Multiple choice

Read the passage and fill up the blank with the most appropriate option.

Read the passage and fill up the blank.

“Between the year 1946 and the year 1955, I did not file any income tax returns.” With that ____(5)____ statement, Ramesh embarked on an account of his encounter with the Income Tax Department. “I originally owed Rs. 20,000 in unpaid taxes. With ____(6)______ and ____(7)_____, the 20,000 became 60,000. The income Tax Department then went into action, and I learned first hand just how much power the Tax Department wields. Royalties and trust funds can be _____(8)_____; automobiles may be ____(9)_____, and auctioned off. Nothing belongs to the ____(10)____ until the case is settled.”

  1. Sanctions

  2. Refunds

  3. Fees

  4. Fines

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

On the reading the statement we understand that the amount is increasing and an amount can only be increased by accruing funds which can be done by levying “Interests” and imposing “fines”. Hence answers are (1) & (4).