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Economy Previously Asked Questions: Public Finance (Tax)
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Economy Previously Asked Questions: Public Finance (Tax)
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25 Questions

1. The most important source of revenue for Indian Government is
2. Which one of the following is not related with income from corporate sector in India?
3. Consider the following statements. In India, Stamp duties on financial transactions are
1. Levied and collected by the state
2. Appropriated by the Union Government Which of these statement(s) is/are correct?
4. Which of the following taxes does not directly increase the price of a commodity to buyers?
5. Find the tax which is direct tax among the following.
6. Value Added Tax was first introduced in India in
7. Which one of the following is correctly matched?
8. Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct?
9. Consider the following in relation with Corporate tax.
1. Total turnover of the company
2. Profit after distribution of dividend
3. Profit before distribution of dividend
4. Capital employed in the company Which one of the above is basis of corporate tax?
10. Consider the following items.
1. Cereal grains hulled
2. Chicken eggs cooked
3. Fish processed and canned
4. Newspapers containing advertising material Which of the above item is/are exempted under GST (Goods and Service Tax)?
11. Service tax was introduced in India on the recommendation of
12. Which among the following are true for Central Sales Tax?
1. It is levied on interstate trade.
2. It is levied in the Union Territories.
3. It is levied in the SEZ. Select the correct answer from the codes given below.
13. The tax on Import and Export is known as
14. The recommendation of the Kelkar Task Force related to
15. The main source of revenue for the National Highway Authority of India is
16. Kelkar Committee, in its second report, has recommended to reduce corporate tax to
17. Which of the following is not a direct tax in India?
18. Consider the following taxes.
1. Corporation Tax
2. Customs Duty
3. Wealth Tax
4. Excise Duty Which of these is/are indirect taxes?
19. The largest sources of tax revenue to Central Government of India are
20. Who had suggested an imposition of 'expenditure tax' in India for the first time?
21. Consider the following statements. In India, taxes on transactions in Stock exchanges and Futures Markets are
1. Levied by the union
2. Collected by the States Which of the statement(s) given above is/are correct?
22. The Kelkar proposals which were
23. Consider the following actions by the government.
1. Cutting the tax rates
2. Increasing the government spending
3. Abolishing the subsidies In the context of economic recession, which of the above actions can be considered a part of the 'fiscal stimulus' package?
24. Agricultural Income Tax is assigned to the State Government by
25. Which of the following taxes is levied by the Gram Panchayats?

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