SECTION-4

Economics Multiple Choice Questions

 
Q71. Which of the following is not a direct tax in India?    [UKPCS (Pre) 2011]

(A) Income Tax
(B) Wealth Tax
(C) Estate duty
(D) Sales Tax

Ans:(D) Sales Tax

 

Q72. Which of the following are the indirect tax?   [BPSC (Pre) 2002]

(A) Sales tax and Income tax
(B) Income tax and Wealth tax
(C) Sales tax and Excise tax
(D) Income tax and Excise tax

Ans:(C) Sales tax and Excise tax

 

Q73. When was the Wealth tax first introduced in India?   [MPPSC (Pre) 2005]

(A) 1991
(B) 1976
(C) 1957
(D) 1948

Ans:(C) 1957

 

Q74. Chelliah committee is related to    [MPPSC (Pre) 1994 UPSC (Pre) 1995]

(A) Reforms in direct and indirect tax systems
(B) Reforms in Banking system
(C) Import-Export policy
(D) None of the above

Ans:(A) Reforms in direct and indirect tax systems

 

Q75. Service tax was introduced in India on the recommendation of    [BPSC (Pre) 2017]

(A) Kelkar Committee
(B) Raja J. Chelliah Committee
(C) Manmohan Singh Committee
(D) Yashwant Sinha Committee
(E) None of the above/More than one of the above

Ans:(B) Raja J. Chelliah Committee

 

Q76. Corporation tax    [UPSC (Pre) 1995]

(A) is levied and appropriated by the states
(B) is levied by the Union and collected and appropriated by the states
(C) is levied by the Union and shared by Union and the states
(D) is levied by the Union and belongs to it exclusively

Ans:(D) is levied by the Union and belongs to it exclusively

 

Q77. Which one of the following sets of sources of revenue belongs to the Union Government alone?     [UPPCS (Mains) 2005]

(A) Gift tax, Holding tax
(B) Sales tax, Income tax
(C) Custom duties, Corporation tax
(D) Wealth tax, Land revenue

Ans:(C) Custom duties, Corporation tax

 

Q78. Which one of the following is not related with income from corporate sector in India? [UPPCS (Mains) 2005]

(A) Fringe Benefit tax
(B) Minimum alternate tax
(C) Capital Gain tax
(D) Tax on company profit

Ans:(B) Minimum alternate tax

 

Q79. Value Added Tax was first introduced in India in   [UPPCS (Mains) 2015]

(A) 2007
(B) 2006
(C) 2005
(D) 2008

Ans:(C) 2005

 

Q80. 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.    [UPPCS (Mains) 2010]

(A) Only 1 and 2
(B) Only 2
(C) Only 2 and 3
(D) All of these

Ans:(A) Only 1 and 2

 

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Read More Sections of Indian Economy Objective Questions

Each section contains maximum 80 Questions. To practice more questions visit other sections.
 

 Indian Economy Objective Questions – Section-1

 

 Indian Economy Objective Questions – Section-2

 

 Indian Economy Objective Questions – Section-3

 

 Indian Economy Objective Questions – Section-4

 

 Indian Economy Objective Questions – Section-5

 

 Indian Economy Objective Questions – Section-6

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