Agricultural income tax is a source of revenue to (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Govern ments

Agricultural income tax is a source of revenue to (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Govern ments
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Agricultural income tax is a source of revenue to - (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Governments

Description : Agricultural income tax is a source of revenue to - (1) Central Government (2) State Government (3) Local Administration (4) Centre and State Governments

Last Answer : (2) State Government Explanation: The Constitution of India allocates the taxation of agricultural income to states. Land revenue is a major source of revenue for states in India

Agricultural income tax is a source of revenue to— a. Central Government b. State Government c. Local Administration d. Centre and State Governments e. None of the above

Description : Agricultural income tax is a source of revenue to— a. Central Government b. State Government c. Local Administration d. Centre and State Governments e. None of the above

Last Answer : b. State Government

1. The largest source of tax revenue for the federal government is: a. the personal income taxb. the social security taxc. the property taxd. the sales tax

Description : 1. The largest source of tax revenue for the federal government is: a. the personal income tax b. the social security tax c. the property tax d. the sales tax

Last Answer : a. the personal income tax

If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Description : If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Last Answer : (3) low elasticity of demand Explanation: The Ramsey rule states that commodities with low elasticities of demand should be taxed at higher rates than commodities with high elasticities of demand. ... the Ramsey rule may result in a regressive taxation scheme society may view as inequitable.

If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Description : If the main objective of the government is to raise revenue, it should tax commodities with (1) high elasticity of demand (2) low elasticity of supply (3) low elasticity of demand (4) high income elasticity of demand

Last Answer : low elasticity of demand

The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax

Description : The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax

Last Answer : (3) State Excise Duty Explanation: An excise or excise tax (sometimes called an excise duty) is a type of tax charged on goods produced within the country (as opposed to customs ... paper, drugs and pharmaceuticals, alcoholic liquor, water filtration and purification devices, pan masala, etc.

The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax

Description : The duties levied on alcoholic liquors, narcotic drugs and opium come under— (1) Central Excise Duty (2) Land Revenue (3) State Excise Duty (4) General Sales Tax

Last Answer :  Central Excise Duty

Which one of the following taxes is collected and utilized by the State Governments? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties

Description : Which one of the following taxes is collected and utilized by the State Governments? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties

Last Answer : (3) Land revenue Explanation: The Constitution allocates the taxation of agricultural income to states. Lan revenue is a major source of revenue for states in India. For purpose of ... Commissioner, also known as Collector indicating his responsibility for the realization of all Government revenues.

Which one of the following taxes is collected and utilized by the State Governments ? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties

Description : Which one of the following taxes is collected and utilized by the State Governments ? (1) Personal income tax (2) Corporation tax (3) Land revenue (4) Custom duties

Last Answer : Land revenue 

Which of the following taxes is not collected by the Central Government? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Description : Which of the following taxes is not collected by the Central Government? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Last Answer : (3) Professional tax Explanation: A professional tax, also known as an occupation tax or a professional privilege lax, is a tax that a professional must pay to receive the right to practice a ... and a professional who has clients in more than one state may owe professional taxes in several states.

Which of the following taxes is not collected by the Central Government ? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Description : Which of the following taxes is not collected by the Central Government ? (1) Income tax (2) Customs duty (3) Professional tax (4) Excise duty

Last Answer : Professional tax 

Laffer curve is related to (a) Tax rate and tax revenue. (b) Aggregate tax and aggregate non-tax revenue. (c) Total tax burden and total payment burden. (d) Total income and total expenditure.

Description : Laffer curve is related to (a) Tax rate and tax revenue. (b) Aggregate tax and aggregate non-tax revenue. (c) Total tax burden and total payment burden. (d) Total income and total expenditure.

Last Answer : (c) Total tax burden and total payment burden.

Which one of the following is not included in current revenue of the Union Government? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) interest payments

Description : Which one of the following is not included in current revenue of the Union Government? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) interest payments

Last Answer : (3) Loans Explanation: Loans are not included in the current revenue of the Union Government.

Which one of the following is not included in current revenue of the Union Government ? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) Interest payments

Description : Which one of the following is not included in current revenue of the Union Government ? (1) Tax revenue (2) Non-tax revenue (3) Loans (4) Interest payments

Last Answer : Loans

Taxes are as certain as the death, because - (1) They constitute the major source of government revenue. (2) Government have no other source of revenue. (3) Most PSUs are run inefficiently. (4) Government has its own budget constraints.

Description : Taxes are as certain as the death, because - (1) They constitute the major source of government revenue. (2) Government have no other source of revenue. (3) Most PSUs are run inefficiently. (4) Government has its own budget constraints.

