taxes types, methods & budgeting process section 1 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 6 EXERCISES
-
Top 500+ Indian Taxation System GK MCQ Quiz For SSC »
-
Top 500+ Taxes Types & Budgeting Process GK MCQ Quiz PDF »
-
499+ Tax Slab Types Benefits And Penalty GK MCQ Quiz PDF »
-
New 499+ Indian Taxation Laws Budget Current GK MCQ Quiz »
-
New 500+ Indian Income Tax Slab Laws Acts GK MCQ Quiz PDF »
-
1000+ Indian Tax System Types Concepts MCQ Quiz For IBPS »
The following question based on Taxes Types, Methods & Budgeting Process topic of indian economy mcq
- Corporate Tax
- Profit from Public Enterprises
- Sale of National Savings Certificates
- Loans received from the World Bank
- Excise duties
(a) 2, 3 and 4
(b) 3, 4 and 5
(c) 1, 2 and 3
(d) All of the above
The correct answers to the above question in:
Answer: (d)
Practice Taxes Types, Methods & Budgeting Process (taxes types, methods & budgeting process section 1) Online Quiz
Discuss Form
Read more taxes types methods budgeting process Based Indian Economy Questions and Answers
Question : 1
Which of the following are part of capital budget of Govt. of India?
- Issuance of Sovereign Gold Bonds
- Receipt from Gold Monetization
a) (ii) only
b) Both (i) & (ii)
c) (i) only
d) Neither (i) nor (ii)
Answer »Answer: (b)
In the case of Sovereign Gold Bonds, the government issues/creates the gold bond and in return, it gets money from the public.
This money will come under capital receipt because the gold bond is a kind of liability for the govt. which the govt. must pay in future. Principal payment will come under capital expenditure and interest payment will come under revenue expenditure.
The physical gold which the govt. receives from the pubic in case of gold monetization scheme becomes a liability for the govt. (in return for the physical gold, govt issues a paper which is basically liability for the govt.) which the govt. will have to pay in future either in physical gold form or in cash.
Question : 2
PAN card issued by the Income Tax Department can’t be used for which of the following purpose?
a) proof of registered tax payer
b) proof of address
c) proof of identity
d) proof of date of birth
Answer »Answer: (b)
Permanent Account Number (PAN)card is a unique alphanumeric combination. It is issued by the Indian Income Tax Department. It serves as an important ID proof, date of birth proof and proof of taxpayer.
However, it can’t be used for the purpose of address proof, as the address is not mentioned on the PAN card.
Question : 3
Consider the following statements:
- Tax revenue as a per cent of GDP of India has steadily increased in the last decade.
- Fiscal deficit as a per cent of GDP of India has steadily increased in the last decade.
a) Both 1 and 2
b) 1 only
c) 2 only
d) Neither 1 nor 2
Answer »Answer: (d)
From the official Economic Survey 2014-15, we get following data If we go only by the strict interpretation of above graph then answer should be “D”
Question : 4
Who had suggested an imposition of ‘expenditure tax’ in India for the first time?
a) Kaldor
b) R.J. Chelliah
c) Kalecki
d) Gautam Mathur
Answer »Answer: (a)
Question : 5
Which one of the following is not a tax/duty levied by the Government of India?
a) Custom Duty
b) Service Tax
c) Education
d) Toll Tax
Answer »Answer: (d)
Toll Taxes is one the main Sources of revenue for State Governments. It is not levied by Govt. of India.
GET Taxes Types, Methods & Budgeting Process PRACTICE TEST EXERCISES
taxes types, methods & budgeting process section 1
taxes types, methods & budgeting process section 2
taxes types, methods & budgeting process section 3
taxes types, methods & budgeting process section 4
taxes types, methods & budgeting process section 5
taxes types, methods & budgeting process section 6
Taxes Types, Methods & Budgeting Process Shortcuts and Techniques with Examples
Verbal Reasoning
Question & Answer Quiz
Non Verbal Reasoning
Question & Answer Quiz
Quantitative Aptitude
Question & Answer Quiz
Computer MCQ
Question & Answer Quiz
General English
Question & Answer Quiz
History GK
Question & Answer Quiz
Polity GK
Question & Answer Quiz
Geography GK
Question & Answer Quiz
Economy GK
Question & Answer Quiz
General Awareness GK
Question & Answer Quiz
Recently Added Subject & Categories For All Competitive Exams
New 100+ Compound Interest MCQ with Answers PDF for IBPS
Compound Interest verbal ability questions and answers solutions with PDF for IBPS RRB PO. Aptitude Objective MCQ Practice Exercises all competitive exams
Continue Reading »
100+ Mixture and Alligation MCQ Questions PDF for IBPS
Most importantly Mixture and Alligation multiple choice questions and answers with PDF for IBPS RRB PO. Aptitude MCQ Practice Exercises all Bank Exams
Continue Reading »
IBPS Profit and Loss Questions Solved Problems with PDF
Most important Profit and Loss multiple choice questions and answers with PDF for IBPS RRB PO. 100+ Aptitude MCQ Practice Exercises all competitive exams
Continue Reading »
100+ Average Aptitude Questions Answers solutions MCQ PDF
New Average multiple choice questions and answers with PDF for IBPS RRB PO. 100+ Quantitative Aptitude MCQ Practice Exercises all competitive exams
Continue Reading »