GkSeries.com

Commerce Short Question | Gkseries

Q.

Which of the following statements is not correct ?

[A] X is an individual assessee. He pays a monthly rent of ` 10,000 pm. He cannot deduct tax at source.
[B] On salaries, tax is deducted at source according to provisions of Sec. 192.
[C] No tax is deducted at source in respect of interest on securities issued by a domestic company.
[D] Bank will deduct tax at source @ 10% if bank fixed deposit’s interest credit is more than ` 10,000 in a year
Answer & Explanation

Answer: No tax is deducted at source in respect of interest on securities issued by a domestic company.

DOWNLOAD CURRENT AFFAIRS PDF FROM APP

Please share this page

Click Here to Read more questions

Teacher Eligibility Test