Which payments to a resident are covered by section 393(1), Table items 5(ii) and 5(iii), of the Income-tax Act, 2025?
Question and options
Which payments to a resident are covered by section 393(1), Table items 5(ii) and 5(iii), of the Income-tax Act, 2025?
Commission or brokerage, other than insurance
Interest on securities such as debentures
Interest other than interest on securities
Income in respect of mutual fund units
Answer and explanation
Correct answer: C - Interest other than interest on securities
Items 5(ii) and 5(iii) of the Table in section 393(1) cover interest other than interest on securities, paid by banks, co-operative banks and post offices under item 5(ii) and by other specified persons under item 5(iii). Interest on securities is covered separately by item 5(i).
Practice for these exams
-
All India Bar Examination (AIBE)
Subject revision
See pack details on LawMint.net -
IIT Kharagpur LL.M. Entrance
Subject revision
See pack details on LawMint.net -
CLAT PG
Subject revision for a passage-based exam
-
AILET PG
Subject revision
Related exam syllabi
More solved explanations in Income tax - assessment, appeals, penalties & prosecution
- What does section 245 of the Income-tax Act, 2025 provide for?
- For tax year 2026-27, a business's cash receipts and cash payments are each within 5% of the respective totals, and no other audit condition applies. Above what…
- Which section of the Income-tax Act, 2025 governs compulsory tax audit of accounts for eligible business or professional cases?
- As amended by the Finance Act, 2026, section 478(1) of the Income-tax Act, 2025 punishes a wilful attempt to evade tax, where the amount sought to be evaded…
- Under section 407 of the Income-tax Act, 2025, which authority may pass an order requiring a person to pay advance tax, not later than the last day of February of…