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Economics › GST
Consider the following statements: In India, taxes on transactions in Stock exchanges and futures markets are 1. levied by the Union 2. Collected by the States Which of the statements given above is/are correct?
(a)
1 only
(b)
2 only
(c)
Both 1 and 2
(d)
Neither 1 nor 2
(A)
In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?
Service Tax
Personal Income Tax
Excise Duty
Corporation Tax
(C)
Consider the following: 1. Fringe Benefit Tax 2. Interest Tax 3. Securities Transaction Tax Which of the above is/are Direct Tax/Taxes ?
1 and 3 only
2 and 3 only
1,2 and 3
(D)
Which of the following is not a recommendation of the task force on direct taxes under the chairmanship of Dr Vijay L. Kelkar in the year 2002?
Abolition of Wealth Tax
Increase in the exemption limit of personal income to Rs 1.20 lakh for widows
Elimination of standard deduction
Exemption from tax on dividends and capital gains from the listed equity
(B)