Laxmi & Co. paid ₹6,10,000 as contract payments to Monu Ltd. during the financial year 2014-15. It did not deduct tax at source under section 194C. The amount liable for disallowance is

CS Executive · Tax Laws and Practice · PYQS · December 2015
Laxmi & Co. paid ₹6,10,000 as contract payments to Monu Ltd. during the financial year 2014-15. It did not deduct tax at source under section 194C. The amount liable for disallowance is
(A) ₹6,10,000
(B) ₹3,05,000
(C) ₹12,200
(D) ₹1,83,000.

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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