As per section 192A, where amount is payable to the employees from the Employee Provident fund, 1952 and such payable amount or aggregate amount which has become due is more than by , then the tax will be deducted at sou

CS Executive · Tax Laws and Practice · PYQS · June 2021
As per section 192A, where amount is payable to the employees from the Employee Provident fund, 1952 and such payable amount or aggregate amount which has become due is more than by , then the tax will be deducted at source at the rate __________ on amount paid. (Assuming TDS deduction for the period June, 2020 to March, 2021).
(A) ₹50,000; 10%
(B) ₹50,000; 7.5%
(C) ₹1,00,000; 10%
(D) ₹1,00,000; 7.5%

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A), (B). Official source note: Option A is correct without considering the lower rate due to pandemic. Option B is correct considering the lower rate announced due to pandemic.

Topics: Income Tax Act, 1961

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