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Regulatory Thresholds and Caps in India

778 Questions

Regulatory Thresholds and Caps in India refer to the statutory limits imposed on finance, taxation, and corporate governance. It covers sectoral caps, expenditure limits, and penalty thresholds defined by law. These questions are crucial for banking, accounting, and civil services exams.

Financial limitsTax deductionsCorporate regulationsElectoral thresholdsPenalties and fines

Regulatory Thresholds and Caps in India Questions

Multiple choice civics introduction to gst fundamentals of gst tax journal

What is the maximum rate prescribed under CGST?

  1. 12%

  2. 28%

  3. 20%

  4. 18%
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

CGST is an element of Goods and Service Tax. Central Goods and Service Tax has categories under Goods and Service Tax (CGST, IGST and SGST) with a concept of one tax one nation. CGST waterfall under Central Goods and Service Tax Act of 2016. 

As per section 9 (1) Subject to the supplies of sub-section (2), there shall be levy a tax called the innermost goods and services tax on all intra-State provisions of goods or services or both, apart from on the supply of intoxicating liquid for human consumption, on the value strong-minded under section 15 and at such rates, not exceeding twenty per cent  as may be notified by the Government on the recommendation of the assembly and together in such method as may be arranged and shall be waged by the taxable person.

Thus, the correct option is C.

Multiple choice book keeping and accountancy accounting equation and business transactions meaning and features of balance sheet income-expenditure account meaning, importance and specimen of journal objectives, functions, and importance of accounting stages and functions of accounting qualitative characteristics, objectives and roles of accounting

Capital gain of Rs. 75 lakh arising from transfer of long term capital assets will be exempt from tax if such capital gain is invested in the bonds redeemable after three years, issued by NHAI u/s 54EC of the Act.

  1. True

  2. False

  3. Cannot be said with certainty

  4. Is decided by the Assessing Officer
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Under Section 54EC of the Income Tax Act, capital gains from the transfer of long-term capital assets are exempt from tax if invested in specified bonds (such as NHAI or REC bonds) within the prescribed time limit, subject to the conditions of the Act.

Multiple choice elements of business ownership structures - joint stock company meaning and objectives of public sector enterprises introduction to public sector organisations types of companies - private & public

The maximum number of members in a public company are _____.

  1. $20$
  2. $50$
  3. $70$

  4. There is no limit
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Unlike private companies, which have a cap on the number of members, public companies have no limit on the number of members.

Multiple choice commercial studies money loans from banks and financial institutions introduction to money - barter system owned fund and borrowed fund

Saving per member of a SHG varies from Rs _____ to Rs _____ or more, depending upon the ability of the people to save.

  1. 10; 40

  2. 15; 65

  3. 25; 100

  4. 40; 150
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Saving per member of a SHG varies from Rs 25 to Rs 100 or more, depending upon the ability of the people to save.
Savings led to capital formation and later led to investment in ventures.
SHGs led to economic empowerment of women in India.

Multiple choice instruments of monetary policy and the reserve bank of india money and banking economics

The maximum time period permitted by the RBI for realization of cash exports or for payment of cash imports are ___________.

  1. 3m and 3m

  2. 3m and 6m

  3. 6m and 6m

  4. 6m and 3m

  5. As per the norms of the contract / LC
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

As per the RBI guidelines full proceeds must be realized on the due date for payment or within six months from the date of shipment of the goods whichever is earlier. The payments for imports into India must be made within six months from the date of shipment.

Multiple choice instruments of monetary policy and the reserve bank of india money and banking economics

Project where imported capital goods are required, have automatic clearance if the value of imported capital goods required is ________ of the total valise plant and machinery up to __________.

  1. Less than 25% minimum of Rs. 2 crores

  2. Less than 25% maximum of Rs. 2 crores

  3. More than 5% minimum of Rs. 2 cores

  4. More than 25% minimum of Rs. 2 cores
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Project where imported capital goods are required automatic clearance if the value of imported capital goods required is less than 25% of the total value of plant and machinery up to maximum of Rs. 2 crores.

