Mr. Rajan (a trader in furniture items) acquired a motor car for ₹ 11 lakhs by availing loan from a nationalized bank. The amount was paid by demand draft. The amount of tax collectible at source by the car dealer who so
CS Executive · Tax Laws and Practice · PYQS · December 2017
Mr. Rajan (a trader in furniture items) acquired a motor car for ₹ 11 lakhs by availing loan from a nationalized bank. The amount was paid by demand draft. The amount of tax collectible at source by the car dealer who sold the car is:
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax
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