Taxes Types, Methods & Budgeting Process Section 5 Practice Questions Answers Test With Solutions & More Shortcuts
TAXES TYPES, METHODS & BUDGETING PROCESS PRACTICE TEST [6 - 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
Question : 4 [CDS- 2014-I]
Corporation tax in India is levied on income of a company. Which one of the following does not include Corporation tax?
a) Interest on securities
b) Profit from business
c) Capital gain
d) Sale proceed of assets
Answer »Answer: (d)
Generally, the income of a company falls under any of the following 4 heads of income:
- Profits or gains from the business
- Income from property, whether it is housing, commercial, self-occupied or let-out. If the property is used in the company’s business operations, it does not fall under this head.
- Capital gains
- Income from other sources including winnings from lotteries, races and interest on securities.
Question : 5 [UPSC (Pre) 1997]
A redistribution of income in a country can be best brought through
a) Progressive taxation combined with regressive expenditure
b) Regressive taxation combined with regressive expenditure
c) Progressive taxation combined with progressive expenditure
d) Regressive taxation combined with progressive expenditure
Answer »Answer: (a)
IMPORTANT INDIAN ECONOMY MCQ EXERCISES
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Top 500+ Indian Taxation System GK MCQ Quiz For SSC »
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Top 500+ Taxes Types & Budgeting Process GK MCQ Quiz PDF »
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499+ Tax Slab Types Benefits And Penalty GK MCQ Quiz PDF »
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New 499+ Indian Taxation Laws Budget Current GK MCQ Quiz »
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New 500+ Indian Income Tax Slab Laws Acts GK MCQ Quiz PDF »
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1000+ Indian Tax System Types Concepts MCQ Quiz For IBPS »
Taxes Types, Methods & Budgeting Process Shortcuts »
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INDIAN ECONOMY MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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