Q.31)-Corporation tax is a tax imposed on-
- The net incomes of the companies
- The corporate properties
- The utilities provided by the corporation
- Tax imposed by the corporation on individual properties
Q.32)-The duties on alcohalic liquors,narcotic drugs and opium come under-
- Central Excise Duty
- Land Revenue
- State Excise Duty
- General Sales Tax
Q.33)-Parallel economy emerges due to-
- Tax Avoidance
- Tax Evasion
- Tax Compliance
- Tax Estimation
Q.34)-A tax is characterised by horizontal equility if its liability is-
- Proportional to the income of tax payers
- Similar for tax payers in similar circumstances
- Propotional to the expenditure of tax payer
- The same for every tax payer
Q.35)-Which authority recommends the principles governing the grants in aid of the revenues of the states out of the Consolidated Fund of India?
- Public Accounts Committee
- Union Ministry of Finance
- Finance Commission
- Inter-state Council
Q.36)-Buoyancy of a tax is defined as-
- Percentage increase in tax revenue/percentage increase in tax base
- Increase in tax revenue/percentage increase in tax coverage
- Increase in tax revenue/increase in tax base
- Percentage increase in tax revenue/increase in tax coverage
Q.37)-Which one of the following is not an example of indirect tax?
- Sales Tax
- Excise Duty
- Customs Duty
- Expenditure Tax
Q.38)- 'Quota' is-
- Tax levied on imports
- Imports of capital goods
- Limit on the quantity of imports
- Limit of the quantity of exports
Q.39)-Which is the biggest tax paying sector in India?
- Agriculture sector
- Industrial sector
- Transport sector
- Banking sector
Q.40)-The incidence of tax refers to-
- Who pays the tax
- Who bears the burden of tax
- How bears the burden of tax
- Who transfers the tax burden
