Taxation and Types of Taxes
Trending Questions
Q.
What was an old regime?
Q.
What is manorial dues?
Q. If the financial year is 2017-18, the assessment year will be ________.
- 2018-19
- 2015-16
- 2016-17
- 2017-18
Q.
GST in India has replaced all
direct
VAT
none of the above
indirect
Q. The financial year in India runs from:
- April 1 to March 31
- July 1 to June 31
- Jan 1 to Dec 31
- Oct 1 to Sep 31
Q. Income tax and wealth tax are a form of ___ (direct/indirect) tax.
- direct
- indirect tax
Q. Which of these is a Direct tax?
- VAT
- GST
- Excise duty
- Customs Duty
Q.
Which estate paid taxes out of all three estates in French revolution?
Q.
What was the tax levied by the state called?
Q.
(i) For different types of investments what is the maximum permissible amount under section 80C of income tax ?
(ii) A person has earned his income during the financial year 2017-18. Then his assessment year is ....
Write the correct alternative answer for each of the following quesitons.
(i) For different types of investments what is the maximum permissible amount under section 80C of income tax ?
(A) 1, 50, 000 rupees (B) 2, 50, 000 rupees (C) 1, 00, 000 rupees (D) 2, 00, 000rupees
(ii) A person has earned his income during the financial year 2017-18. Then his assessment year is ....
(A) 2016-17 (B) 2018-19 (C) 2017-18 (D) 2015-16
Q.
Who Owned The Majority Of Land In Eighteenth-century France?
Q. Financial year in India is from 1st March to 28th February.
- True
- False
Q. Which of the following taxes is/are NOT shared by the Central Government with the states?
- Customs duty
- Union excise duty
- Both (a) and (b)
- Corporate tax
Q. Assertion :Preference shares capital is a more costly source of finance than debentures for profit-earning companies. Reason: Preference dividend is not a charge against profit under the Income Tax Act.
- Both Assertion and Reason are correct and Reason is the correct explanation for Assertion
- Both Assertion and Reason are correct but Reason is not the correct explanation for Assertion
- Assertion is correct but Reason is incorrect
- Assertion is incorrect but Reason is correct.
Q. Which of the following statement is correct about GST?
(i) GST is the ‘one point tax’.
(ii) This aims to replace all direct taxes levied on goods and services by the Central and State governments.
(iii) It will be implemented from 1 July 2017 through out the country.
(iv) It will unified the tax structure in India.
(i) GST is the ‘one point tax’.
(ii) This aims to replace all direct taxes levied on goods and services by the Central and State governments.
(iii) It will be implemented from 1 July 2017 through out the country.
(iv) It will unified the tax structure in India.
- (i) and (ii) are correct
- (ii), (iii) and (iv) are correct
- (i), (iii) and (iv) are correct
- All are correct
Q. Income Tax in India was introduced in the year:
- 1860
- 1960
- 1880
- 1947
Q. What does the letter P denote in the term 'PAN', which is issued by the Income Tax Department?
- Provisional
- Personal
- Permanent
- Private
Q. If final good attracts an excise duty of Rs. 8000 and Rs. 1000 has already been paid on inputs then the firm will pay the Rs. 7, 000 towards excise duty. It is paying tax according to________.
- VAT
- CENVAT
- MODVAT
- None of the above
Q. is an Indirect tax.
- Income tax
- Central Sales tax
- Custom duty
- Wealth tax
Q. Financial year is a period of one year during which taxable income has been earned.
- True
- False
Q. When did Aurangzeb reimposed Zaziya?
- 1680
- 1679
- 1688
- 1690
Q. ________ is not a Direct Tax.
- Wealth Tax
- Income Tax
- Gift Tax
- Entertainment Tax
Q. The members of which estate had to pay taxes?
Q. Which one of the following sources of Central revenue belongs to the category of Indirect taxes?
- Corporation tax
- Customs
- Wealth tax
- Interest Receipts
Q. Which of these is not a utility of taxes?
- Maintaining law and order
- Foreign relations
- Defense
- Provision of basic amenities
Q. Which of these is not a type of Tax in Indian Taxation System?
- GST
- Income tax
- Custom Duty
- Royal tax
Q. Which of these is an indirect tax?
- Wealth tax
- GST
- Income tax
- Professional tax