Which one of the following is the characteristics of a good tax structure?
Corporate Tax
Cannon of Simplicity
Cannon of Uncertainty
Cannon of Non-convenience
Level of compliance and tax rates are
Positively related
Negatively related
Not related
Constant
An example for indirect taxation?
Taxation on personal incomes
Taxation on corporate profits
Taxation on wealth / profits
Taxation on exports
Match the following
1) Public Good - a) Tax on imports
2) Direct Taxation - b) Public expenditure
3) Development Expenditure - c) Tax on Corporate Profits
4) Indirect Taxation - d) National Defence
1(c), 2(d), 3(a), 4(b)
1(b), 2(a), 3(c), 4(d)
1(a), 2(b),3(c),4(d)
1(d), 2(c), 3(b),4(a)
An example for Revenue expenditure.
Irrigation Projects
Hospitals
Power Projects
National Highways
Assertion:
Cannon of equity means that there should be an equitable distribution of the burden of taxes.
Reason:
A progressive tax structure based on the fact that higher income group's ability to pay more taxes would satisfy this cannon.
Assertion is correct, Reason is wrong
Assertion is wrong, Reason is correct
Both Assertion and Reason are correct
Both Assertion and Reason are wrong
What is the full form of PAN?
Primary Account Number
Permanent Account Number
Permanent Agency Number
Permanent Area Number
Union Taxes are levied by
State Government
Central Government
RBI
Panchayat
Which one of the following is an example of direct tax?
Tax on income
Customs duty
Excise duty
Sales Tax
Who is the present Finance Minister of India?
P.Chidambaram
Pranab Mukherjee
E.Ahammed
Lalu Prasad Yadav
