{"id":70633,"date":"2024-04-20T10:59:56","date_gmt":"2024-04-20T10:59:56","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=70633"},"modified":"2024-04-20T10:59:56","modified_gmt":"2024-04-20T10:59:56","slug":"the-meghalaya-professions-trades-callings-and-employments-taxation-act-deals-with","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-meghalaya-professions-trades-callings-and-employments-taxation-act-deals-with\/","title":{"rendered":"The Meghalaya Professions, Trades, Callings, and Employments Taxation Act deals with:"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Tax on professionals and businesses&#8221; option2=&#8221;Vehicle taxes&#8221; option3=&#8221;Import duties&#8221; option4=&#8221;Lottery taxes&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is: a) Tax on professionals and businesses.<\/p>\n<p>The Meghalaya Professions, Trades, Callings, and Employments Taxation Act is a law that was passed in 1973. It deals with the taxation of professionals and businesses in the state of Meghalaya. The act defines a professional as &#8220;any person who carries on for gain or reward any profession, trade, calling, or employment&#8221;. It also defines a business as &#8220;any trade, commerce, manufacture, adventure, or concern in which any person is engaged for gain or reward&#8221;.<\/p>\n<p>The act imposes a tax on the income of professionals and businesses. The tax rate is progressive, with higher rates for higher incomes. The act also provides for a number of exemptions and deductions.<\/p>\n<p>The Meghalaya Professions, Trades, Callings, and Employments Taxation Act is an important source of revenue for the state government. It is also an important tool for regulating the professions and businesses in the state.<\/p>\n<p>The other options are incorrect because they do not deal with the taxation of professionals and businesses.<\/p>\n<p>Option b) Vehicle taxes are taxes that are levied on the ownership or use of vehicles.<\/p>\n<p>Option c) Import duties are taxes that are levied on goods that are imported into a country.<\/p>\n<p>Option d) Lottery taxes are taxes that are levied on the proceeds of lotteries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Tax on professionals and businesses&#8221; option2=&#8221;Vehicle taxes&#8221; option3=&#8221;Import duties&#8221; option4=&#8221;Lottery taxes&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[987],"tags":[],"class_list":["post-70633","post","type-post","status-publish","format-standard","hentry","category-meghalaya-gk-mcq","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Meghalaya Professions, Trades, Callings, and Employments Taxation Act deals with:<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-meghalaya-professions-trades-callings-and-employments-taxation-act-deals-with\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Meghalaya Professions, Trades, Callings, and Employments Taxation Act deals with:\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Tax on professionals and businesses&#8221; 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