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TDS on National Savings Scheme and Repurchase of Units
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TDS on National Savings Scheme and Repurchase of Units

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Questions and Answers

What happens if the payee does not furnish his PAN to the payer?

  • The TDS rate shall be the rate as per the respective section
  • No TDS is required to be deducted
  • The TDS rate shall be reduced by 5%
  • The TDS rate shall be 20% or the rate as per the respective section, whichever is higher (correct)

    • In which section is the TDS rate specified if the payee does not furnish his PAN to the payer?

  • Sec 195
  • Sec 192
  • Sec 194
  • Sec 206AA (correct)

    • What is the TDS rate on interest on securities?

  • The rate as per the respective section (correct)
  • 20%
  • 10%
  • 5%

    • Who is responsible for deducting TDS on salary?

    <p>The employer</p> Signup and view all the answers

    What is the consequence of not deducting TDS on winnings from lottery?

    <p>Penalty of 100% of the amount</p> Signup and view all the answers

    What is the TDS rate on insurance commission?

    <p>The rate as per the respective section</p> Signup and view all the answers

    Who is required to deduct TDS on rent?

    <p>Certain individuals</p> Signup and view all the answers

    What is the consequence of not furnishing PAN to the payer?

    <p>Higher TDS rate</p> Signup and view all the answers

    What is the TDS rate on payments to non-residents?

    <p>The rate as per the respective section</p> Signup and view all the answers

    What is the consequence of not deducting TDS on professional fees?

    <p>Penalty of 100% of the amount</p> Signup and view all the answers

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