Tax deduction at source (TDS) is a mechanism under: MCQ with Answer and Explanation

Question

Share Report Error

Tax deduction at source (TDS) is a mechanism under:

A. Direct tax

B. Local body tax

C. Indirect tax

D. Both direct and indirect tax

Answer: Option A

Solution (By JKSSB Mock Tests)

TDS is part of the Income Tax Act, a direct tax, requiring the payer to deduct tax at source on certain payments.

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 'Angel Tax' exemption for startups was enhanced to include investments up to:

A. ₹25 crore

B. ₹5 crore

C. ₹50 crore

D. ₹10 crore

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Eligible startups can receive angel investments up to ₹25 crore without angel tax.

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

Question #2

In the absence of any agreement, partners share profits:

A. In capital ratio

B. Based on experience

C. Based on age

D. Equally

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Indian Partnership Act mandates equal sharing.

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

Question #3

The 'Job Work' under GST means:

A. Consultancy

B. Service contract

C. Processing or treatment on goods belonging to another registered person

D. Employment

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Job work involves undertaking a process on goods owned by another person.

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

Explore All Accountancy and Book Keeping MCQs