Tag: civics

Quizzes (292) Questions (3031)

Questions Related to civics

Multiple choice civics direct taxes black money and tax evasion meaning of tax public revenue : direct and indirect taxes income tax

If a firm produces goods with Rs. 10,000 and the cost of raw materials is Rs. 10,000 and the firm will pay tax on Rs. 4000. It is paying tax according to:

  1. VAT

  2. CENVAT

  3. MODVAT

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The firm is paying tax according to the VAT system. VAT stands for Value Added Tax, which is a type of tax that is assessed incrementally, based on the increase in value of a product or service at each stage of production or distribution. 

Multiple choice civics direct taxes black money and tax evasion meaning of tax public revenue : direct and indirect taxes income tax

For computing income from self occupied house properly (constructed after $1\cdot 4\cdot 1999$), maximum amount of deduction on account of interest on borrowings cannot exceed _______________.

  1. Rs. $1,00,000$
  2. Rs. $1,50,000$
  3. Rs. $2,50,000$
  4. Rs. $3,00,000$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

For self-occupied property constructed after April 1, 1999, the maximum deduction for interest on housing loans is Rs 1,50,000 (though this limit has been increased in recent years, 1.5 lakh is the historical standard for this specific question context).

Multiple choice civics direct taxes black money and tax evasion meaning of tax public revenue : direct and indirect taxes income tax

In case of annuity, the average after tax profits are ___________.

  1. equal to any year's profits

  2. more than any year's profits

  3. less than any year's profits

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

An annuity involves a series of equal payments at regular intervals. Therefore, the average after-tax profit is equal to the profit of any individual year.

Multiple choice civics women empowerment womens economic empowerment dynamic of human development social development

The sex ratio favours females in ______.

  1. Orissa

  2. Maharastra

  3. Kerala

  4. Andhra pradesh
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Sex ratio is used to describe the number of females per 1000 of males. In the Population Census of 2011 it was revealed that the population ratio in India 2011 is 943 females per 1000 of males. The Sex Ratio 2011 shows an upward trend from the census 2001 data. As per the Census 2011, Kerala has 1084 females per thousand males.

Multiple choice civics women empowerment womens economic empowerment dynamic of human development social development

Kasturba Gandhi Education Scheme is related to _____.

  1. girl education

  2. adult education

  3. child labour

  4. woman empowerment
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Kasturba Gandhi Balika Vidyalaya scheme was introduced by the Government of India in August 2004, then integrated in the Sarva Shiksha Abhiyan program, to provide educational facilities for girls belonging to Scheduled Castes, Scheduled Tribes, Other Backward Classes, minority communities and families below the poverty line in Educationally Backward Blocks.