taxation Archives - MCQ and Quiz for Exams

1. The committee which has recommended abolition of Tax Rebates under Section â 88 of the Income Tax Act of India, is

Chelliah Committee

Kelkar Committee

Shome Committee

Rangrajan Committee

Detailed SolutionThe committee which has recommended abolition of Tax Rebates under Section â 88 of the Income Tax Act of India, is

2. The sales tax you pay while purchasing a toothpaste is a

tax imposed by the Central Government

tax imposed by the Centra Government but collected by the State Government

tax imposed by the Stat Government but collected by the Central Government

tax imposed and collected by the State Government

Detailed SolutionThe sales tax you pay while purchasing a toothpaste is a

3. According to Budget 2021-22, pensioners (senior citizen) over ____ of age are exempted from filing returns.

65 years

70 years

75 years

80 years

Detailed SolutionAccording to Budget 2021-22, pensioners (senior citizen) over ____ of age are exempted from filing returns.

4. Agriculture income tax in India can be levied by

State Governments

Central Governments

Local Governments

Central and State Governments

Detailed SolutionAgriculture income tax in India can be levied by

5. CENVAT is related with

Custom Duties

Value Added Tax

Union Excise Duties

Central Sales Tax

Detailed SolutionCENVAT is related with

6. Which of the following taxes are abolished by the Goods and Services Tax ?

Property Tax

Corporation Tax

Value Added Tax

Income Tax

Detailed SolutionWhich of the following taxes are abolished by the Goods and Services Tax ?

7. What kind of Tax System is found in India ?

Progressive

Degressive

Proportional

Regressive

Detailed SolutionWhat kind of Tax System is found in India ?

8. Which one of the following has been the most important source of the tax revenue of the Union Government in 2009-10 ?

Service Tax

Union Excise Duties

Corporation Tax

Income Tax

Detailed SolutionWhich one of the following has been the most important source of the tax revenue of the Union Government in 2009-10 ?

9. From which of the following taxes, the government of Uttarakhand has received the highest tax revenue in recent years ?

SGST

Excise Duty

Stamps Duty

Land Revenue

Detailed SolutionFrom which of the following taxes, the government of Uttarakhand has received the highest tax revenue in recent years ?

10. The provision as to ‘exchange of money’ has been provided under which of the following sections of T.P. Act ?

Section 118

Section 119

Section 121

None of the above

Detailed SolutionThe provision as to ‘exchange of money’ has been provided under which of the following sections of T.P. Act ?

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