Tag: black money and tax evasion

Questions Related to black money and tax evasion

Which one of the following has NOT been a part of the land reforms programme in India?

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. Ceiling on holding

  2. Consolidation of holdings

  3. Agricultural holding tax

  4. Zamindari abolition

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Correct Option: C
Explanation:

Agricultural Holding Tax was a recommendation of the Raj Committee. The central government appointed the committee on taxation on agricultural wealth and income under the chairmanship of Dr. K.N. Raj in February 1972 to examine the question of taxation of agricultural wealth and income from all aspects. The Raj committee submitted its report in October 1972.

In NNP figure is available at market prices we will__indirect taxes and
_subsidies to the figure to get National Income of the economy:

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. Add, substract

  2. Add, divide

  3. Substract, add

  4. Substract, divide

Show answer
Correct Option: C
Explanation:
National Income at Factor Cost (NIFC):
• It is the sum of all factors of income earned by the residents of a country (Indian) both from within the country as well as abroad.
• National Income at Factor Cost = NNP at Market Price – Indirect Taxes + Subsidies
 In India, and many developing countries across the world, National Income is measured at factor cost instead of market prices. Some of the reasons for the same are lack of uniformity in taxes, goods not being printed with their prices, etc.

Custom duty is a:

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. Direct tax

  2. Indirect tax

  3. Cooperation tax

  4. Value added tax

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Correct Option: B
Explanation:

Custom Duty is a indirect tax for goods when import or export. The tax is collected by Central Board of Indirect Taxes and Customs.

Excise duty is a:

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. Direct tax

  2. Indirect tax

  3. Cooperation tax

  4. Value added tax

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Correct Option: B
Explanation:

An indirect tax is a tax which is imposed on one person and is paid partly or wholly by another party. This means that the effect or incidence of an indirect tax is not upon the party who pays the tax but on someone else. examples of indirect taxes are value added tax, excise duty, service tax. An excise duty is a type of indirect tax that is levied on the sales of particular goods. This tax is not paid directly by the customer but is passed on to the consumer by a merchant or producer of goods as a part of the price of the product.

Sources of public revenues are:

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. Tax revenues

  2. Non Tax remains

  3. Both Tax and Non-tax revenue

  4. None of the above

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Correct Option: C
Explanation:

A fund raised through the various taxes is referred to as tax revenue. The sources of public revenue consists of both Tax and Non-tax revenue.

The share of indirect taxes in gross tax revenue is in 2009-10.

civics public expenditure and public revenue black money and tax evasion meaning of tax direct taxes

  1. 59%

  2. 41%

  3. 40%

  4. none

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Correct Option: A
Explanation:

The share of indirect taxes was 60% in the fiscal year 2009-10