Fiscal Policy and Monetary Policy Tnpsc Study Material, Group 1 2 2a 4, VAO Group Question

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Fiscal Policy and Monetary Policy

19.

Direct tax code had come into force from

A. 1st April , 2012 B. 1st April, 2011 C. 1st April,2010 D. 1st April, 2009

Answer : A. 1st April , 2012

20.

MAT is new tax introduced in the 1996-97 Budget.It relates to

A. Tax on marine and agricultural products exported from India B. Customs duty for aircrafts imported by Indian Airlines and Air India C. Excise duty on new type of liquor D. Facilitate taxation of zero tax companies

Answer : B. Customs duty for aircrafts imported by Indian Airlines and Air India

21.

Which of the following is a direct tax?

A. Entertainment tax B. Estate duty C. Excise duty D. Sales tax

Answer : B. Estate duty

22.

Match the following

List I	List II
a) Dutt Committee	1) Industrial Licensing
b) Wanchoo Committee	2) Direct Taxes
c) Rajamannar Committee	3) Centre-State Fiscal relations
d) Chakravarthy Committee	4) Monetary System

A. a-4,b-3,c-2,d-1 B. a-1,b-2,c-4,d-3 C. a-1,b-2,c-3,d-4 D. a-4,b-1,c-3,d-2

Answer : C. a-1,b-2,c-3,d-4

23.

Indirect tax means

A. direct relationship between tax-payer and the government B. tax base is income C. the incidence and impact are on the same person on whom tax is imposed D. there is no direct relationship between the taxpayer and the Government

Answer : D. there is no direct relationship between the taxpayer and the Government

24.

The federal form of government consists of

A. central and state government B. central, state and local government C. state and local government D. all the above

Answer : B. central, state and local government

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