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Indian taxation system - class-XI

Indian taxation system

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Questions

Question 1 Multiple Choice (Single Answer)

Identify the non-tax revenue from the following statement: "It refers to claim of the government on the property of a person who dies without leaving behind any legal heir or a will".

  1. Special Assessment
  2. Escheats
  3. Forfeitures
  4. Fees
Question 2 Multiple Choice (Single Answer)

Under which of the following tax system, more tax is imposed on the lower income group?

  1. Regressive
  2. Progressive
  3. Value Added Tax
  4. Proportional Tax
Question 3 Multiple Choice (Single Answer)

Which of the following tax have been abolished?

  1. Income tax
  2. Goods & service tax
  3. Gift tax
  4. Indirect tax
Question 4 Multiple Choice (Single Answer)

GST is payable on _________.

  1. sale of goods
  2. providing services
  3. both (A) and (B)
  4. manufacture of goods
Question 5 Multiple Choice (Single Answer)

 Non-Tax Revenues of the states can be increased by improving the working of the
 1. State Road Transport Corporations and the state electricity boards
2. irrigation projects and the tax collections
3. divesting the state public sector companies

  1. Only 1
  2. I and 2
  3. 1 and 3
  4. None of the above
Question 6 Multiple Choice (Single Answer)

Income tax in India is :
1. Progressive and anti-rich
2. Proportional and pro-poor
3. Regressive and anti-poor
Select the answer using the code given below:

  1. Only 1
  2. Only 2
  3. 1 and 3
  4. 1,2 and 3
Question 7 Multiple Choice (Single Answer)

Which tax is not shared by the central government with the states?

  1. Union excise duties
  2. Customs duty
  3. Income tax
  4. Estate duty
Question 8 Multiple Choice (Single Answer)

Corporate Tax is imposed by ________.

  1. state government
  2. local government
  3. central government
  4. both centre and state government
Question 9 Multiple Choice (Single Answer)

Consider the following statements and identify the right ones.
i. Central government does not have exclusive power to impose tax which is not mentioned in state or concurrent list.

ii. The constitution also provides for transferring certain tax revenues from union list to states.

  1. i only
  2. ii only
  3. both
  4. none
Question 10 Multiple Choice (Single Answer)

Aid from abroad is a _______.

  1. Tax revenue
  2. Non-tax revenue
  3. National income
  4. None
Question 11 Multiple Choice (Single Answer)

The war reparations paid by the defeated Central Powers after the First World War is a best example of _______.

  1. tax revenue
  2. non-tax revenue
  3. both A and B
  4. none of the above
Question 12 Multiple Choice (Single Answer)

The following is an example of commercial non-tax revenue ______. 

  1. Gifts and grants
  2. Fees
  3. Fines
  4. Surpluses
Question 13 Multiple Choice (Single Answer)

Non-tax revenue can be in the form of ______.

  1. currency
  2. dividend
  3. interest receipts
  4. all the above
Question 14 Multiple Choice (Single Answer)

According to 2009-10 data, the percentage contribution of non-tax revenue to the total revenue of the central and GDP was ______.

  1. 22% and 3% respectively
  2. 22% and 2% respectively
  3. 2% and 22% respectively
  4. 3% and 22% respectively
Question 15 Multiple Choice (Single Answer)

Which one of the following is a source of non-tax revenue for governments?

  1. Import duty on cars
  2. Octroi at check points on roads
  3. Entrance fee to museums
  4. Excise duty on beverages
Question 16 Multiple Choice (Single Answer)

The Indian Income Tax is ________.

  1. direct and proportional
  2. indirect and proportional
  3. direct and progressive
  4. indirect and progressive
Question 17 Multiple Choice (Single Answer)

Which of the following tax have been abolished?

  1. Custom duty
  2. Estate duty
  3. Direct tax
  4. Entertainment Tax
Question 18 Multiple Choice (Single Answer)

Presently last slab of income tax in India is ________.

  1. nil
  2. 15%
  3. 20%
  4. 30%
Question 19 Multiple Choice (Single Answer)

Which committee recommended simplification and rationalization of tax system in India?

  1. Chelliah
  2. Bhoothalingam
  3. Both (A) and (B)
  4. Hardik Patel
Question 20 Multiple Choice (Single Answer)

The incidence of taxes refers to ___________.

  1. the level and rate of taxation
  2. who ultimately bears the money burden of the tax.
  3. the growth of taxation
  4. the way in which a tax is collected.
Question 21 Multiple Choice (Single Answer)

Which of the following statement is correct about Indian tax system?

  1. Estate duty was abolished in 1995.
  2. Income tax was abolished in 1998
  3. Gift tax was abolished in 1998
  4. VAT is a system of indirect taxation adopted by all the states.
Question 22 Multiple Choice (Single Answer)

VAT was first proposed in 1999 and was implemented in ______ in some states of India.

  1. April 2000
  2. April 2002
  3. April 2005
  4. April 2006.
Question 23 Multiple Choice (Single Answer)

Corporate tax is levied on the incomes of ___________.

  1. registered companies
  2. registered companies & corporations
  3. AOP, BOI, companies & corporation
  4. none of the above
Question 24 Multiple Choice (Single Answer)

Personal income tax is levied on income of ___________.

  1. individual only
  2. individual & hindu undivided families (HUF) only.
  3. individual, HUF, registered firms as AOP (Association of Person)
  4. individual, HUF, unregistered firm & other Association of Person (AOP)
Question 25 Multiple Choice (Single Answer)

Estate duty was levied on _______.

  1. the total property
  2. the total wealth
  3. the total capital introduced in a company
  4. the total property passing to the heirs on the death of a person.
Question 26 Multiple Choice (Single Answer)

Which of the following statement is correct with regards to tax system in India?
(i) VAT is a system of indirect taxation.
(ii) Custom duties have been cut down -since 1991
(iii) Excise duty is levied on production
(iv) Agriculture tax is a main source of direct tax.
Select the correct answer:

  1. (i) (ii) & (iii)
  2. (i), (ii), (iii) & (iv)
  3. (i) & (ii) only
  4. (i) & (iii) only
Question 27 Multiple Choice (Single Answer)

Estate duty was introduced in India in _________.

  1. 1953
  2. 1960
  3. 1985
  4. 1990
Question 28 Multiple Choice (Single Answer)

Estate duty was abolished in ______.

  1. 1947
  2. 1953
  3. 1990
  4. 1985
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