Taxation System in India CDS Questions

CDS Economy

Taxation System in India MCQ Questions


7.
Income tax was first introduced in India by:
A.
Sir John Strachey
B.
Lord Macaulay
C.
Sir James Wilson
D.
James Mill
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ANSWER :
C. Sir James Wilson
8.
Which one of the following is an example of progressive taxation in India?
A.
GST charged at a uniform rate to all consumers
B.
Excise duty on manufactured goods
C.
Income tax with rising slab rates
D.
Customs duty on imported goods
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ANSWER :
C. Income tax with rising slab rates
9.
Which of the following ancient Indian texts contains references to a system of taxation?
A.
Arthashastra and Manusmriti
B.
Ashtadhyayi only
C.
Rigveda only
D.
Natyashastra only
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ANSWER :
A. Arthashastra and Manusmriti
10.
The Income Tax Law of India comprises which of the following?
A.
Only the annual Finance Act
B.
Only notifications issued by the RBI
C.
Income Tax Act, Income Tax Rules, Finance Acts, CBDT circulars and judicial pronouncements
D.
Only the Income Tax Act, 1961
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ANSWER :
C. Income Tax Act, Income Tax Rules, Finance Acts, CBDT circulars and judicial pronouncements
11.
The charging section that provides the basis of charge of income tax is:
A.
Section 10
B.
Section 2
C.
Section 80C
D.
Section 4
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ANSWER :
D. Section 4
12.
The Income Tax Act currently in force in India was enacted in the year:
A.
1947
B.
1922
C.
1860
D.
1961
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ANSWER :
D. 1961