Question 1. A firm or an individual or a Hindu Undivided Family (HUF) whose books of account are required to be audited under section 44AB shall furnish the return of income electronically under digital signature.
(A) TRUE
(B) FALSE
Question 2. A company can file its return electronically without digital signature.
(A) TRUE
(B) FALSE
Question 3. A partnership firm required to get its books of account audited shall file the return of income electronically with or without digital signature?
(A) TRUE
(B) FALSE
Question 4. A resident and ordinarily resident individual/HUF having any assets (including financial interest in any entity) located outside India or signing authority in any account located outside India shall furnish the return of income electronically with a digital signature.
(A) TRUE
(B) FALSE
Question 5. TDS (Tax deducted at source) was deducted on interest from tax- saving Fixed Deposits (FDs) The tax payer?
(A) Will not have to report the income because tax has already been paid
(B) Has to add the income to his annual income and pay additional tax if necessary
(C) Can claim a refund of the TDS because these were tax saving fixed deposit
(D) Any of the above.
Question 6. Where the return of income is electronically filed without digital signature and without using electronic verification code, then a copy of ITR-V, duly signed by the taxpayer, is to be sent (within the period specified in this regard, i.e., 120 days) by ordinary post or speed post or courier to “Income-tax Department – CPC, Post Bag No. 1, Electronic City Post Office, Bengaluru–560100 (Karnataka).
(A) TRUE
(B) FALSE
Question 7. Which sub menu is used to create new ledger, groups and voucher types in tally?
(A) Account Info
(B) Accounting Vouchers
(C) Inventory Vouchers
(D) Inventory Info
Question 8. Number of digit in a PAN card is __________.
(A) 7
(B) 9
(C) 10
(D) 8
Question 9. Related fields in a database are grouped to form a?
(A) Data file
(B) Data record
(C) Bank
(D) Menu
Question 10. If the recipient of income doesn’t furnish his PAN to deductor then TDS is to be deducted at which rate?
(A) 10%
(B) 15%
(C) 5%
(D) 20%
Question 11. Which option is used in Tally to make changes in created company?
(A) Shut Company
(B) Select Company
(C) Alter
(D) None of these
Question 12. A report generator is used to?
(A) Delete files
(B) Print files on paper
(C) Data entry
(D) Update files
Question 13. To creating voucher, step after GOT is?
(A) Accounts info
(B) Accounting vouchers
(C) Inventory vouchers
(D) Inventory info
Question 14. Salary Account comes under which head?
(A) Indirect Incomes
(B) Indirect Expenses
(C) Direct Incomes
(D) Direct Expenses
Question 15. Which shortcut key is used in Company Features screen to use Inventory features in Tally?
(A) F1
(B) F2
(C) F4
(D) F3
Question 16. Which menu appears after starting tally for the first time?
(A) Gateway of Tally
(B) Company Info
(C) Display
(D) None of these
Question 17. Which shortcut key to zoom in Tally?
(A) Alt+P
(B) Alt+Z
(C) Alt+Ctrl+Z
(D) None of these
Question 18. We deduct _______ after computing tax liability, to determine the actual tax payment.
(A) Advance tax
(B) TDS
(C) TCS
(D) Both i & ii
Question 19. Which key is used to post credit purchase in Tally?
(A) F8
(B) F9
(C) F10
(D) F2
Question 20. Which shortcut key is used in company for statutory and taxation in Tally?
(A) F11 And Then F3
(B) F12 And Then F3
(C) Alt+F11
(D) Alt+Ctrl+F11
Question 21. In Tally functions of F3 button _________.
(A) To close the company
(B) To select the different company
(C) To change the current date
(D) To select the company
Question 22. Where do we record transactions of Salary, Rent paid?
(A) Contra
(B) Journal
(C) Receipt
(D) Payment
Question 23. All payments are entered under Accounting Voucher in Tally through?
(A) F5
(B) F6
(C) F7
(D) F8
Question 24. Is it possible to load companies with the same name at the same time?
(A) Yes
(B) No
(C) Always possible
(D) Sometimes possible
Question 25. For Bad Debt Recovery which group required to be selected?
(A) Indirect income
(B) Direct income
(C) Direct expenses
(D) Indirect expenses