Q 3.What is the objective of Basel III norms?
(1) Improve banks’ ability to absorb shocks
(2) Improve risk management and governance (3) Strengthen transparency in banking
(1) Improve banks’ ability to absorb shocks
(2) Improve risk management and governance (3) Strengthen transparency in banking
Anonymous Quiz
4%
(a) 1 only
46%
(b) 1 and 2 only
23%
(c) 1 and 3 only
27%
(d) 1, 2 and 3
Q 4.Which is a feature of progressive taxation?
(1) Marginal tax rate increases with income
(2) Marginal tax rate exceeds average tax rate
(1) Marginal tax rate increases with income
(2) Marginal tax rate exceeds average tax rate
Anonymous Quiz
33%
(a) 1 only
13%
(b) 2 only
50%
(c) Both 1 and 2
3%
(d) Neither 1 nor 2
Q 5.Consider the following about GST in India:
(1) GST has two components – Central and State GST
(2) Central and State GST are paid to a joint account (3) Imports are zero-rated while exports are taxed under GST
(1) GST has two components – Central and State GST
(2) Central and State GST are paid to a joint account (3) Imports are zero-rated while exports are taxed under GST
Anonymous Quiz
15%
(a) 1 only
33%
(b) 2 and 3 only
12%
(c) 1 and 3
39%
(d) 1 and 2 only
Q 1.The Minimum Alternative Tax (MAT) was introduced in the budget of
the Government of India for the year?
the Government of India for the year?
Anonymous Quiz
14%
(a) 1991-92
40%
(b) 1992-93
29%
(c) 1995-96
17%
(d) 1996-97
Q 2.Which statement(s) correctly describe the disinvestment policy of the Indian government? I. Government sells its stake in PSUs.
II. Disinvestment is a fast process.
III. Disinvestment is slow and targets are often missed.
II. Disinvestment is a fast process.
III. Disinvestment is slow and targets are often missed.
Anonymous Quiz
8%
(a) Only I
58%
(b) I and III
13%
(c) I and II
21%
(d) I, II and III
Q 3.PAN card issued by the Income Tax Department can’t be used for
which of the following purpose?
which of the following purpose?
Anonymous Quiz
26%
(a) proof of address
23%
(b) proof of identity
39%
(c) proof of registered tax payer
13%
(d) proof of date of birth
Q 4.Which one of the following agencies assigns the Agricultural Income
Tax to states in India?
Tax to states in India?
Anonymous Quiz
25%
(a) Inter – State council
19%
(b) National Development Council
38%
(c) Agriculture Finance Corporation
19%
(d) Finance commission
Q 5.Which one of the following states is the first state to impose
Agriculture Income Tax in India?
Agriculture Income Tax in India?
Anonymous Quiz
26%
(a) Madhya Pradesh
53%
(b) Uttar Pradesh
13%
(c) West Bengal
8%
(d) Bihar
Q 1.Which of the following statements is/are correct regarding Agricultural Income Tax in India?
1.It is levied and collected by the Union Government. 2.It is levied uniformly across the country.
1.It is levied and collected by the Union Government. 2.It is levied uniformly across the country.
Anonymous Quiz
16%
(a) 1 only
20%
(b) 2 only
40%
(c) Both 1 and 2
24%
(d) Neither 1 nor 2
Q 2.The Government of India earns maximum revenue from
Anonymous Quiz
42%
(a) Income tax
33%
(b) Union excise duty
3%
(c) Customs duty
22%
(d) Corporation tax
Q3. The representation of the relationship between possible rates of
taxation and the resulting levels of government revenue is called
taxation and the resulting levels of government revenue is called
Anonymous Quiz
45%
(a) Laffer curve
28%
(b) Griffin curve
28%
(c) Philips curve
0%
(d) Gini’s curve
Q 4.The largest tax collected at the federal government level is the:
Anonymous Quiz
48%
(a) Income tax
30%
(b) Sales tax
18%
(c) Property tax
3%
(d) Social security tax
Q 5.Indicate the sequence of the following in terms of the implementation 1. Income Tax
2. Expenditure Tax
3. Value Added Tax 4. Fringe Benefits Tax
2. Expenditure Tax
3. Value Added Tax 4. Fringe Benefits Tax
Anonymous Quiz
37%
(a) 1, 3, 2, 4
44%
(b) 1, 2, 3, 4
11%
(c) 2, 3, 4, 1
7%
(d) 3, 4, 1, 2
Q.1 Which principle links tax to income or wealth?
Anonymous Quiz
6%
(a) Benefit Principle
39%
(b) Progressive Tax
36%
(c) Ability to Pay Principle
18%
(d) Indirect Tax
Q 2.Which one of the following is the major source of gross tax revenue
(GTR) for the Government of
India?
(GTR) for the Government of
India?
Anonymous Quiz
24%
(a) Income tax
56%
(b) Corporation tax
6%
(c) Customs duty
15%
(d) Service tax
Q.3. Fiscal Policy in India is formulated by
Anonymous Quiz
11%
(a) the Reserve Bank of India
17%
(b) the Planning Commission
64%
(c) the Finance Ministry
8%
(d) the Securities and Exchange Board of India
Q 4. The government can influence private sector expenditure
by
1. taxation 2. subsidies 3. macro-economic policies 4. grants Select the correct answer using the codes given below
by
1. taxation 2. subsidies 3. macro-economic policies 4. grants Select the correct answer using the codes given below
Anonymous Quiz
61%
(a) 1, 2, 3 and 4
16%
(b) 1, 2 and 4
23%
(c) 1, 2 and 3
0%
(d) 3 and 4
Q 5. Which of the following are examples of direct taxes in India?
1.Corporation tax 2.Income tax 3.Wealth tax 4.Customs duty 5.Excise duty Choose the correct answer:
1.Corporation tax 2.Income tax 3.Wealth tax 4.Customs duty 5.Excise duty Choose the correct answer:
Anonymous Quiz
34%
(a) 1, 2 and 3
40%
(b) 1, 2, 4 and 5
17%
(c) 2 and 3
9%
(d) 1, 3, 4 and 5
Q 1.In India, the price of petroleum products has been deregulated mainly
to
to
Anonymous Quiz
45%
(a) reduce the burden of subsidies given to the oil companies
41%
(b) discourage the exploration of oil reserves in the country
14%
(c) discourage the demand for private vehicles
0%
(d) curb the use of black money in the economy
Q 2.Corporation tax is imposed by
Anonymous Quiz
14%
(a) State Government
47%
(b) Central Government
11%
(c) Local Government
28%
(d) State as well as Central Government