Tag: government and taxes

Questions Related to government and taxes

Which of these is a Direct Tax item?

social science government and taxes types of tax types of taxes government budget and taxation

  1. Customs Duty

  2. Excise Duty

  3. Service Tax

  4. Wealth Tax

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Correct Option: D

_____________ are directly incurred and paid by the person concerned. 

social science government and taxes types of tax types of taxes government budget and taxation

  1. Direct Taxes

  2. Indirect Taxes

  3. Both (a) and (b)

  4. Neither (a) nor (b)

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Correct Option: A

Indirect Taxes are imposed on __________.

social science government and taxes types of tax types of taxes government budget and taxation

  1. income /wealth of the Taxpayer

  2. purchase / sale/ manufacture of goods and Provision of Services

  3. both (a) and (b)

  4. neither (a) nor (b)

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Correct Option: B

Which is of the taxes are included in prices? 

social science government and taxes types of tax types of taxes government budget and taxation

  1. Direct

  2. Indirect

  3. Progressive

  4. Regressive

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Correct Option: B

__________ are paid by one person (Assessee / Dealer) but recovered from another person (Consumer).

social science government and taxes types of tax types of taxes government budget and taxation

  1. Direct Taxes

  2. Indirect Taxes

  3. Both (a) and (b)

  4. Neither (a) nor (b)

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Correct Option: B

Which of these is not a Direct Tax item?

social science government and taxes types of tax types of taxes government budget and taxation

  1. Customs Duty

  2. Income Tax

  3. Wealth Tax

  4. All of the above

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Correct Option: A

Find the tax which is Direct Tax among the following :

social science government and taxes types of tax types of taxes government budget and taxation

  1. Personal Income Tax

  2. Excise Duty

  3. Sales Tax

  4. Service Tax.

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Correct Option: A

Which of the following taxes have been abolished?

social science government and taxes types of tax types of taxes government budget and taxation

  1. Customs Duty

  2. Estate Duty

  3. Excise Duty

  4. Indirect Tax

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Correct Option: B

Income Tax is a tax on ______________.

social science government and taxes types of tax types of taxes government budget and taxation

  1. income of an individual or an entity

  2. wealth or assets owned by an individual or an entity

  3. specified gifts and donations

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

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Correct Option: A

Which of the following is not a feature of Direct Taxes?

social science government and taxes types of tax types of taxes government budget and taxation

  1. Progressive Rates of Tax

  2. Income -Elastic

  3. Based on honesty of Taxpayer

  4. Different tax rates for luxuries and necessities

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Correct Option: D