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WorksheetsTCS Quiz
Total questions: 15
Worksheet time: 14mins
1.National Traders sells 100 laptops to Alfa Traders despite probing multiple times, Alfa Traders has not provided their PAN to National Traders. What is the rate of TCS that National Traders should charge on this sale to Alfa Traders.
1%
0.1%
2%
0.2%
TCS needs to be charged by Chaya Enterprises, Bengaluru, When the company turnover has exceeded by _______ crores in the previous financial year.
25 Crores
10 Crores
15 Crores
50 Crores
3.Chaya enterprises, benguluru has collected tax collected at source (TCS) from customers Manoj distributors, Bengaluru. Which certificate has to be issued by Chaya enterprises to Manoj distributors for collecting TCS and remitting it to department.
27D
27C
27A
27B
4.National Traders, Mumbai needs to file Tax Collected at Source (TCS) quarterly return in the form
Form 26EQ
Form 24Q
Form 27A
Form 27EQ
5.TallyPrime customers can experience e-Invoicing in Release 1.1.4 by uploading invoice to __________ for testing purposes only.
Invoicing Furnishing Facility (IFF)
Sand Box
GST Portal
Tool Box
6.Chaya Enterprises, Bengaluru is eligible to charge Tax Collect at Source (TCS) as per law. Company has to collect Tax Collected at Source (TCS) on _____________ basis.
Accrual Basis
Reliazation Basis
Yearly Basis
Quarterly Basis
7.Shiva Sai Enterprises, Bengaluru is not liable to collect Tax Collected at Source (TCS) when goods are sold to ________________.
Central Governement & State Government
Private Limited Compnay
Partnership Firm
Public Limited Company
8.Tax Collected at Source (TCS) amount collected by Shiva Sai Enterprises, Bengaluru for the current month is payable to Department on or before ___________ day of next month.
15th
20th
2nd
7th
9.National Traders, Mumbai must collect TCS when selling thrisold limit exceed 50 Lakhs________
Raj Enterprises Andhra Pradesh
Wall Mart USA
Andhra Pradesh State Governement
Vijayawada Municiapal Corporation
10.Deepak Traders, delhi has to collect tax collected at source (TCS) from 1st oct 2020 on sales of any goods once the threshold of 50 lakh is crossed by its customers. What is the percentage of tax collected at source (TCS) to be charged.
With PAN : 0.01%, Without PAN : 0.1%
Rate : with PAN : 1.0%, without PAN : 10.0%
From 1st oct 2020 to March 2021 : with PAN – 0.075%, without PAN – 0.75%, 1st April 2021 onwards : with PAN : 0.1% and without PAN : 1%
Rate : with PAN 0.2%, without PAN : 2%
11.National traders, Mumbai sells 100 HP laptops to Karan traders, Mumbai where turnover of National traders has exceeded 10 crores in previous financial year and Karan traders has just crossed 50 lakhs turnover in the current financial year. In this transaction, who is liable to collect Tax collected as source (TCS) and remit it to Income tax department?
National traders
Karan Traders
HP
BMC
12.What is the threshold amount from which collection of Tax collected at source (TCS) starts on Sale of any goods under section 206C of the income tax act.
75 Lakhs
50 Lakhs
10 Lakhs
60 Lakhs
13. In TCS View Collector Means______?
Buyer
Seller
Both
Creditor
14 TCS Return Form 27EQ files____________by the Seller
Monthly
Half Yearly
Quarterly
Yearly
15.Which of the following Challan used to Pay TCS to Income Tax Department?
ITNS 280
ITNS 281
ITNS 200
ITNS 300
