Which of the following statements about TDS (Tax Deducted at Source) is correct? MCQ with Answer and Explanation

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Which of the following statements about TDS (Tax Deducted at Source) is correct?

A. TDS is collected only by the central government

B. TDS applies only to salaried individuals

C. TDS ensures advance tax collection and reduces tax evasion

D. TDS is not applicable to interest income

Answer: Option C

Solution (By JKExamLibrary)

TDS ensures advance tax collection and reduces tax evasion. It applies to multiple income sources (salary, interest, rent, etc.), not just salaries.

This question belongs to: Current Affairs Current Affairs 2026 Section 1

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'Nivesh Mitra 3.0' was launched in which state?

A. Madhya Pradesh

B. Rajasthan

C. Bihar

D. Uttar Pradesh

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Correct Answer: Option D

Explanation:
'Nivesh Mitra 3.0' was launched in Uttar Pradesh.[reference:25]

This question belongs to: Current Affairs Current Affairs 2026 Section 1

Question #2 Report Error

UPI is expected to become operational by end of 2026 in which country?

A. UAE

B. Mauritius

C. Singapore

D. Several countries (expansion)

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Correct Answer: Option D

Explanation:
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This question belongs to: Current Affairs Current Affairs 2026 Section 1

Question #3 Report Error

PM Modi chaired the 52nd meeting of PRAGATI on June 24, 2026. What does PRAGATI stand for?

A. Planning and Resource Allocation for Growth and Technology Integration

B. Pro-Active Governance and Timely Implementation

C. Policy Review and Administrative Tracking Initiative

D. Public Grievance Redressal and Transparency Initiative

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PRAGATI stands for Pro-Active Governance and Timely Implementation.[reference:35]

This question belongs to: Current Affairs Current Affairs 2026 Section 1

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