Deduction / Payment of Tax Chapter- 23
MULTIPLE CHOICE QUESTIONS
Q.1. The person who is liable to deduct or collect tax at source is required to deposit the same generally
within the ___after each fortnight.
(a) 10 days
(b) 7 days
(c) 15 days
(d) 30 days
Q.2. Persons liable to deduct tax at source are also required to file ___statements.
(a) Monthly and quarterly
(b) semi-annually and annually
(c) quarterly and annually
(d) None of the aboveQ.3. The person in default of deduction of tax at source shall be liable to pay default surcharge on such
amount per annum for the period of its non-payment at the rate of_____.
(a) 10%
(b) 15%
(c) 20%
(d) 12 %
Q.4. While computing the taxable income of a person such expenses where the payment of the same has
been made without deduction of tax at source ___.
(a) Be allowed as admissible expenses
(b) Not be allowed as admissible expense
(c) Added to the loss of such person
(d) Both ‘b’ and ‘c’
Q.5. Advance tax on capital gain on securities u/s 147(5) for individual investor where holding period of
securities is less than six months is __of capital gains derived during the quarter.
(a) 2%
(b) 10%
(c) 1.5%
(d) none of the above
Q.6. Where holding period of securities u/s 37A is more than 6 months but up to 12 months, advance tax
by an AOP on capital gain in the said quarter shall be chargeable at the rate of _____.
(a) 2%
(b) 1 .5%
(c) 2.5%
(d) 5%
Q.7. While computing the amount of advance tax the tax in respect of following heads shall not be
considered_____:
(a) Capital gain
(b) Income covered under FTR --
(c) Income under NTR