The 'Tax Deduction and Collection Account Number' (TAN) is required for: MCQ with Answer and Explanation
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Question #1
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The threshold limit for paying Advance Tax is when the estimated tax liability for the year is:
Correct Answer: Option A
Explanation:
If the estimated tax liability (after TDS) exceeds Rs 10,000, the taxpayer is obligated to pay advance tax in installments.
If the estimated tax liability (after TDS) exceeds Rs 10,000, the taxpayer is obligated to pay advance tax in installments.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #2
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Which of the following is a recent development in accounting?
Correct Answer: Option D
Explanation:
Blockchain is an emerging technology enabling triple-entry accounting, enhancing transparency and security.
Blockchain is an emerging technology enabling triple-entry accounting, enhancing transparency and security.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
Question #3
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A costing technique where only variable costs are charged to products, and fixed costs are written off to the P&L account in the period incurred, is:
Correct Answer: Option D
Explanation:
Marginal costing strictly separates fixed and variable costs, treating fixed costs as period costs rather than product costs.
Marginal costing strictly separates fixed and variable costs, treating fixed costs as period costs rather than product costs.
This question belongs to:
Accountancy and Statistics
Accountancy and Book Keeping
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