Tag: social science

Questions Related to social science

Personal income tax is levied on income of ___________.

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

  1. individual only

  2. individual & hindu undivided families (HUF) only.

  3. individual, HUF, registered firms as AOP (Association of Person)

  4. individual, HUF, unregistered firm & other Association of Person (AOP)

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Correct Option: D

Estate duty was levied on _______.

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

  1. the total property

  2. the total wealth

  3. the total capital introduced in a company

  4. the total property passing to the heirs on the death of a person.

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Correct Option: D

Which of the following statement is correct with regards to tax system in India?
(i) VAT is a system of indirect taxation.
(ii) Custom duties have been cut down -since 1991
(iii) Excise duty is levied on production
(iv) Agriculture tax is a main source of direct tax.
Select the correct answer:

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

  1. (i) (ii) & (iii)

  2. (i), (ii), (iii) & (iv)

  3. (i) & (ii) only

  4. (i) & (iii) only

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Correct Option: A

Which one of the following is a capital receipt in government budget?

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

  1. Interest receipts on loans given by the Government to other parties

  2. Dividends and profits from public sector undertakings

  3. Borrowing of the Government from public

  4. Property tax receipts

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Correct Option: A
Explanation:

$Capital\ Receipts\ in\ Government\ Budget$: The main items of capital receipts are loans of the government by the public borrowings through the RBI by the sale of treasury bills, loans received from foreign governments and bodies. Main items are:
(i)  Recoveries of loans

(ii) Market borrowing and other loans
(iii) External assistance
(iv) Disinvestment.

Estate duty was introduced in India in _________.

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

  1. 1953

  2. 1960

  3. 1985

  4. 1990

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Correct Option: A

Estate duty was abolished in ______.

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

  1. 1947

  2. 1953

  3. 1990

  4. 1985

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Correct Option: D

In the second phase, the emphasis was on _______.

social science poverty : challenge facing india meaning and measurement of poverty poverty as a challenge poverty: an economic challenge for india

  1. growth

  2. poverty alleviation

  3. infrastructure

  4. all the above

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Correct Option: B

Which of the following cause(s) responsible for poverty in India?

social science poverty : challenge facing india meaning and measurement of poverty poverty as a challenge poverty: an economic challenge for india

  1. Low rate of economic development

  2. Political factors

  3. Unemployment

  4. All of above

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Correct Option: D

The share of agriculture in India's GNP is _________.

social science poverty : challenge facing india meaning and measurement of poverty poverty as a challenge poverty: an economic challenge for india

  1. 29%

  2. 50%

  3. 60%

  4. 10%

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Correct Option: A

Agricultural productivity improved in case of __________.

social science poverty : challenge facing india meaning and measurement of poverty poverty as a challenge poverty: an economic challenge for india

  1. Wheat and potatoes

  2. Green chillies and tomatoes

  3. Bajra and oilseeds

  4. all of the above

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Correct Option: A