Question 1

What does TDS stand for?

Accepted Answer

Tax Deducted at Source

Answer

Tax Reduced Directly

Answer

Tax Reduced at Source

Answer

Tax Direct Source

Question 2

In which type of tax is TDS considered?

Accepted Answer

Indirect Tax

Answer

Direct Tax

Answer

Semi-Direct Tax

Answer

Progressive Tax

Question 3

How often are TDS returns filed?

Accepted Answer

Quarterly

Answer

Annually

Answer

Monthly

Answer

Bi-Annually

Question 4

Up to what late fee can be imposed for not filing TDS return on time?

Accepted Answer

₹5000

Answer

No Limit

Answer

₹10000

Answer

₹20000

Question 5

Which form is used to file TDS return for employee salary deduction?

Accepted Answer

Form 24Q

Answer

Form 1

Answer

Form 26Q

Answer

Form 16Q

Question 6

What is the due date for filing TDS return for the first quarter (April-June) of the financial year 2023-24?

Accepted Answer

31st July

Answer

30th September

Answer

31st August

Answer

31st October

Question 7

Can Form 24Q and Form 26Q be filed together during TDS return filing?

Accepted Answer

No

Answer

Only if the total TDS amount is less than ₹10000

Answer

Only if it relates to the same deductor

Answer

Yes

Question 8

Along with forms 24Q and 26Q, which other form needs to be submitted for TDS return filing?

Accepted Answer

Form 27A

Answer

Form 22A

Answer

Form 16

Answer

Form 18

Question 9

What is the penalty for not paying deducted TDS within the due date?

Accepted Answer

1.5% per month

Answer

Flat penalty of ₹1000

Answer

No penalty

Answer

2% per month

Question 10

What are the two main types of TDS?

Accepted Answer

TDS on employee salary and TDS on non-employee payments

Answer

TDS on government employees and TDS on private employees

Answer

TDS on salaried individuals and TDS on business entities

Answer

TDS on tax residents and TDS on non-residents

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