Cooperative Bank is not required to deduct tax on interest on time deposits made with them by __________
1.Private limited company
2. Listed company
3.Cooperative Society
4.All of the above
Posted Date:-2024-02-03 04:22:46
D Limited, manufactured certain toy cars for ABC Private Limited, for which the necessary material was provided by AEC Private Limited. The service charges for such work were Rs. 50,000, which was separately mentioned alongwith the gross amount of material supplied, worth Rs. 4,50,000. In such a case, the TDS deducted would be ___________
1.Rs. 1,000
2.Rs. 10,000
3.Rs. 500
4. Rs. 5,000
Posted Date:-2024-02-03 04:36:09
Jannat India Ltd. has to make payment of Rs. 40,000 per month to Jahannum Pvt. Ltd. for operation and maintenance of factory premises. At what rate, TDS would be deducted under section 194C ?
1.2%
2.1%
3. 0%
4.10%
Posted Date:-2024-02-03 04:31:07
Jeenal has won prize money of Rs. 10 lakhs in realty show, Kaun Banega Multi Lakhpati. TDS would be deducted @ ________ on such prize money.
1.10%
2.30%
3.20%
4.0%
Posted Date:-2024-02-03 04:25:44
On April 1, 2022, Mr. Amit made a fixed deposit of Rs. 1,00,000 with ABC Bank, which carries interest rate of 8% p.a. What would be the TDS deducted by bank on such interest payment?
1. Rs. 800
2. Rs. 400
3. Rs. 1,600
4.Nil
Posted Date:-2024-02-03 04:16:22
Sunder India Ltd. has to make payment of Rs. 50,000 per month to Mr. Jetha for operation and maintenance of factory premises. At what rate, TDS would be deducted under section 194C ?
1.2%
2. 1%
3. 0%
4. 10%
Posted Date:-2024-02-03 04:30:29
TDS can be deducted u/s 194C @ of ___________
1.2%
2.1%
3.Either (A) or (B)
4.10%
Posted Date:-2024-02-03 04:33:15
Which of the following Institutions are not required to deduct tax on interest on time deposits made with them ?
1.Primary agricultural Credit Society
2.Primary Credit Society
3.Cooperative land mortgage Bank
4.All of the above
Posted Date:-2024-02-03 04:22:20
Which of the following recipients can receive, interest other than interest on securities without deduction of tax ?
1. Life Insurance Corporation of India
2.Unit Trust of India
3.Financial Corporation established under a Central Act
4.All of the above
Posted Date:-2024-02-03 04:20:52
A is a partner in a partnership firm and received and interest on loan amounting Rs. 50,000. At what rate, TDS would be deducted under Section 194A on such interest payments ?
1.5%
2.10%
3.15%
4.Nil
Posted Date:-2024-02-03 04:20:05
At what rate TDS would be deducted u/s 194A on interest payments made by bank to Indian company, assuming PAN is available, and the payment is not exempt from withholding tax ?
1. 5%
2.10%
3.15%
4.Nil
Posted Date:-2024-02-03 04:15:48
At what rate TDS would be deducted u/s 194A on interest payments made by bank to Individuals, assuming PAN is available and the payment is not exempt from withholding tax ?
1. 5%
2. 10%
3.15%
4.20%
Posted Date:-2024-02-03 04:15:16
Bhavesh won prize money of Rs. 30,000 from betting in a horse race. However, the prize money would be paid in three installments of Rs. 10,000 each. Calculate the TDS on such amount under Section 194BB ?
1. Rs. 9,000
2.Rs. 3,000
3.Rs. 6,000
4.Nil
Posted Date:-2024-02-03 04:28:07
C Limited, manufactured certain toy cars for ABC Private Limited, for which the necessary material was provided by AEC Private Limited. The service charges for such work were Rs. 50,000, which was included in the gross amount of material supplied, worth Rs. 5,00,000. In such a case, the TDS deducted would be _________
1.Rs. 1,000
2.Rs. 10,000
3.Rs. 500
4.Rs. 5,000
Posted Date:-2024-02-03 04:35:27
Chalu Chit Fund paid dividend of Rs. 50,000 to one of its member. The net amount received by him after deduction of TDS u/s 194A (if any) shall be _________
1. Rs. 45,000
2.Rs. 35,000
3. Rs. 40,000
4. Rs. 50,000
Posted Date:-2024-02-03 04:23:44
Every person responsible for paying any income by way of horcse race is liable to deduct TDS @ 30% u/s 194BB if the amount of payment exceeds _______
1.Rs. 20,000
2.Rs. 50,000
3.Rs. 10,000
4.Rs. 1,00,000
Posted Date:-2024-02-03 04:27:40
Every person responsible for paying to _________, any income by way of winning from lottery, crossword puzzle or card game and other game of any sort is liable to deduct TDS @ 30% u/s 194BB ?
