs. 120,000
2.Rs. 80,000
3.Nil
4.Rs. 40,000
Posted Date:-2024-02-03 04:00:17
No TDS shall be deducted on GST component included in invoice, where the amount of such GST is __________
1.Separately indicated in the invoice
2.Shown as a part of the invoice
3.Only when a separate invoice is issued in respect of such GST
4.None of the above
Posted Date:-2024-02-03 03:49:02
Once an employee has provided the details of other income to the new Employer (other than house property), it is ___________ for the new employer to deduct TDS, considering such disclosures.
1.Optional
2.Mandatory
3.Mandatory, provided that does not result in reduction of TDS otherwise deductible by the new employer
4.None of the above
Posted Date:-2024-02-03 03:54:11
Rs.20,000 withdrawn from State Bank. In which voucher type this transaction will be recorded______
1.Receipt
2.Payment
3.Post-Dated
4.Contra
Posted Date:-2024-02-03 03:24:25
Tally configuration files are stored in
1. Data Directory
2. Application Directory
3.Configuration Directory
4. None of the above
Posted Date:-2024-02-03 03:38:44
Tally data files are stored in
1.Data Directory
2. Application Directory
3.Configuration Directory
4. None of the above
Posted Date:-2024-02-03 03:38:18
Tally has been developed using
1. C
2. Visual Basic
3. C++
4.None of the above
Posted Date:-2024-02-03 03:35:44
Tally is developed by
1. EDP
2. TCS
3.Peutronics
4.None of the above
Posted Date:-2024-02-03 03:32:39
Tally package is developed by_________
1.Tally Solutions
2.Coral Softwares
3.Peutronics
4.Vedika Softwares
Posted Date:-2024-02-03 03:15:00
Tally programme files are stored in
1.Data Directory
2.Application Directory
3. Configuration Directory
4.None of the above
Posted Date:-2024-02-03 03:37:54
TDS from salaries has to be deducted by which of the following ?
1.Individual and HUF
2. Firms and LLP’s
3.Companies
4.All of the above
Posted Date:-2024-02-03 03:53:33
The backup file is stored as
1.TBK500.001
2.TAK500.001
3.TCK500.001
4.TDK500.001
Posted Date:-2024-02-03 03:39:10
The executable file of Tally is
1. Tally.Exe*
2.WinTally.Exe
3.Tally.ini
4.Tally.Sav
Posted Date:-2024-02-03 03:35:18
The location of saving data of company can be altered by changing the
1.Tally.exe
2. Tally.data
3.Tally.ini
4. Tally.sav
Posted Date:-2024-02-03 03:37:28
The maximum number of decimal places, that can be activated is
1.4
2.3
3.2
4.1
Posted Date:-2024-02-03 03:42:27
The number of predefined ledger(s) in Tally is/are
1.2
2.4
3.10
4.20
Posted Date:-2024-02-03 03:37:02
The proof obtained by an employer, from an employee in respect of deduction can be in respect of ___________
1.Prescribed claims
2. Set off of loss
3. Both (A) and (B)
4.Neither (A) nor (B)
Posted Date:-2024-02-03 03:52:35
Through _________ option, we can modify the ledger.
1.Alter
2.Display
3.Both of the above
4.None of the above
Posted Date:-2024-02-03 03:40:20
To define a ledger it is mandatory to maintain
1. Alias
2.Opening Balance
3.Group
4. None of the above
Posted Date:-2024-02-03 03:33:02
To pass a voucher from Daybook, directly we have to press
1.Alt + C
2.Alt + I
3.Ctrl + C
4.Ctrl + I
Posted Date:-2024-02-03 03:42:59
To pass the sales Order, we have to press
1. F5
2. Alt + F5
3.Ctrl + F5
4. None of the above
Posted Date:-2024-02-03 03:43:26
To pass the TDS transaction in the journal entry mode, we have to press
1.Alt+C
2. Alt+S
3.Alt+N
4. Alt+F4
Posted Date:-2024-02-03 03:45:42
To select configuration screen we should press
1. F11
2. F4
3. F12
4. F1
Posted Date:-2024-02-03 03:34:23
To view the Bank Reconciliation report, we have to press
1.F4
2. F5
3. F6
4. F7
Posted Date:-2024-02-03 03:44:51
We can create ________ level(s) of cost centres.
