TDS Quiz

ABC & Co is a Power generation company. It paid SLDC, transmission & wheeling charges. On which of the above payments TDS u/s 194J should be deducted by ABC and Co.?

• a)All of the above

• b)On Transmission and Wheeling charges but not on SLDC charges.

• c)On SLDC and Transmission but not on wheeling charges.

• d)On SLDC and Wheeling charges but not on Transmission charges.

• e)None of the above as per the judgment of Ajmer Vidyut Vitran Nigam Ltd. (2013) (AAR)

Mr. X made payment to Mr. Y on which Mr. X failed to deduct the TDS. Mr. Y (Resident) fulfilled the following requirements so that Mr. X should not be deemed to be an assessee in default. Which of the following was wrongly complied by Mr.Y because of which Mr. X was treated as assessee in default?

• a)Furnished his return u/s 139.

• b)Offered the income in return on which TDS should have been done by Mr. X.

• c)Paid the Tax Due on the income declared by him in such return of Income.

• d)Furnished a Certificate to this effect from C.A. in Form 27BA.

• e)None of the Above.

Deduction of Tax at source under Section 194 I is @

• a)10%

• b)12%

• c)15%

• d)5%

Because of Death of his Son Mr. Salman could not file Quarterly statement for TDS Deducted. As there is a reasonable cause for such failure which of the following will not be levied:

• a)Penalty

• b)Fees

• c)Both

Payment made by News Duniya a television company to commission agents as commission /brokerage for canvassing / procuring advertisement is liable for :

• a)TDS u/s 194H

• b)TDS u/s 194C

• c)TDS u/s 192

• d)Such payment is not liable for TDS.

Mr.Marshal owned network of telecom towers and infrastructure services. He let out these to major telecom operators of the country. He applied u/s. 197 for obtaining a certificate of lower deduction of tax. As per the Judgment of Indus Towers Ltd. Vs CIT (2014)(Del.) at what rate Tax shall be deducted

• a)1% u/s 194C

• b)10% u/s 194I

• c)2% u/s 194I

• d)0.5% u/s 194C

As per the Decision of Omprakash Gattani (2000)(Gau). Credit of TDS will be allowed to the deductee if:

• a)Payer Deducts TDS as well as pay in the manner prescribed

• b)Payer Deducts TDS but does not deposits in the prescribed manner

• c)Both

• d)None of the above

Where there is a contract for service between Hospital and Doctor such that the income of the doctor varies from patient to patient, TDS shall be deductible u/s :

• a)194C

• b)194J

• c)192

• d)194H

What shall be the aprx. TDS amount Deductible by the Employer while making a payment of Rs. 1,00,000 ? Employee was in receipt of salary of ` 10 lacs. Employee gave details of estimated other income as ` 6 lacs. Employee estimated the loss from house property at ` 2 lacs. Employee gave details of estimated investment u/s. 80C at ` 0.30 lacs. Further, the estimated TDS deductible was ` 0.45 lacs.

• a)` 18,700/-

• b)10% u/s 192

• c)` 2.32 Lakh

• d)` 1.87 Lakh

What is the rate at which TDS should be deducted on payment made to a non-resident under section 195 of the Income-tax Act?

• a) 10%

• b) 15%

• c) 20%

• d) 30%