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Sources of Revenue

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

Answer : D. 1860

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2. 

__________ tax is charged on the benefits derived from property ownership.

A. Income tax B. Wealth tax C. Corporate tax D. Excise duty

Answer : B. Wealth tax

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3. 

What are identified as causes of black money?

A. Shortage of goods B. High tax rate C. Smuggling D. All of above

Answer : D. All of above

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4. 

Tax evasion is the illegal evasion of taxes by

A. Individuals B. Corporations C. Trusts D. All of the above

Answer : D. All of the above

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5. 

Payments are

A. Fees and fines B. Penalities and forfeitures C. None of the above D. a and b

Answer : D. a and b

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6. 

Which is the role of government and development policies?.

A. Defence B. Foreign policy C. Regulate the economy D. all of above

Answer : D. all of above

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