Sources of revenue TNPSC Group 2 2A Questions

Indian Economy

Sources of revenue MCQ Questions

1.
In India, Income Tax wasintroduced for the first timein __________ by Sir James Wilson in order to meet the losses sustained by the Government on account of the Mutiny of 1857.
A.
1857
B.
1858
C.
1859
D.
1860
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ANSWER :
D. 1860
2.
__________ tax is charged on the benefits derived from property ownership.
A.
Income tax
B.
Wealth tax
C.
Corporate tax
D.
Excise duty
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ANSWER :
B. Wealth tax
3.
What are identified as causes of black money?
A.
Shortage of goods
B.
High tax rate
C.
Smuggling
D.
All of above
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ANSWER :
D. All of above
4.
Tax evasion is the illegal evasion of taxes by
A.
Individuals
B.
Corporations
C.
Trusts
D.
All of the above
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ANSWER :
D. All of the above
5.
Payments are
A.
Fees and fines
B.
Penalities and forfeitures
C.
None of the above
D.
a and b
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ANSWER :
D. a and b
6.
Which is the role of government and development policies?.
A.
Defence
B.
Foreign policy
C.
Regulate the economy
D.
all of above
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ANSWER :
D. all of above