Tax Book 2023

Final Tax Regime and Minimum Tax Chapter- 22

Q.8 Tax deducted on brokerage or commission received by an agent is treated __ of the agent
for such income.
(a) normal tax liability
(b) minimum tax liability
(c) last tax liability
(d) all of above

Q.9 Where the taxpayer is an owner of goods transport vehicles, the tax deducted at source excluding
motor vehicle tax shall be treated as _____.
(a) final tax
(b) last tax
(c) minimum tax
(d) None of the above

Q.10 A person who pays profit on debt, on account or deposit maintained by a banking company or
financial institution shall deduct tax at source at rate of
(a) 10%
(b) 15%
(c) 5%
(d) None of above

Q.11 Tax rate applicable to the contract with a T.V channel for advertisement services is

(a) 2%

(b) 6%

(c) 3%

(d) 1 .5% on the gross amount payable

Q.12 Tax deduction on payment to a resident person on account of sale of edible oil is at

(a) 1.5%

(b) 3.5%

(c) 6%

(d) None of the above

Q.13 Goods supplied to an exporter under an inland back-to-back letter of credit is taxable at the rate of

(a) 2%

(b) 5%

(c) 1%

(d) None of the above

Q.14 Tax deducted on imported plant & machinery for own use shall be treated under _____.

(a) NTR

(b) FTR

(c) Minimum tax

(d) Both ‘b’and ‘c’

Q.15 Prizes and winnings are covered under

(a) NTR

(b) FTR as SBI