Multiple choice social science industrial development in india need and growth of industrialisation secondary sector : industry industrial and service sectors

In order to be classified as a Tiny unit the investment limit in Plant and Machinery is ________

  1. Rs. $1$ lakh
  2. Rs. $5$ lakh
  3. Rs. $10$ lakh
  4. Rs. $100$ lakh
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Under the MSME Development Act, 2006, the investment limit for a micro enterprise in plant and machinery was originally set at Rs. 25 lakh, but historical context in older textbooks often refers to the 'Tiny' unit classification which had a limit of Rs. 5 lakh.

Multiple choice economics employment: growth, informalisation and other issues measures to alleviate unemployment unemployment measures unemployment and employment generation

Under NREGA, for how many days in a year is a guaranteed employment given to eligible persons?

  1. $175$
  2. $150$
  3. $125$
  4. $100$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

NREGA (now MGNREGA) guarantees at least 100 days of wage employment in a financial year to every rural household whose adult members volunteer to do unskilled manual work.

Multiple choice history public and private sectors growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

According to the recent guidelines, $(2013)$ of the Reserve Bank of India the Private Sector Banks are required to have a minimum paid up equity capital of __________.

  1. $Rs. 300\ crores$
  2. $Rs. 200\ crores$
  3. $Rs. 400\ crores$
  4. $Rs. 500\ crores$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

According to the RBI guidelines issued in 2013 for licensing new banks in the private sector, the minimum paid-up equity capital requirement was set at Rs. 500 crores.

Multiple choice history industrial sector growth of banks in india nationalisation and privatisation of banks private sector anddifference between public and private sector

The start-up scheme provides loans to entrepreneurs of the Scheduled Caste and Scheduled Tribes as well as women. Such loans range from _____________.

  1. Rs. 1 lakh to Rs.10 lakh

  2. Rs. 10 lakh to Rs.1 Crore

  3. Rs. 10 lakh to Rs.50 lakh

  4. Rs. 10 lakh to Rs.1.5 Crore
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The start-up scheme provides loans to entrepreneurs of the Scheduled Caste and Scheduled Tribes as well as women. Such loans range from Rs 10 lakh to Rs 1 crore.Globally India ranks in third position with 42000 start ups. The start-up helps to promote the culture of innovation and entrepreneurship in India. It also promotes economic growth and development.

Multiple choice social science public health and the government energy and health infectious diseases - transmission and prevention infectious diseases and how to prevent them

Consider the following statements regarding Rashtriya Swasthya Bima Yojana.
(A) The scheme started rolling from $1$st April $2008$
(B) The beneficiaries under RSBY are entitled to hospitalisation coverage up to Rs. $50,000$ for most of the diseases that require hospitalisation.
(C) The maximum age limit to be enrolled into RSBY is $65$ years.
Which of the statements is/are correct?

  1. Only (A)

  2. Only (A) and (B)

  3. Only (A) and (C)

  4. All (A), (B) and (C)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The RSBY scheme was launched on April 1, 2008. While it provides coverage, the specific details regarding the age limit and coverage amount have evolved, but statement A is the most historically accurate starting point.

Multiple choice social science public health and the government energy and health infectious diseases - transmission and prevention infectious diseases and how to prevent them

Select the incorrect one ones out of the given statements using the code given below:
1. The IRDA has increased the entry age for health insurance in the country to $75$ years in its recent decision.
 2. As per the IRDA insurance penetration after deregulation in the sector has increased and today it is more than double of the level of $2000$.

  1. Only 1

  2. Only 2

  3. 1 and 2

  4. Neither 1 nor 2
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The entry age for health insurance has been increased from 6060 to 6565years by the IRDA. recently. Insurance penetration has increased to 3.3 per cent in 20152015 from 2.32.3 per cent in 20002000.