1.Resident
2. Non-resident
3.Any person
4. None of the above
Posted Date:-2024-02-03 04:27:04
Farah Singh has won lottery of Rs. 1,00,000. TDS would be deducted @ ______ on such prize money.
1.10%
2.30%
3.20%
4.0%
Posted Date:-2024-02-03 04:25:04
Liability to deduct TDS u/s 194A by banks would arise at the ___________
1.Time of credit to provisioning account on daily/ monthly basis for the purpose of macro monitoring or at the time of payment of interest, whichever is earlier
2. Time of credit of interest income or at the time of payment of interest, whichever is earlier
3.Time of payment only
4.None of the above
Posted Date:-2024-02-03 04:14:48
Manish won Rs. 50,000 on betting from a horse race. He also incurred a loss of Rs. 10,000 from such betting. Calculate the amount of TDS.
1.Rs. 15,000
2.Rs. 12,000
3.Rs. 4,000
4.Nil
Posted Date:-2024-02-03 04:28:33
MNE India has declared divided to shareholders during PY 2022-23. At what rate would such dividend would attract dividend distribution tax ?
1.15%
2. 20%
3.10%
4. 5%
Posted Date:-2024-02-03 04:10:53
Mr. A is engaged in trading business and liable for tax audit for the first time during the PY 2022-23. He has made payment to Mr. C for maintenance of his residential building. At what rate, TDS would be deducted under section 194C during PY 2022-23 ?
1.2%
2.1%
3. 0%
4. 10%
Posted Date:-2024-02-03 04:29:56
Mr. C has made a recurring deposit of Rs. 10,000 per month for a period of 12 months. The first installment of recurring deposit starts from August 1, 2022. Interest of Rs. 9,000 accrue on such deposit during the PY 2022-23. What would be the TDS deducted by bank on such interest payment on recurring deposit ?
1. Rs. 900
2.Rs. 1,800
3. Rs. 450
4.Nil
Posted Date:-2024-02-03 04:17:42
Mr. K has made interest bearing fixed deposit in the name of Registrar General of Court, on directions of Court. In this case, TDS would be deducted ___________
1.At the time of payment of interest on fixed deposit
2.At the time of payment or credit of interest, whichever is earlier
3.When matter is decided by Court
4.None of the above
Posted Date:-2024-02-03 04:20:29
Mr. Kamlesh is awarded compensation by Motor Accident Claims Tribunal. He is also getting interest of Rs. 20,000 on such compensation. What would be the TDS amount on such interest payment?
1.Rs. 200
2.Rs. 400
3.Rs. 100
4.Nil
Posted Date:-2024-02-03 04:19:37
Mr. Remo, a 62-year old person, has made a fixed deposit of Rs. 3,60,000 on May 1, 2022 for 9 months period. It carries interest @ 10% p.a. What would be the TDS amount to be deducted by bank on such interest payment on such fixed deposit?
1. Rs. 2,700
2.Rs. 3,600
3.Rs. 5,400
4.Nil
Posted Date:-2024-02-03 04:18:09
Mr. Sondesh has received dividend on shares issued by foreign company during the PY 2022-23, in which he owned 20% equity shares. Such dividend would be ____________
1. Taxable at 10%
2.Exempt from tax in the hands of Mr. Sondesh
3. Taxable at slab rate applicable to such Individual
4. Taxable at 20%
Posted Date:-2024-02-03 04:10:20
Mr. Sunil has won lottery of Rs. 5,000. TDS would be deducted @ _____ on such prize money.
1. 10%
2.30%
3. 20%
4.0%
Posted Date:-2024-02-03 04:24:33
On April 1, 2022, GCC India Ltd. took a loan from Indian Bank of Rs. 50 lakhs and it has to make payment of first EMI of loan, which includes interest of Rs. 5 lakhs. What would be the TDS amount to be deducted by GCC India on such interest payment ?
1.Rs. 50,000
2.Rs. 25,000
3.Rs. 1,00,000
4.Nil
Posted Date:-2024-02-03 04:19:07
On April 1, 2022, Mr. Gill has made a fixed deposit of Rs. 50,000 each with three branches of HDFC Bank (which is a Core Branch Banking Solution Bank), located at Uttam Nagar, Dwarka and Rajouri Garden. Such fixed deposit are for a period of 12 months during the same financial year. It carries interest @ 10% p.a. What would be the TDS amount to be deducted by bank on interest payment on such fixed deposit ?
1.Rs. 1,500
2. Rs. 500
3.Rs. 3,000
4.Nil
Posted Date:-2024-02-03 04:23:15
On April 1, 2022, Mr. Phil has made a fixed deposit of Rs. 50,000 each with three branches of HFC Bank (which is not Core Banking Solution Bank), located at Uttam Nagar, Dwarka and Rajouri Garden. Such fixed deposit are for a period of 12 months. It carries interest @ 10% p.a. What would be the TDS amount to be deducted by bank on interest payment on such fixed deposit ?
