A B C D E G 15. Examine, explain in brief and state the rate and amount of tax deduction at source (during the year) Solution: 2 in the following cases for financial year 2019-20 along with the reasons thereof assuming that the 3 deductees are residents, and have not given any declaration under Form 15G/15H and PAN is available, 4 unless mentioned otherwise: (5 x 1 mark each) 5 6 a) A sum of Rs 42,800 has been credited as interest on recurring deposit by a banking company to 7 the account of Mr Lucky (age 65 years) 8 b) Mr Lucky won a lucky draw prize of Rs 21,000. The lucky draw was organised by M/s Lakshmi and Co. for its customers 9 10 c) Mr Lucky has a turnover of Rs 2 crores from his business during the year 2019-20. He pays a 11 rent of Rs 60,000 p.m to Mr Z for the usage of land. 12 d) Payment of Rs. 50,000 to M/s X Ltd. for a contract of repair of building (PAN not available) 13 e) Mr Raj, having business turnover of Rs. 5 crore, pays rent of Rs. 40,000 per month for use of 14 plant and machinery. 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 Question 2 & Solution Question 3 & Solution Question 4 & Solution Question 5 & Solution + Type here to search EI C