1. 10
2. 5
3.Single
4.Unlimited
Posted Date:-2024-02-03 03:43:52
We can specify the company to be loaded automatically in
1.Tally.sav
2.Tally.txt
3.Tally.info
4.Tally.ini
Posted Date:-2024-02-03 03:44:27
We can view the Interest Calculation report from
1.Accounts Info.
2.Accounts Book
3.Statement of Accounts
4. None of the above
Posted Date:-2024-02-03 03:40:48
What is the shortcut key to select a company?
1. F1
2. F2
3. F3
4.F4
Posted Date:-2024-02-03 03:33:34
What would be the rate of TDS, when interest amounting Rs. 14,000 was paid by an account cheque by a Public Company, in which the public are substantially interested, on debentures issued to an individual during the PY 2022-23, assuming PAN of the recipient is available?
1.5%
2.10%
3. 20%
4.Nil
Posted Date:-2024-02-03 04:02:11
What would be the rate of TDS, when interest amounting Rs. 4,000 was paid by an account cheque by a Public Company, in which the public are substantially interested, on debentures issued to individual during the PY 2022-23, assuming PAN of the recipient is available ?
1. 5%
2.10%
3.20%
4.Nil
Posted Date:-2024-02-03 04:01:23
What would be the rate of TDS, when interest amounting to Rs. 1,00,000 was paid on listed debentures issued in a dematerialized form to an Individual during the PY 2022-23 ?
1. 5%
2. 10%
3.20%
4.Nil
Posted Date:-2024-02-03 04:02:42
Where do we record all type of adjustment entry in Tally?
1.F4:Contra
2.F5:Payment
3.F6:Receipt
4.F7:Journal
Posted Date:-2024-02-01 09:20:31
Where do we record interest received, commission received or rent received in Tally__________
1.Payment
2.Receipt
3.Contra
4.Journal
Posted Date:-2024-02-03 03:24:52
Where do we record purchase return, sales return, depreciation, bad debts etc.in Tally_________
1.Payment
2.Journal
3.Contra
4.Receipt
Posted Date:-2024-02-03 03:28:26
Where do we record transactions of salary, rent or interest paid________
1.Journal
2.Contra
3.Payment
4.Receipt
Posted Date:-2024-02-03 03:25:14
Which is not the default group in Tally?
1.Suspense Account
2. Outstanding Expense
3. Sales Account
4.Investments
Posted Date:-2024-02-03 03:39:53
Which ledger is created by Tally automatically as soon as we create a new company________
1.Profit & Loss A/c
2.Cash
3.Capital A/c
4.Both A & C
Posted Date:-2024-02-03 03:23:23
Which menu appears after starting Tally for the first time____
1.Company Info
2.Gateway of Tally
3.All of above
4.None of above
Posted Date:-2024-02-03 03:18:45
Which menu is used to create new ledgers, groups and voucher types in Tally?
1.Masters
2.Import
3.Reports
4.Transactions
Posted Date:-2024-02-01 09:18:23
Which menu is used to create new ledgers, groups and voucher types in Tally______
1.Import
2.Masters
3.Reports
4.Transactions
Posted Date:-2024-02-03 03:19:17
Which of the following are not liable for deduction of tax at source u/s 193 ?
1.Interest on securities beneficially owned by an insurance company
2.Indian Railway Finance Corporation Limited 54ED Capital Gains Bond
3. Power Mortgage Corporation Ltd. 54EC Capital Gains Bond
4. All of the above
Posted Date:-2024-02-03 04:03:34
Which of the following equation is true for balance sheet________
1.Liabilities = Assets + Capital
2.Capital = Assets + Liabilities
3.Assets = Liabilities + Capital
4.All of above
Posted Date:-2024-02-03 03:29:22
Which of the following is not compulsory to create while entry in Accounts with Inventory_________
1.Stock Items
2.Stock Groups
3.Stock Categories
4.Units of Measure
Posted Date:-2024-02-03 03:27:33
Which of the following securities of the Central Government are liable for deduction of tax at source u/s 193 ?
