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
32%
(b) Kaldor
35%
(c) R. J. Chelliah
13%
(d) Gautam Mathur
Q2.MODVAT is related to
Anonymous Quiz
16%
(a) Excise duty
77%
(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
10%
(a) Service Tax
42%
(b) Education
23%
(c) Custom Duty
26%
(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
38%
(a) e-grievances
21%
(b) e-IT
21%
(c) e-bharat
21%
(d) e-nivaran
Q 5.In India, one-rupee coins and notes and subsidiary coins are issued by
Anonymous Quiz
30%
(a) The Reserve Bank of India
61%
(b) The Central Government
5%
(c) The State Bank of India
5%
(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
12%
(a) Kalecki
56%
(b) Kaldor
26%
(c) R. J. Chelliah
6%
(d) Gautam Mathur
Q 2.MODVAT is related to
Anonymous Quiz
6%
(a) Excise duty
88%
(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
30%
(b) Education
14%
(c) Custom Duty
46%
(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
35%
(a) e-grievances
15%
(b) e-IT
21%
(c) e-bharat
29%
(d) e-nivaran
Q 5.Arrange taxes by Centre’s revenue share (high to low):
Anonymous Quiz
32%
(a) Corp > Inc > Excise > Service
30%
(b) Inc > Corp > Service > Excise
27%
(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
25%
(a) Price elasticity of demand for it is unity
25%
(b) It must be an essential goods
39%
(c) Price elasticity of demand for it is high
11%
(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
28%
(a) 1 and 2
41%
(b) 1, 3 and 4
16%
(c) 2, 4 and 5
16%
(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
39%
(a) Stamp Duties
47%
(b) Passenger and Goods Tax
8%
(c) Estate Duty
6%
(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
10%
(a) Direct taxes
79%
(b) Indirect taxes
10%
(c) Export duties
2%
(d) Wealth taxes
Q 1.Devaluation of currency leads to
Anonymous Quiz
26%
(a) expansion of export trade
21%
(b) contraction of import trade
19%
(c) expansion of import substituting
35%
(d) all of the above
Q 2.Which of the following terms is not a financial term?
Anonymous Quiz
8%
(a) Investment
40%
(b) Core banking solution
15%
(c) RTGS
38%
(d) All the above