Last Answer : (1) They constitute the major source of government revenue. Explanation: Benjamin Franklin's utterance, "In this world nothing can be said to be certain, except death and taxes," when applied ... draws on the actual inevitability of death to highlight the difficulty in avoiding the burden of taxes.

Taxes are as certain as the death, because (1) They constitute the major source of government revenue. (2) Government have no other source of revenue. (3) Most PSUs are run inefficiently. (4) Government has its own budget constraints.

Description : Taxes are as certain as the death, because (1) They constitute the major source of government revenue. (2) Government have no other source of revenue. (3) Most PSUs are run inefficiently. (4) Government has its own budget constraints.

Last Answer : They constitute the major source of government revenue.

Which of the following sets belongs to Central tax? (1) Excise duty, Sales tax and Custom duty (2) Excise duty, Custom duly and Income tax (3) Income tax, Custom duty and House, Lax (4) Custom duty, Entertainment tax and Income tax

Description : Which of the following sets belongs to Central tax? (1) Excise duty, Sales tax and Custom duty (2) Excise duty, Custom duly and Income tax (3) Income tax, Custom duty and House, Lax (4) Custom duty, Entertainment tax and Income tax

Last Answer : (2) Excise duty, Custom duly and Income tax Explanation: The Central Indian Government that is officially named as the "Union Government" is responsible for the imposition of both direct taxes as ... and Securities Transaction Tax. The indirect taxes are: Customs Duty; Excise Duty and Service Tax.

Which of the following sets belongs to Central tax ? (1) Excise duty, Sales tax and Custom duty (2) Excise duty, Custom duty and Income tax (3) Income tax, Custom duty and House tax (4) Custom duty, Entertainment tax and Income tax

Description : Which of the following sets belongs to Central tax ? (1) Excise duty, Sales tax and Custom duty (2) Excise duty, Custom duty and Income tax (3) Income tax, Custom duty and House tax (4) Custom duty, Entertainment tax and Income tax

Last Answer : Excise duty, Custom duty and Income tax 

Agricultural Technology is hard to spread because : (1) it has to be adopted to local conditions. (2) rural people are not receptive (3) farmers are afraid to experiment on land for fear of failure. (4) all of the above

Description : Agricultural Technology is hard to spread because : (1) it has to be adopted to local conditions. (2) rural people are not receptive (3) farmers are afraid to experiment on land for fear of failure. (4) all of the above

Last Answer : (4) all of the above Explanation: There are many benefits of using technology in agriculture system, but there are also negative aspects. Technology transfer is most difficult in ... by the existing national conditions and social system, the limits of production are empirically foreseeable.

Agricultural Technology is hard to spread because : (1) it has to be adopted to local conditions. (2) rural people are not receptive (3) farmers are afraid to experiment on land for fear of failure. (4) all of the above.

Description : Agricultural Technology is hard to spread because : (1) it has to be adopted to local conditions. (2) rural people are not receptive (3) farmers are afraid to experiment on land for fear of failure. (4) all of the above.

Last Answer : all of the above.

What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT)? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Last Answer : (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. Explanation: A value added tax (VAT) is a form of consumption tax. A VAT is like a sales tax in that ... under the single tax system based primarily or exclusively on one tax, typically chosen for its special properties.

What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A single tax that replaces State taxes like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods

Description : What is Value Added Tax (VAT) ? (1) A simple, transparent, easy to pay tax imposed on consumers (2) A new initiative taken by the Government to increase the tax-burden of high income groups (3) A ... like, surcharge, turnover tax, etc. (4) A new tax to be imposed on the producers of capital goods 

Last Answer : A single tax that replaces State taxes like, surcharge, turnover tax, etc. 

The revenue stamp shall be printed ------------------ a. Security press Nasik b. Central Stamp store . c. Central Philatelic Centre

Description : The revenue stamp shall be printed ------------------ a. Security press Nasik b. Central Stamp store . c. Central Philatelic Centre

Last Answer : a. Security press Nasik

By whom is Agricultural Income Tax assigned to the State Governments? -Do You Know?

Description : By whom is Agricultural Income Tax assigned to the State Governments? -Do You Know?

Last Answer : answer:

By whom is Agricultural Income Tax assigned to the State Governments?

Description : By whom is Agricultural Income Tax assigned to the State Governments?

Last Answer : By the Constitution of India

Payment of water charges by the farmers to the govern-ment represents (1) intermediate consumption (2) final consumption (3) fixed investment (4) inventory investment

Description : Payment of water charges by the farmers to the govern-ment represents (1) intermediate consumption (2) final consumption (3) fixed investment (4) inventory investment

Last Answer : intermediate consumption

The gradation and standardization of agricultural products are conducted through (1) Food Corporation of India (2) Directorate of Marketing and Inspection (3) Indian Standards Institution (4) Central Statistical Organization

Description : The gradation and standardization of agricultural products are conducted through (1) Food Corporation of India (2) Directorate of Marketing and Inspection (3) Indian Standards Institution (4) Central Statistical Organization

Last Answer : (2) Directorate of Marketing and Inspection Explanation: The Directorate of Marketing and Inspection (DMI) is an attached Office of the Ministry of Agriculture. It was set up in the year ... country. It is entrusted with promotion of standardization and grading of agricultural and allied produce.

