Tag: social science

Questions Related to social science

The revenue generated by the government through internal and external loans is ___________.

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. capital receipts

  2. non-tax revenue

  3. private revenue

  4. public revenue

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Correct Option: A
Explanation:
  • The budget consists of capital receipts and capital payments. The capital receipts are loans raised by the Government from the general public and the foreign governments.

Which one of the following is a source of non-tax revenue for governments?

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. Import duty on cars

  2. Octroi at check points on roads

  3. Entrance fee to museums

  4. Excise duty on beverages

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Correct Option: C
Explanation:

Non-tax revenue is collected by the government from other sources, except through taxation, The sources of non-tax revenue(NTR) are:
(i) Fees and charges for various facilities like museums, license offices, etc
(ii) Dividend/profits from public sector units (PSUs)
(iii) Income from radio/TV broadcasting, etc

The Indian Income Tax is ________.

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. direct and proportional

  2. indirect and proportional

  3. direct and progressive

  4. indirect and progressive

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Correct Option: C

Which of the following tax have been abolished?

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. Custom duty

  2. Estate duty

  3. Direct tax

  4. Entertainment Tax

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Correct Option: B

Presently last slab of income tax in India is ________.

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. nil

  2. 15%

  3. 20%

  4. 30%

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Correct Option: D

Which committee recommended simplification and rationalization of tax system in India?

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. Chelliah

  2. Bhoothalingam

  3. Both (A) and (B)

  4. Hardik Patel

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Correct Option: C

The incidence of taxes refers to ___________.

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. the level and rate of taxation

  2. who ultimately bears the money burden of the tax.

  3. the growth of taxation

  4. the way in which a tax is collected.

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Correct Option: B

Which of the following statement is correct about Indian tax system?

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. Estate duty was abolished in 1995.

  2. Income tax was abolished in 1998

  3. Gift tax was abolished in 1998

  4. VAT is a system of indirect taxation adopted by all the states.

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Correct Option: C

VAT was first proposed in 1999 and was implemented in ______ in some states of India.

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. April 2000

  2. April 2002

  3. April 2005

  4. April 2006.

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Correct Option: C

Corporate tax is levied on the incomes of ___________.

social science government budget and taxation indian taxation system taxation : need, principles and importance tax and its importance

  1. registered companies

  2. registered companies & corporations

  3. AOP, BOI, companies & corporation

  4. none of the above

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Correct Option: B