Tally ERP MCQ Questions and Answers Quiz

121. By which report we can come to know if VAT is payable or refundable.

  1. E-VAT forms
  2. VAT Computation
  3. VAT forms
  4. None of these

122. Which will be group of VAT Adjustment ledger?

  1. Indirect Expenses
  2. Indirect Incomes
  3. Duties & Taxes
  4. None of these

123. TDS is applied on which of the following incomes?

  1. Commission of lottery ticket
  2. Professional Fee
  3. Salary Income (Contract)
  4. All of these

124. On which of the following incomes TDS in not applied?

  1. Advertisement Income
  2. Cable Operator
  3. Rent income from land or home
  4. Insurance Commission

125. According to law who has to pay TDS to the Income Tax Department?

  1. Service Receiver
  2. Service Receiver
  3. Service Provider and Service Receiver both
  4. There is no such provision

126. What is the TDS exemption limit for contractor and sub-contractor?

  1. 5000
  2. 10000
  3. 20000
  4. 50000

127. What is the TDS exemption limit for professional fees like Audit fees, Consultancy fees,Training fees?

  1. 15000
  2. 20000
  3. 25000
  4. 50000

128. Which shortcut key is used to enable Tax Deducted at Source [TDS]?

  1. F9
  2. F11
  3. F12
  4. Alt + F12

129. Which step is appropriate to view TDS Nature of Payment?

  1. Gateway of Tally? Display ? TDS Nature of Payment
  2. Gateway of Tally? Statutory Info.? TDS Nature of Payment
  3. Gateway of Tally? Display ? Statutory Info.? TDS Nature of Payment

130. Which group [Under] should be selected for TDS on Advertisement A/C?

  1. Indirect Expenses
  2. Duties & Taxes
  3. Indirect Incomes
  4. Sundry Creditors
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