1.Consider the following statements about Cess 1. It is imposed as a tax on tax for a specific purpose. 2. It goes to Contingency fund of India 3. It is levied only by the central government 4. It is not shared with the states Select the correct answer using code given below
2.Consider the following statements about ‘Minimum Alternative Tax’(MAT) 1. It is a minimum tax imposed on book profit of companies 2. It is applicable to all companies including foreign companies 3. Investments by venture capital companies are excluded from the preview of MAT Which of the above statement(s) is/are correct?
3.Which of the following canons of taxation was advocated by Adam Smith? 1. Canon of equality 2. Canon of convenience 3. Canon of certainty 4. Canon of economy Select the correct answer using code given below
4.Consider the following statements 1. Corporation tax is the best example for proportional type of tax 2. Income tax is the best example for progressive type of tax 3. Toll tax is the best example for regressive type of tax Which of the above statement(s) is/are correct?
5.. Which of the following are included in the Non-Tax revenue of a central government? 1. Interest on loans 2. Fines and Penalties 3. Borrowings 4. Grants Received from External Sources 5. Dividends and profits Select the correct answer using code given below
6. Recently government introduced ‘Vivid Se Vishwas scheme’, it related:
7.Consider the following statements about Green Tax 1. It is an excise duty on environmental polluting goods. 2. Tax collected will be kept into Consolidated fund of India Which of the above statement(s) is/are the correct?
8.Which of the following is/are included in the Direct Taxes of the Central Government? 1. Corporate tax 2. Securities Transaction Tax 3. Minimum Alternative Tax 4. Property Tax 5. Equalization Levy Select the correct answer using code given below
9.Consider the following statements 1. Department of Revenue is the responsible for overseeing the public finance 2. Department of Expenditure prepares the interest rates of small saving schemes 3. Department of financial services is the responsible for PSB recapitalization Which of the above statement(s) is/are correct?
10.Which of the following are the Debt Capitals receipts of governments 1. Ways and Means Advances 2. T-bills issued by RBI 3. Provident Funds 4. Reserve funds of Railways, Posts Select the correct answer using code given below.