1.Rs. 1,500
2. Rs. 500
3. Rs. 3,000
4.Nil
Posted Date:-2024-02-03 04:18:40
On July 1, 2022, Mr. Bharat has made a fixed deposit of Rs. 2,40,000 with PQR Bank, which carries interest rate of 10% p.a. What would be the TDS amount to be deducted by bank on such interest payment ?
1.Rs. 1,800
2. Rs. 3,600
3. Rs. 900
4.Nil
Posted Date:-2024-02-03 04:17:14
On July 1, 2022, Mr. Lalit has made a fixed deposit of Rs. 1,20,000 with ABC Bank, which carries interest rate of 8% p.a. What would be the TDS amount to be deducted by bank on such interest payment?
1. Rs. 960
2.Rs. 720
3. Rs. 1,920
4.Nil
Posted Date:-2024-02-03 04:16:49
Saarthak is a 10-year old and has won prize money of Rs. 5 lakhs in a dance realty show. TDS would be deducted @ _____ on such prize money.
1.10%
2. 30%
3. 20%
4.0%
Posted Date:-2024-02-03 04:26:09
Section 194C provides for deduction of tax at source on the payments made to ____________ contractors/ sub-contractors?
1.Resident
2.Non-resident
3.Both resident and non-resident
4.None of the above
Posted Date:-2024-02-03 04:28:59
Sunita has a savings account with ICICI bank on which she earned an interest of Rs. 15,000 during the year. Such interest would be liable for deduction of tax amounting to _________
1.Rs. 1,500
2. Rs. 750
3.Rs. 1,000
4.Nil
Posted Date:-2024-02-03 04:21:14
Sunita is a member of Ganpati Cooperative Bank, and she has time deposit with the society on which she earned an interest of Rs. 15,000 during the year. Such interest would be liable for deduction of tax amounting _________
1.Rs. 1,500
2.Rs. 750
3. Rs. 1,000
4.Nil
Posted Date:-2024-02-03 04:21:47
Sunlight India has given loan to Mr. Ballodia, during the PY 202218-2319, who is holding 15% shares in such company. Such loan would be deemed as dividend in the hands of Mr. Ballodia. Select the correct statement from the following :
1.Such dividend would be taxable in the hands of Mr. Ballodia at maximum marginal rate
2.Sunlight India would charge dividend distribution tax @ 30% on payment of dividend to Mr. Ballodia
3. BC India would charge dividend distribution tax @ 15%
4.Such dividend would be taxable in the hands of Mr. Ballodia at 10%
Posted Date:-2024-02-03 04:13:42
SV India ltd. has made following payments to Suresh for contract work during the PY 2022-23: i. Rs. 28,000 on May 1, 2022 ii. Rs. 26,000 on July 1, 2022 iii. Rs. 26,000 on September 1, 2022 SV India has to now make further payment of Rs. 25,000 to Suresh on March 1, 2023. Select the correct statement from the following :
1. There would be no TDS liability none of the individual payments exceed Rs. 30,000
2.There would be TDS liability on the last payment amounting to Rs. 500
3.There would be TDS liability on entire amount of Rs. 1,05,000, which comes out to Rs. 2,100
4.There would be TDS liability on entire amount of Rs. 1,05,000, which comes out to Rs. 1,050
Posted Date:-2024-02-03 04:32:03
SV India Ltd. has to make payment of Rs. 20,000 per month to Suresh for maintenance of office building during whole PY 2022-23. At what rate, TDS would be deducted under section 194C ?
1. 2%
2.1%
3.0%
4. 10%
Posted Date:-2024-02-03 04:31:31
Which of the following payments, made to a bank, listed in Second Schedule of The Reserve Bank of India Act, shall not be liable for deduction of TDS ?
1.Bank guarantee Commission
2.Underwriting service charges
3.Depository charges for DEMAT accounts
4.All of the above
Posted Date:-2024-02-03 04:24:08
Which of the following persons are not liable to deduct TDS on interest payments u/s 194A?
1.Individuals
2.HUFs
3.Individual / HUF who are covered under tax audit
4.None of the above
Posted Date:-2024-02-03 04:14:14
Which of the following prize money would be liable to TDS @ 30% u/s 194BB ?
1.Prize money on winning from crossword puzzle
2.Prize money on winning from horse race
3. Prize money on winning from Tambola game
4.All of the above
Posted Date:-2024-02-03 04:26:41
Which of the following would be included in the definition of works contract for purpose of Section 194C ?
1. XY India has made contract with YO India for manufacturing a product according to specification of customer. XY India will provide material for manufacturing of such product
2. XY India has made contract with YO India for manufacturing a product according to specification of customer. XY India will not provide material for manufacturing of such product and YO India will pur
3.Both (A) and (B)
4. None of the above
Posted Date:-2024-02-03 04:32:44
Who would be liable to deduct tax at source on payments made to resident contractor u/s 194C ?
1. Individual
2.HUF
3.Individual or HUF liable to tax audit in immediately preceding FY
4.None of the above
Posted Date:-2024-02-03 04:29:24