The 'Securities Transaction Tax' (STT) is levied on: MCQ with Answer and Explanation

Question
The 'Securities Transaction Tax' (STT) is levied on:
A. Property transactions
B. Purchase and sale of shares and derivatives on recognized stock exchanges
C. Bank deposits
D. Commodity transactions
Answer: Option B
Solution (By JKSSB Mock Tests)
STT is a direct tax on transactions in securities listed on recognized stock exchanges.
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
A firm's current ratio is 1.5:1. It wants to maintain a current ratio of 2:1 by paying off some current liabilities. Which of the following will happen?
A. Working capital will remain unchanged
B. Current assets will decrease
C. Working capital will increase
D. Working capital will decrease
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Paying current liabilities reduces both current assets (cash) and current liabilities equally, leaving working capital (CA - CL) unchanged, though ratio improves.
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #2
The 'Ind AS 115' replaces which earlier standards?
A. AS 2
B. AS 10
C. AS 3
D. AS 9 and AS 7
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Ind AS 115 supersedes AS 9 (Revenue Recognition) and AS 7 (Construction Contracts).
This question belongs to: Accountancy and Statistics Accountancy and Book Keeping
Question #3
The 'Physical Verification' of inventory is a part of:
A. Compliance procedure
B. None
C. Substantive procedure
D. Internal control evaluation
Discuss
Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Physical verification is a substantive audit procedure to verify existence of inventory.
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
Geography GK 6121 Current Affairs 575 History GK 3374 Accountancy and Statistics 3179 Maths 5575
Practice Mix
Select the most appropriate meaning of the idiom: 'Make a mountain out of a molehill'.
What does the 'GUI' acronym stand for in computer interface terminology?
A trader marks his goods 80% above cost price and gives a discount of 40%. Find his gain percent.
Which type of memory is used to store the firmware that boots the computer?
The average of 8 numbers is 30. If one number is 40, find the average of the remaining 7.