Taxation System in India NDA Questions

NDA Economics

Taxation System in India MCQ Questions


13.
Beyond a level, any increase in tax rates becomes counter-productive as it lowers tax revenue rather than in increasing it. This effect is called
A.
Fiscal cliff
B.
Laffer curve
C.
Rahn curve
D.
Wage curve
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ANSWER :
B. Laffer curve
14.
An economy being on the Laffer curve implies that any increase in tax rates would _____ the tax revenue.
A.
Slower
B.
Higher
C.
Lower
D.
Faster
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ANSWER :
C. Lower
15.
If income is less than ₹ _____ per annum taxes are not payable.
A.
2.5 lakh
B.
1.5 lakh
C.
1 lakh
D.
3 lakh
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ANSWER :
A. 2.5 lakh
16.
The government has made an initiation by making the income tax return form user friendly and easy to fill up by an individual and it is known as _____
A.
Saral
B.
Atal Pension Yojana
C.
Sukanya Samruthi Yojana
D.
None of the above
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ANSWER :
A. Saral
17.
Goods and Services Tax (GST) came into force from the midnight of 1st _____ 2017.
A.
June
B.
July
C.
August
D.
September
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ANSWER :
B. July
18.
GST is a _____ tax.
A.
Income based
B.
Mileage based
C.
Broad based
D.
Destination based
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ANSWER :
D. Destination based