If a person fails to link PAN with Aadhaar, the PAN becomes: MCQ with Answer and Explanation

Question

Share Report Error

If a person fails to link PAN with Aadhaar, the PAN becomes:

A. Suspended

B. Cancelled permanently

C. Invalid

D. Inoperative

Answer: Option D

Solution (By JKSSB Mock Tests)

Under Income Tax rules, an unlinked PAN becomes 'inoperative', preventing the filing of ITRs and inviting higher TDS.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1

The 'Tax Information Network' (TIN) in India is managed by:

A. GSTN

B. CBDT

C. NSDL

D. RBI

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
TIN was established by NSDL for collection, processing, and monitoring of TDS.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

The 'GST Compensation Cess' on motor vehicles for personal use is:

A. Fixed 28%

B. 10%

C. Varies from 1% to 22% depending on engine capacity and type

D. Nil

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Compensation cess on automobiles ranges from 1% to 22% over and above the 28% GST.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

A manager is entitled to a commission of 10% on net profit AFTER charging such commission. If the profit before commission is Rs 1,10,000, the commission amount is:

A. Rs 10,000

B. Rs 12,100

C. Rs 9,000

D. Rs 11,000

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Formula: Profit * (Rate / (100 + Rate)). 1,10,000 * (10 / 110) = Rs 10,000.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Explore All Accountancy and Book Keeping MCQs