Q481
Consider the following statements. Assertion (A): If the interest is payable outside India, tax must be deducted at source. 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. Select the correct answer from the option given below:
A.
Both (A) and (R) are correct and (R) is the correct explanation of (A)
AnswerB.
Both (A) and (R) are correct, but (R) is not the correct explanation of (A)
C.
(A) is correct, but (R) is wrong
D.
(A) is wrong, but (R) is correct
Answer: Option A
Solution
Answer: Option A
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