Frequently Asked Income Tax Questions and Answers for Bank Exams
Income Tax Questions with Answers
Q.17 As compared to revenue deficit, fiscal deficit will always remain.
(A) Higher
(B) Lower
(C) Same
(D) All of there
Ans . A
Q.18 Who had suggested an imposition of expenditure tax in India for first time?
(A) Kalachi
(B) Kaldor
(C) R.J. Chelliah
(D) Gautam Mathur
Ans . B
Q.19 If interest payment is added to primary deficit, it is equivalent to….
(A) Budget deficit
(B) Fiscal deficit
(C) Revenue deficit
(D) Deficit financing
Ans . B
Q.20 When was the Wealth tax first introduced in India?
(A) 1948
(B) 1957
(C) 1976
(D) 1991
Ans . B
Q.21 The recommendations of Kelkar Task force is associated with?
(A) Banking
(B) Taxes
(C) Foreign Investments
(D) Business
Ans . B
Q.22 Which of the following deficit gives major contribution to total deficit of Government of India?
()A Land Revenue
(B) Budgetary Deficit
(C) Fiscal Deficit
(D) Primary Deficit
Ans . C
Q.23 Which of the following taxes duties is not under the jurisdiction of the Central Government?
(A) land revenue
(B) personal income tax
(C) corporate income tax
(D) custom duties
Ans . A
Q.24 National income is the
a) Net National Product at Market price
b) Net National product at factor coast
c) net domestic product at market price
d) net domestic product at factor cost
Ans . C
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Rajesh Bhatia
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