1.7.75% Savings (Taxable) Bonds
2. 7.75% Savings (Non- Taxable) Bonds
3. 7.75% Investment (Taxable) Bonds
4.7.75% Investment (Non- Taxable) Bonds
Posted Date:-2024-02-03 04:03:08
Which option from Company Info. menu is selected to create a new Company in Tally____
1.Company Create
2.Create Company
3.New Company
4.Create
Posted Date:-2024-02-03 03:21:41
Which option is selected from Company Info Menu to divide company data into two financial years_________
1.Alter
2.Change Tally Vault
3.Split Company Data
4.New Company
Posted Date:-2024-02-03 03:14:31
Which option is true for viewing Profit & Loss A/C in Gateway of Tally________
1.Gateway of Tally > Reports > Profit & Loss A/C
2.Gateway of Tally > Account Books > Profit & Loss A/C
3.Gateway of Tally > Display > Profit & Loss A/C
4.None
Posted Date:-2024-02-03 03:25:46
Which option is used in Tally to close opened Company?
1.Alter
2.Shut Company
3. Create Company
4.Select Company
Posted Date:-2024-02-01 09:19:29
Which option is used in Tally to close opened Company_____
1.Shut Company
2.Alter
3.Create Company
4.Select Company
Posted Date:-2024-02-03 03:18:14
Which option is used in Tally to make changes in created company_______
1.Shut Company
2.Select Company
3.Alter
4.None of above
Posted Date:-2024-02-03 03:20:06
Which option is used to copy company’s data into pendrive or CD______
1.Restore
2.Copy Data
3.Backup
4.Split Company Data
Posted Date:-2024-02-03 03:16:17
Which option is used to move from one company to another when more than one companies are open_________
1.Select Company
2.Shut Company
3.Company Info
4.Company
Posted Date:-2024-02-03 03:17:48
Which option is used to open company created in Tally__________-
1.Alter
2.Select Company
3.Create Company
4.Shut Company
Posted Date:-2024-02-03 03:19:42
Which option is used to place data taken in pen drive or CD to Appropriate place in Tally___
1.Restore
2.Backup
3.Split Company Data
4.None of above
Posted Date:-2024-02-03 03:17:18
Which option is used to view list of Primary and Secondary groups in Tally_____
1.List
2.Accounts
3.List of Accounts’
4.None
Posted Date:-2024-02-03 03:22:20
Which shortcut key is pressed to go to company Info. Menu from Gateway of Tally?
1.Alt+F1
2.Alt+F2
3.Alt+F3
4.Alt+F4
Posted Date:-2024-02-01 09:18:02
Which shortcut key is used in ‘Company Features’ screen to use Inventory Features in Tally?
1.F1
2.F2
3.F3
4.F4
Posted Date:-2024-02-01 09:18:45
Which submenu is used to create new ledgers, groups and voucher types in Tally_____
1.Inventory Info
2.Account Info
3.Inventory Vouchers
4.Accounting Vouchers
Posted Date:-2024-02-03 03:15:53
Which unit is created for stock items like grain, pulse, sugar, oil, ghee etc._
1.Nos
2.Kgs
3.Box
4.Lts
Posted Date:-2024-02-03 03:28:00
Which voucher type is used to transfer amount from one bank to another__________
1.Payment
2.Receipt
3.Contra
4.Post-Dated
Posted Date:-2024-02-03 03:23:49
__ is the shortcut to reversing journal from Accounting Vouchers in Tally.
1.F10
2.Ctrl+F10
3.Alt+I
4.Alt+V
Posted Date:-2024-02-01 09:17:10
___ denotes reduction in money or increase in liability.
1.Accounting
2.Contra
3.Cash
4.Inventory
Posted Date:-2024-02-01 09:17:38
___ feature helps the administrator to track changes in the accounts.
1.Tally Audit
2. Tally Vault
3.Tally Gold
4. None of the above
Posted Date:-2024-02-03 03:42:03
___ is the shortcut to configure a company in Tally.
1. F2
2. F3
3. F4
4. F5
Posted Date:-2024-02-01 09:19:10
_____ key is used to print a report
1.Alt + F4
2. Alt + F3
3. Alt + P
4.None of the above
Posted Date:-2024-02-03 03:31:04
_______ is an advanced security system, which allows for encryption of the company data.
1. Tally Audit
2.Tally Vault
3. Tally Gold
4.None of the above
Posted Date:-2024-02-03 03:41:35