Q 3.Corporation tax in India is levied on income of a company. Which one
of the following does not include Corporation
tax?
  of the following does not include Corporation
tax?
Anonymous Quiz
    21%
    (a) Profit from business
      
    12%
    b) Capital gain
      
    52%
    (c) Interest on securities
      
    15%
    (d) Sale proceed of assets
      
    Q 4.Which one among the following is not a source of tax revenue for the
Central Government in India?
  Central Government in India?
Anonymous Quiz
    6%
    (a) Income tax
      
    36%
    (b) Customs duties
      
    18%
    (c) Service tax
      
    39%
    (d) Motor Vehicle tax
      
    Q 5.Which of the following statements about Krishi Kalyan Cess (KKC) is/are correct?
1.It is calculated in the same way as Service Tax. 2.The rate of KKC is 0.50%. 3.KKC is the same as Krishi Kalyan Surcharge (KKS).
  1.It is calculated in the same way as Service Tax. 2.The rate of KKC is 0.50%. 3.KKC is the same as Krishi Kalyan Surcharge (KKS).
Anonymous Quiz
    24%
    (a) 1, 2 and 3
      
    36%
    (b) 1 and 2 only
      
    33%
    (c) 2 and 3 only
      
    6%
    (d) 1 only
      
    Q1.Who had suggested an imposition of ‘expenditure tax’ in India for the
first time?
  first time?
Anonymous Quiz
    19%
    (a) Kalecki
      
    31%
    (b) Kaldor
      
    38%
    (c) R. J. Chelliah
      
    13%
    (d) Gautam Mathur
      
    Q2.MODVAT is related to
  Anonymous Quiz
    19%
    (a) Excise duty
      
    75%
    (b) Value added Tax (VAT)
      
    6%
    (c) Wealth Tax
      
    0%
    (d) Income Tax
      
    Q3.Which one of the following is not a tax/duty levied by the Government
of India?
  of India?
Anonymous Quiz
    9%
    (a) Service Tax
      
    44%
    (b) Education
      
    22%
    (c) Custom Duty
      
    25%
    (d) Toll Tax
      
    Q 4.With a view to redress the grievances of tax payers speedily, Income
Tax department has started a new electronic platform which is known
as—
  Tax department has started a new electronic platform which is known
as—
Anonymous Quiz
    37%
    (a) e-grievances
      
    20%
    (b) e-IT
      
    23%
    (c) e-bharat
      
    20%
    (d) e-nivaran
      
    Q 5.In India, one-rupee coins and notes and subsidiary coins are issued by
  Anonymous Quiz
    29%
    (a) The Reserve Bank of India
      
    62%
    (b) The Central Government
      
    4%
    (c) The State Bank of India
      
    4%
    (d) The Unit Trust of India
      
    Q 1.Who had suggested an imposition of ‘expenditure tax’ in India for the
first time?
  first time?
Anonymous Quiz
    11%
    (a) Kalecki
      
    57%
    (b) Kaldor
      
    26%
    (c) R. J. Chelliah
      
    6%
    (d) Gautam Mathur
      
    Q 2.MODVAT is related to
  Anonymous Quiz
    6%
    (a) Excise duty
      
    89%
    (b) Value added Tax (VAT)
      
    6%
    (c) Wealth Tax
      
    0%
    (d) Income Tax
      
    Q 3.Which one of the following is not a tax/duty levied by the Government
of India?
  of India?
Anonymous Quiz
    11%
    (a) Service Tax
      
    29%
    (b) Education
      
    13%
    (c) Custom Duty
      
    47%
    (d) Toll Tax
      
    Q 4.With a view to redress the grievances of tax payers speedily, Income
Tax department has started a new electronic platform which is known
as—
  Tax department has started a new electronic platform which is known
as—
Anonymous Quiz
    34%
    (a) e-grievances
      
    14%
    (b) e-IT
      
    20%
    (c) e-bharat
      
    31%
    (d) e-nivaran
      
    Q 5.Arrange taxes by Centre’s revenue share (high to low):
  Anonymous Quiz
    32%
    (a) Corp > Inc > Excise > Service
      
    29%
    (b) Inc > Corp > Service > Excise
      
    29%
    (c) Service > Inc > Corp > Excise
      
    11%
    (d) Excise > Corp > Inc > Service
      
    Q 1.If Sales tax on a commodity is raised, but the revenue earned through
its sale decrease sharply, which one of the following statements about
the nature of this commodity would be correct?
  its sale decrease sharply, which one of the following statements about
the nature of this commodity would be correct?
Anonymous Quiz
    28%
    (a) Price elasticity of demand for it is unity
      
    24%
    (b) It must be an essential goods
      
    38%
    (c) Price elasticity of demand for it is high
      
    10%
    (d) Price elasticity of demand for it is low
      
    Q 2.Which of the following taxes fall under the state list of Indian
Constitution?
1. Entertainment tax 2. Luxury tax 3. Stamp Duty 4. Custom Duty Select the answer using the codes given below—
  Constitution?
1. Entertainment tax 2. Luxury tax 3. Stamp Duty 4. Custom Duty Select the answer using the codes given below—
Anonymous Quiz
    30%
    (a) 1 and 2
      
    39%
    (b) 1, 3 and 4
      
    15%
    (c) 2, 4 and 5
      
    15%
    (d) 1, 2 and 4
      
    Q 3.Which of the following Tax is levied by Union and collected and
appropriated by States?
  appropriated by States?
Anonymous Quiz
    38%
    (a) Stamp Duties
      
    49%
    (b) Passenger and Goods Tax
      
    8%
    (c) Estate Duty
      
    5%
    (d) Taxes on Newspapers
      
    Q 4.GST replaced multiple indirect taxes to create a unified market.What is the key objective of GST?
  Anonymous Quiz
    13%
    (a) Control inflation
      
    82%
    (b) Create a single national market
      
    5%
    (c) Increase customs duty
      
    0%
    (d) Reduce subsidies
      
    Q 5.GST came into effect from July 1, 2017.
Which type of taxes were merged into GST?
  Which type of taxes were merged into GST?
Anonymous Quiz
    9%
    (a) Direct taxes
      
    79%
    (b) Indirect taxes
      
    9%
    (c) Export duties
      
    2%
    (d) Wealth taxes
      
    Q 1.Devaluation of currency leads to
  Anonymous Quiz
    25%
    (a) expansion of export trade
      
    20%
    (b) contraction of import trade
      
    18%
    (c) expansion of import substituting
      
    36%
    (d) all of the above
      
    Q 2.Which of the following terms is not a financial term?
  Anonymous Quiz
    7%
    (a) Investment
      
    39%
    (b) Core banking solution
      
    15%
    (c) RTGS
      
    39%
    (d) All the above
      
    