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Question #1
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The 'Minimum Alternate Tax' (MAT) rate for companies is:
Correct Answer: Option C
Explanation:
MAT is 15% of book profits (plus surcharge and cess).
MAT is 15% of book profits (plus surcharge and cess).
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is NOT a subsidiary book?
Correct Answer: Option C
Explanation:
Trial balance is a statement, not a book of original entry. Subsidiary books include cash book, purchase book, sales book, journal proper, etc.
Trial balance is a statement, not a book of original entry. Subsidiary books include cash book, purchase book, sales book, journal proper, etc.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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TDS on rent under Section 194I is deducted at:
Correct Answer: Option B
Explanation:
Section 194I: rent for plant/machinery 2%, for land/building/furniture 10%.
Section 194I: rent for plant/machinery 2%, for land/building/furniture 10%.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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