Which bank is called lender of the last resort? (a) Agricultural bank. (b) Industrial bank. © Commercial bank. (d) Central bank.

Description : Which bank is called lender of the last resort? (a) Agricultural bank. (b) Industrial bank. © Commercial bank. (d) Central bank.

Last Answer : (d) Central bank.

Which bank enjoys monopoly power of note issue? (a) NABARD (b) Agricultural bank © Industrial bank (d) Central bank.

Description : Which bank enjoys monopoly power of note issue? (a) NABARD (b) Agricultural bank © Industrial bank (d) Central bank.

Last Answer : (d) Central bank.

Which bank is called lender of the last resort? (a) Agricultural bank (b) Industrial bank © Commercial bank (d) Central bank

Description : Which bank is called lender of the last resort? (a) Agricultural bank (b) Industrial bank © Commercial bank (d) Central bank

Last Answer : (d) Central bank

The gradation and standardisation of agricultural products are conducted through (1) Food Corporation of India (2) Directorate of Marketing and Inspection (3) Indian Standards Institution (4) Central Statistical Organisation

Description : The gradation and standardisation of agricultural products are conducted through (1) Food Corporation of India (2) Directorate of Marketing and Inspection (3) Indian Standards Institution (4) Central Statistical Organisation

Last Answer : Directorate of Marketing and Inspection

The Cash Reserve Ratio is a tool of : (1) Monetary policy (2) Tax policy (3) Agricultural policy (4) Fiscal policy

Description : The Cash Reserve Ratio is a tool of : (1) Monetary policy (2) Tax policy (3) Agricultural policy (4) Fiscal policy

Last Answer : (1) Monetary policy Explanation: Cash Reserve Ratio (CRR) is a specified minimum fraction of the total deposits of customers, which commercial banks have to hold as reserves either in cash or as ... CRR is a crucial monetary policy tool and is used for controlling money supply in an economy.

The Cash Reserve Ratio is a tool of : (1) Monetary policy (2) Tax policy (3) Agricultural policy (4) Fiscal policy

Description : The Cash Reserve Ratio is a tool of : (1) Monetary policy (2) Tax policy (3) Agricultural policy (4) Fiscal policy 

Last Answer : Monetary policy

)The government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into - (1) codification of tax laws (2) the entire structure of tax laws including the question of imposition of bank tax (3) the concerns of the foreign investors in India with regard to taxation matters (4) aspects of generation of black money, its transfer abroad and bringing back such money into India's legitimate financial system

Description : )The government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into - (1) codification of tax laws (2) the entire structure of tax ... generation of black money, its transfer abroad and bringing back such money into India's legitimate financial system

Last Answer : (4) aspects of generation of black money, its transfer abroad and bringing back such money into India's legitimate financial system Explanation: The Central Board of Direct Taxes (CBDT) ... steps to prevent generation of illicit funds through transactions in property, bullion and equity market.

The government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into – (1) codification of tax laws (2) the entire structure of tax laws including the question of imposition of bank tax (3) the concerns of the foreign investors in India with regard to taxation matters (4) aspects of generation of black money, its transfer abroad and bringing back such money into India’s legitimate financial system

Description : The government set up a committee headed by the Chairman, Central Board of Direct Taxes some time back to go into - (1) codification of tax laws (2) the entire structure of tax ... generation of black money, its transfer abroad and bringing back such money into India's legitimate financial system

Last Answer : aspects of generation of black money, its transfer abroad and bringing back such money into India’s legitimate financial system

Buoyancy of a tax is defined as - (1) percentage increase in tax revenue/ percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage

Description : Buoyancy of a tax is defined as - (1) percentage increase in tax revenue/ percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage

Last Answer : (3) increase in tax revenue/increase in tax base Explanation: Buoyancy means the growth/increase in tax collections. This is in line with the GDP growth within the economy, the industry profile and the tax ... rate and in the tax base in relation to the GDP is termed the buoyancy of the tax system.

The difference between the GNP and the NNP is equal to the - (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation

Description : The difference between the GNP and the NNP is equal to the - (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation

Last Answer : (4) capital depreciation Explanation: Depreciation refers to two very different but related concepts: the decrease in value of assets (fair value depreciation), and the allocation of the cost of ... equal to capital depreciation. It is the wearing out, breaking down, or technological obsolescence.

