The 'Form 26QB' is related to: MCQ with Answer and Explanation

Question

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The 'Form 26QB' is related to:

A. TDS on salary

B. TDS on rent

C. TDS on purchase of immovable property (Section 194-IA)

D. Advance tax

Answer: Option C

Solution (By JKSSB Mock Tests)

Form 26QB is the challan-cum-statement for TDS on property purchase.

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

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Question #1

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The 'Job Work' under GST means:

A. Consultancy

B. Employment

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

D. Service contract

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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

Question #2

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The 'E-way Bill' is generated through the portal:

A. Income Tax portal

B. MCA portal

C. Customs portal

D. GSTN portal (ewaybillgst.gov.in)

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Correct Answer: Option D

Explanation:
E-way bill is generated on the dedicated portal ewaybillgst.gov.in.

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

Question #3

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Which formula correctly represents 'Cost of Production'?

A. Factory Cost + Administrative Overheads

B. Cost of Production + Selling Overheads

C. Prime Cost + Factory Overheads

D. Prime Cost + Selling Overheads

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Correct Answer: Option A

Explanation:
In a cost sheet, Factory Cost added to Office and Administrative Overheads yields the Cost of Production.

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

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