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Mock Test Mock Paper 01 Mixed Easy (default)

ABC Ltd. (सूचीबद्ध) ने FY में ₹80 लाख शुद्ध लाभ अर्जित किया. MD को ₹60 लाख वार्षिक पारिश्रमिक देना चाहते हैं. सही संयोजन? / ABC Ltd. (listed) earned net profit ₹80 lakh. Wishes to pay MD ₹60 lakh annual remuneration. Correct combination?

4 similar found — View group
A) Sec 197 permits → P&L expense → TDS u/s 392 / Sec 197 permits → P&L → TDS u/s 392
B) Sec 197 permits → P&L Appropriation → TDS u/s 393 / Sec 197 permits → Appropriation → TDS u/s 393
C) Sec 197 permits → Balance Sheet → TCS u/s 394 / Sec 197 permits → BS → TCS u/s 394
D) Sec 197 prohibits → P&L expense → No TDS / Sec 197 prohibits → P&L → No TDS
E) Sec 197 prohibits → Capital Reserve → TDS u/s 392 / Sec 197 prohibits → Capital Reserve → TDS u/s 392
Correct Answer: Option D
Solution:

Section 197 caps MD remuneration at 11 percent of net profit or Rs 60 lakh whichever is lower. Eleven percent of 80 lakh is 8.8 lakh, so Rs 60 lakh exceeds limit without approval and payment is prohibited. If approved, it would be P&L expense with TDS under Section 392. Sec 197: listed co. MD max 11% net profit या ₹60L whichever lower. 11% of 80L = ₹8.8L < ₹60L, अतः ₹60L Sec 197 approval के बिना prohibited. अनुमति होने पर P&L expense + TDS u/s 392.

Mock Test T1 Bilingual Easy (default)

ABC Ltd. (सूचीबद्ध) ने FY में ₹80 लाख शुद्ध लाभ अर्जित किया. MD को ₹60 लाख वार्षिक पारिश्रमिक देना चाहते हैं. सही संयोजन? / ABC Ltd. (listed) earned net profit ₹80 lakh. Wishes to pay MD ₹60 lakh annual remuneration. Correct combination?

4 similar found — View group
A) Sec 197 permits → P&L expense → TDS u/s 392 / Sec 197 permits → P&L → TDS u/s 392
B) Sec 197 permits → P&L Appropriation → TDS u/s 393 / Sec 197 permits → Appropriation → TDS u/s 393
C) Sec 197 permits → Balance Sheet → TCS u/s 394 / Sec 197 permits → BS → TCS u/s 394
D) Sec 197 prohibits → P&L expense → No TDS / Sec 197 prohibits → P&L → No TDS
E) Sec 197 prohibits → Capital Reserve → TDS u/s 392 / Sec 197 prohibits → Capital Reserve → TDS u/s 392
Correct Answer: Option D
Solution:

Section 197 caps MD remuneration at 11 percent of net profit or Rs 60 lakh whichever is lower. Eleven percent of 80 lakh is 8.8 lakh, so Rs 60 lakh exceeds limit without approval and payment is prohibited. If approved, it would be P&L expense with TDS under Section 392. Sec 197: listed co. MD max 11% net profit या ₹60L whichever lower. 11% of 80L = ₹8.8L < ₹60L, अतः ₹60L Sec 197 approval के बिना prohibited. अनुमति होने पर P&L expense + TDS u/s 392.

Mock Test Mock List Bilingual Easy (default)

ABC Ltd. (सूचीबद्ध) ने FY में ₹80 लाख शुद्ध लाभ अर्जित किया. MD को ₹60 लाख वार्षिक पारिश्रमिक देना चाहते हैं. सही संयोजन? / ABC Ltd. (listed) earned net profit ₹80 lakh. Wishes to pay MD ₹60 lakh annual remuneration. Correct combination?

4 similar found — View group
A) Sec 197 permits → P&L expense → TDS u/s 392 / Sec 197 permits → P&L → TDS u/s 392
B) Sec 197 permits → P&L Appropriation → TDS u/s 393 / Sec 197 permits → Appropriation → TDS u/s 393
C) Sec 197 permits → Balance Sheet → TCS u/s 394 / Sec 197 permits → BS → TCS u/s 394
D) Sec 197 prohibits → P&L expense → No TDS / Sec 197 prohibits → P&L → No TDS
Correct Answer: Option D
Solution:

Section 197 caps MD remuneration at 11 percent of net profit or Rs 60 lakh whichever is lower. Eleven percent of 80 lakh is 8.8 lakh, so Rs 60 lakh exceeds limit without approval and payment is prohibited. If approved, it would be P&L expense with TDS under Section 392. Sec 197: listed co. MD max 11% net profit या ₹60L whichever lower. 11% of 80L = ₹8.8L < ₹60L, अतः ₹60L Sec 197 approval के बिना prohibited. अनुमति होने पर P&L expense + TDS u/s 392.

Mock Test Mock List Bilingual Easy (default)

ABC Ltd. (सूचीबद्ध) ने FY में ₹80 लाख शुद्ध लाभ अर्जित किया. MD को ₹60 लाख वार्षिक पारिश्रमिक देना चाहते हैं. सही संयोजन? / ABC Ltd. (listed) earned net profit ₹80 lakh. Wishes to pay MD ₹60 lakh annual remuneration. Correct combination?

4 similar found — View group
A) Sec 197 permits → P&L expense → TDS u/s 392 / Sec 197 permits → P&L → TDS u/s 392
B) Sec 197 permits → P&L Appropriation → TDS u/s 393 / Sec 197 permits → Appropriation → TDS u/s 393
C) Sec 197 permits → Balance Sheet → TCS u/s 394 / Sec 197 permits → BS → TCS u/s 394
D) Sec 197 prohibits → P&L expense → No TDS / Sec 197 prohibits → P&L → No TDS
Correct Answer: Option D
Solution:

Section 197 caps MD remuneration at 11 percent of net profit or Rs 60 lakh whichever is lower. Eleven percent of 80 lakh is 8.8 lakh, so Rs 60 lakh exceeds limit without approval and payment is prohibited. If approved, it would be P&L expense with TDS under Section 392. Sec 197: listed co. MD max 11% net profit या ₹60L whichever lower. 11% of 80L = ₹8.8L < ₹60L, अतः ₹60L Sec 197 approval के बिना prohibited. अनुमति होने पर P&L expense + TDS u/s 392.

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