The major objective of monetary policy is to - (1) increase government's tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy

Description : The major objective of monetary policy is to - (1) increase government's tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy

Last Answer : (3) Promote economic growth with price stability Explanation: The main objective of monetary policy is to control the supply of money, often targeting an inflation rate or interest rate ... usually to contribute to lower unemployment, and to maintain predictable exchange rates with other currencies.

The tax levied on gross sales revenue from business transactions is called - (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Description : The tax levied on gross sales revenue from business transactions is called - (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Last Answer : (1) Turnover Tax Explanation: A turnover tax is similar to a sales tax or a VAT, with the difference that it taxes intermediate and possibly capital goods. It is charged on gross ... turnover tax is levied on all intermediate transactions between businesses leading to and including the final sale.

Okun’s law shows the relationship between the following : (a) Unemployment and Growth (b) Employment and Growth (c) Tax rate and Tax revenue (d) Inflation and Employment

Description : Okun’s law shows the relationship between the following : (a) Unemployment and Growth (b) Employment and Growth (c) Tax rate and Tax revenue (d) Inflation and Employment

Last Answer : (a) Unemployment and Growth

The major objective of monetary policy is to (1) increase government’s tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy

Description : The major objective of monetary policy is to (1) increase government’s tax revenue (2) revamp the Public Distribution System (3) Promote economic growth with price stability (4) weed out corruption in the economy 

Last Answer : Promote economic growth with price stability

The tax levied on gross sales revenue from business transactions is called (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax

Description : The tax levied on gross sales revenue from business transactions is called (1) Turnover Tax (2) Sales Tax (3) Capital Gains Tax (4) Corporation Tax 

Last Answer : Turnover Tax

Buoyancy of a tax is defined as (1) percentage increase in tax revenue/percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage

Description : Buoyancy of a tax is defined as (1) percentage increase in tax revenue/percentage increase in tax base (2) increase in tax revenue/ percentage increase in tax coverage (3) increase in tax revenue/increase in tax base (4) percentage increase in tax revenue/ increase in tax coverage

Last Answer :  increase in tax revenue/increase in tax base

The difference between the GNP and the NNP is equal to the (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation

Description : The difference between the GNP and the NNP is equal to the (1) consumer expenditure on durable goods (2) direct tax revenue (3) indirect tax revenue (4) capital depreciation

Last Answer : capital depreciation

An increase in per capital income is not an indication of an increase in the economic welfare of the people - (1) When such increase is the result of an increased production action of comforts (2) When such increase is the result of an increase in agricultural production (3) When it is the result of an increase in the production of industrial goods (4) When such increase is the result of increased production of intoxicants

Description : An increase in per capital income is not an indication of an increase in the economic welfare of the people - (1) When such increase is the result of an increased production action of ... the production of industrial goods (4) When such increase is the result of increased production of intoxicants

Last Answer : (4) When such increase is the result of increased production of intoxicants Explanation: An increase in per capita income due to increased production of intoxicants cannot be taken as economic ... population, include: GDP, literacy, access to health care, and assessments of environmental quality.

In India agricultural income is calculated by (a) Income method (b) Output method © Expenditure method (d) None of them.

Description : In India agricultural income is calculated by (a) Income method (b) Output method © Expenditure method (d) None of them.

Last Answer : (b) Output method

Which sector contributes largest to India’s national income? (a) Agricultural sector (b) Manufacturing sector © Service sector (d) Small scale industry.

Description : Which sector contributes largest to India’s national income? (a) Agricultural sector (b) Manufacturing sector © Service sector (d) Small scale industry.

Last Answer : © Service sector

An increase in per capital income is not an indication of an increase in the economic welfare of the people (1) When such increase is the result of an increased production of comforts (2) When such increase is the result of an increase in agricultural production (3) When it is the result of an increase in the production of industrial goods (4) When such increase is the result of increased production of intoxicants

Description : An increase in per capital income is not an indication of an increase in the economic welfare of the people (1) When such increase is the result of an increased production of comforts ( ... production of industrial goods (4) When such increase is the result of increased production of intoxicants 

Last Answer : When such increase is the result of increased production of intoxicants

Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Description : Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Last Answer : (1) there is not direct relationship between the tax payer and the government. Explanation: The term indirect tax has more than one meaning. In the colloquial sense, an indirect tax (such as ... which is collected directly by government from the persons (legal or natural) on which it is imposed.

Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Description : Indirect tax means : (1) there is not direct relationship between the tax payer and the government. (2) direct relationship between tax payer and the government. (3) tax base is income (4) the incidence and impact are on the same person on whom tax is imposed.

Last Answer : there is not direct relationship between the tax payer and the government.