Tag: government budget and taxation

Questions Related to government budget and taxation

Indirect Taxes are imposed on __________.

social science government and taxes types of tax types of taxes government budget and taxation

  1. income /wealth of the Taxpayer

  2. purchase / sale/ manufacture of goods and Provision of Services

  3. both (a) and (b)

  4. neither (a) nor (b)

Show answer
Correct Option: B

Which is of the taxes are included in prices? 

social science government and taxes types of tax types of taxes government budget and taxation

  1. Direct

  2. Indirect

  3. Progressive

  4. Regressive

Show answer
Correct Option: B

__________ are paid by one person (Assessee / Dealer) but recovered from another person (Consumer).

social science government and taxes types of tax types of taxes government budget and taxation

  1. Direct Taxes

  2. Indirect Taxes

  3. Both (a) and (b)

  4. Neither (a) nor (b)

Show answer
Correct Option: B

Which of these is not a Direct Tax item?

social science government and taxes types of tax types of taxes government budget and taxation

  1. Customs Duty

  2. Income Tax

  3. Wealth Tax

  4. All of the above

Show answer
Correct Option: A

Find the tax which is Direct Tax among the following :

social science government and taxes types of tax types of taxes government budget and taxation

  1. Personal Income Tax

  2. Excise Duty

  3. Sales Tax

  4. Service Tax.

Show answer
Correct Option: A

Which of the following taxes have been abolished?

social science government and taxes types of tax types of taxes government budget and taxation

  1. Customs Duty

  2. Estate Duty

  3. Excise Duty

  4. Indirect Tax

Show answer
Correct Option: B

Income Tax is a tax on ______________.

social science government and taxes types of tax types of taxes government budget and taxation

  1. income of an individual or an entity

  2. wealth or assets owned by an individual or an entity

  3. specified gifts and donations

  4. total property passing to the heirs on the death of a person.

Show answer
Correct Option: A

Which of the following is not a feature of Direct Taxes?

social science government and taxes types of tax types of taxes government budget and taxation

  1. Progressive Rates of Tax

  2. Income -Elastic

  3. Based on honesty of Taxpayer

  4. Different tax rates for luxuries and necessities

Show answer
Correct Option: D

Which of the following is not a direct tax?

social science government and taxes types of tax types of taxes government budget and taxation

  1. Gift tax

  2. Wealth Tax

  3. Sales tax

  4. Estate duty

Show answer
Correct Option: C

High Rate of Indirect Taxes on goods like narcotics, tobacco and liquor, serve ____________ by discouraging their consumption.

social science government and taxes types of tax types of taxes government budget and taxation

  1. revenue purpose

  2. tax purpose

  3. social purpose

  4. economic purpose

Show answer
Correct Option: C