Tax Deducted At Source

Question 0

Section 191

Answer 0

Direct payment

Question 1

Section 190

Answer 1

Deduction of tax at source and advance payment

Question 2

Section 192

Answer 2

TDS on salaries

Question 3

Section 193

Answer 3

TDS on interest on securities

Question 4

Section 194

Answer 4

TDS on Dividend

Question 5

Section 194A

Answer 5

Interest other than interest on securities

Question 6

Section 194B&194BB

Answer 6

Winning from lottery , cross word puzzle , horse race

30%TDS

1. lottery more than 10000 section 194B
2. horse race more than 5000 section 194BB

Jackpot lies in section 194BB

Instalment payment ….

Question 7

Section 194C

Answer 7

TDS ON Payment made to contractor and sub contractor

1% if the payment is made to not a body corporate or firm (resident contractor)
2% if the payment is made to body corporate or firm(resident contractor)

No TDS if the payment is made to contractor for lying , truck contract(if pan provided)
No TDS if the contract is for personal purpose

Question 8

Section 194D

Answer 8

TDS on insurance commission

If amount exceeds 20,000 in a financial year
10%

Question 9

Section 10(10D)

Answer 9

Annual premium is less than 10% of sum assured
The maturity proceeds are exempt from tax wef-1.4.2012

Before 20%

Question 10

Section 194DA

Answer 10

Payment in respect of life insurance policy

Amount received should not be exempted u/s-10(10D)

And aggregate payment to the assesse is more than 1,00,000

2%

Question 11

Section 201(1A)

Answer 11

Failure to TDS or delay in remittence attract interest

1% pm 1.5% pm