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Taxes in India mcq questions and answers for competitive exams

Ramya_naidu

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Taxes in India mcq questions and answers for competitive exams UPSC SSC , SSC CGL, SSC CHSL, upsc Civils , Entrance exams Online test practice online free Quiz, mock practice online
151.
For a person suffering from severe physical disability, deduction available under section 80U is Rs

a
Rs. 25,000
b
Rs.50,000
c
Rs.75,000
d
Rs.1,00,000
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152.
Securities transaction tax paid by the seller of shares and units shall

a
Be allowed as deduction as expenses of transfer
b
Not be allowed as deduction
c
All of these
d
None of these
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153.
What is 'STT'?

a
Standard Transfer tax
b
Securities Transfer tax
c
Standard Transaction Tax
d
Securities Transaction tax
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154.
Ambitious anti-offshore tax evasion and black money detection agreement between USA and India is known as -

a
AML
b
KYC
c
SLBC
d
FATCA
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155.
The cost inflation index number of the P.Yr.2008-09 is :

a
577
b
580
c
582
d
586
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156.
Any person who has made default in complying with the provisions of Income Tax Act, 1961 is known as

a
Custom Assessee
b
Assessee in default
c
Deemed Assessee
d
None of the above
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157.
Fiscal deficit in the Union Budget means

a
the sum of monetized deficit and budgetary deficit
b
net increase in Union Governments borrowings from the Reserve Bank of India
c
the sum of budgetary deficit and net increase in internal and external borrowings
d
the difference between current expenditure and current revenue
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158.
Due date of payment of service tax for the month/quarter ending 31st March is:

a
1 st March
b
31 st March
c
5th day of the month immediately following March
d
None of the above
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159.
The annual yield from which of the following Union Government taxes is the highest?

a
Custom duties
b
Excise duties
c
Corporation tax and income tax
d
Inheritance tax, wealth tax, interest tax and gift tax
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