WorksheetsTDS Quiz
Total questions: 24
Worksheet time: 12mins
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%
When is a deductee not eligible to claim credit of TDS deducted by the payer?
a) If the payer deducts TDS but does not deposit it in the prescribed manner
b) If the payer deducts TDS as well as pays in the manner prescribed
c) If the payer fails to provide TDS certificate to the deductee
d) If the payer is a government entity
Under which section of the Income-tax Act, TDS is not required to be deducted on payment of interest to a resident individual?
a) Section 194A
b) Section 194B
c) Section 194C
d) Section 194I
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%
Under which section of the Income-tax Act, TDS is not required to be deducted on payment of interest to a resident individual?
a) Section 194A
b) Section 194B
c) Section 194C
d) Section 194I
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
What is the penalty for not filing Quarterly statement for TDS Deducted due to the death of a son?
a) Penalty
b) Fees
c) Both
When a notified infrastructure debt fund pays interest to a company incorporated in the USA, what is the applicable TDS rate under section 194LB?
a) 5%
b) 10%
c) 15%
d) 20%
What is the approximate TDS amount deductible by the Employer while making a payment of Rs. 1,00,000 to an employee with other income, house property loss, and investments?
a) ` 18,700/-
b) 10% u/s 192
c) ` 2.32 Lakh
d) ` 1.87 Lakh
What is the penalty for not filing Quarterly statement for TDS Deducted due to the death of a daughter?
a) Penalty
b) Fees
c) Both
When is a deductee not eligible to claim credit of TDS deducted by the payer?
a) If the payer deducts TDS but does not deposit it in the prescribed manner
b) If the payer deducts TDS as well as pays in the manner prescribed
c) If the payer fails to provide TDS certificate to the deductee
d) If the payer is a government entity
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%
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%
Under which section of the Income-tax Act, TDS is not required to be deducted on payment of interest to a resident individual?
a) Section 194A
b) Section 194B
c) Section 194C
d) Section 194I
What is the penalty for not filing Quarterly statement for TDS Deducted due to the death of a son?
a) Penalty
b) Fees
c) Both
