Q. Challan No……………. is used by all categories of tax payers for payment of income tax.
✅ Correct Answer: (A)
Challan no.280
Audit Taxation MCQs and Notes
Q. ITR -5 is related to :
✅ Correct Answer: (C)
For Firms, AOPs And BOIs.
Q. Taxpayers opting for presumptive taxation scheme of Section 44AD are required to pay up to of advance tax by 15th June?
✅ Correct Answer: (A)
15%
Q. State Government pays commission of Rs.20, 000/- to one of its agent on sale of Lottery Tickets.
✅ Correct Answer: (B)
TDS is required to be made @ 5% if commission to a single person in a F.Y. exceeds 15,000/-
Q. 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
✅ Correct Answer: (C)
2% u/s 194I
Q. 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:
✅ Correct Answer: (B)
Fees
Q. 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 assesses in default. Which of the following was wrongly complied by Mr.Y because of which Mr. X was treated as assesses in default?
✅ Correct Answer: (D)
Furnished a Certificate to this effect from C.A. in Form 27BA.
Q. Deduction under section 80C to 80U cannot exceed:
✅ Correct Answer: (A)
Gross Total Income
Q. Income chargeable under the head ‘Profits and Gains from Business or Profession’ is covered under _______________.
✅ Correct Answer: (C)
Section 28