ECONOMICS

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COST ACCOUNTING

TRANSFER PRICING

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Turnover commission from government business branch can claim
A
10% of revenue earned by bank from G. B. routed through them.
B
2% of revenue earned by bank from G. B. routed through them.
C
15% of revenue earned by bank from G. B. routed through them.
D
100% of revenue earned by bank from G. B. routed through them.
Explanation: 

Detailed explanation-1: -Agency banks would be eligible to claim agency commission for pension transactions at the rate of Rs. 60/-per transaction only when the entire work relating to disbursement of pension including pension calculation is attended to by the agency bank.

Detailed explanation-2: -Revenue receipts and payments on behalf of the Central/State Government. Pension payments in respect of Central / State Governments. Special Deposit Scheme (SDS) 1975. Public Provident Fund (PPF) Scheme, 1968.

Detailed explanation-3: -As per RBI guidelines, Savings Account cannot be opened for: Government Departments/bodies depending upon budgetary allocations for performance of their functions. Municipal Corporations or Municipal Committees.

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