Economics · Income Tax Act
Assertion (A): If interest is payable outside India, tax must be deducted at source (TDS). Reason (R): If tax has not been deducted at source, the amount paid as interest will not be allowed as a deduction in computing business income under the Income Tax Act. Select the correct answer from the code given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1(A) is wrong but (R) is correct.
- 2(A) is correct but (R) is wrong.
- 3Both (A) and (R) are correct but (R) is not the correct explanation of (A).
- 4Both (A) and (R) are correct and (R) is the correct explanation of (A).✓
Correct answer
Both (A) and (R) are correct and (R) is the correct explanation of (A).
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Income Tax Act MCQs →Want more practice questions on Income Tax Act?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Income Tax Act