The 'Health and Education Cess' is levied at: MCQ with Answer and Explanation

Question
The 'Health and Education Cess' is levied at:
A. 1%
B. 4% of tax
C. 10%
D. 2% of tax
Answer: Option B
Solution (By JKSSB Mock Tests)
Health and Education Cess at 4% is levied on income tax (including surcharge).
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
Which of the following items is shown in the Profit and Loss Appropriation Account of a partnership firm?
A. Rent paid to partner's building
B. Office electricity expenses
C. Salary to partners
D. Discount allowed to debtors
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Salary to partners is an appropriation of profit, hence shown in P&L Appropriation A/c, not in P&L A/c.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
Standard Deduction available to salaried employees under Section 16(ia) for FY 2023-24 is:
A. Rs 1,00,000
B. Rs 40,000
C. Rs 1,50,000
D. Rs 50,000
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
A flat standard deduction of Rs 50,000 is allowed from the gross salary income.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Stratified Sampling' in audit:
A. Ignores low-value items
B. Selects items randomly
C. Divides the population into homogeneous subgroups and selects samples from each
D. Selects all high-value items
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Stratification improves audit efficiency by grouping items with similar characteristics.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Explore All Accountancy and Book Keeping MCQs
Today's Top Topics
Accountancy and Book Keeping 1861 Statistics 1318
Explore Subjects
Accountancy and Statistics 3179 Economy GK 2220 English 15164 Computer 5279 Current Affairs 575
Practice Mix
Which of the following is an indirect tax in India?
The valve between the left atrium and left ventricle is the:
A person faces north. He turns 45° left, then 90° right, then 45° left. Which direction is he facing?
Under the Income Tax Act, the 'TDS' on the sale of an immovable property (other than agricultural land) by a resident is governed by which section, and what is the rate?
In 'Piecemeal Distribution' during dissolution, the first priority for payment of outside liabilities is: