
Dear Professional Seniors & Friends,
Warm Greetings!
Here is the Next post of #MCQ on concept based practical professional knowledge on TDS u/s 194J of Income Tax Act in a unique manner to be self answered by participants. The detailed answer of these MCQs shall be posted next day for the self assessment of the participants.
MCQ 56.1: ABC Pvt. Ltd. has paid fee to XYZ firm for technical services and professional services, Rs. 40,000 and Rs 25,000 respectively. Which of the following statement is correct?
A) ABC is required to deduct TDS on Rs. 65,000 and paid net amount.
B) ABC is required to deduct TDS only on Rs. 40,000.
C) ABC is not required to deduct any TDS.
D) None of the above.
MCQ 56.2: Mr. A has paid fees for professional services to a lawyer for settling his personal family case and pay Rs. 25,000 in advance and Rs. 40,000 after settlement of case. Which of the following statement is correct?
A) A is required to deduct TDS on Rs. 65,000 and paid net amount.
B) A is required to deduct TDS only on Rs. 40,000.
C) A is not required to deduct any TDS.
D) A is required to deduct TDS at the time of payment of Rs 25,000 and of 40,000 respectively.
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CA Sanjay Kumar Agrawal
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Dear Professional Seniors & Friends,
Good Morning!
This post of MCQ is on provisions relating to TDS u/s 194J of Income Tax Act.
Answer to MCQ 56.1: B) ABC is required to deduct TDS only on Rs. 40,000.
Answer to MCQ 56.2: C) A is not required to deduct any TDS.
Practical Analysis for MCQ 56.1 & 56.2 :-
Rs. 30,000 for other sums
Based on the above analysis, correct answer MCQ 1 is B) ABC is only required to deduct TDS on Rs 40,000 as limit of Rs. 30,000 is separately for professional service or for technical services and Correct answer of MCQ 2 is C) Mr. A is not required to deduct any TDS as fees paid to lawyer is of personal nature.
(Disclaimer: The objective of the MCQ post is just to discuss the concept, it may happen, by change of facts, the answer may be different. Please do not treat this as professional opinion; you can definitely have your own opinion.)
Sincere Regards!
CA Sanjay Kumar Agrawal
Mobile: 9810116321
To access MCQ posts regularly, please Join Telegram Channel:
https://t.me/caSanjayKumarAgrawal
For All MCQ post please click on:
Webpage: http://www.casanjay.me/
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