Taxation — UPSC Prelims Previous Year Questions

Q: Which one of the following situations best reflects "Indirect Transfers" often talked about in media recently with reference to India?

Q: With reference to India's decision to levy an equalization tax of 6% on online advertisement services offered by non-resident entities, which of the following statements is/are correct? 1. It is introduced as a part of the Income Tax Act. 2. Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the 'Double Taxation Avoidance Agreements'. Select the correct answer using the code given below:

Q: Consider the following items: 1. Cereal grains hulled 2. Chicken eggs cooked 3. Fish processed and canned 4. Newspapers containing advertising material Which of the above items is/are exempted under GST (Goods and Services Tax)?

Q: What is/are the most likely advantages of implementing 'Goods and Services Tax (GST)'? 1. It will replace multiple taxes collected by multiple authorities and will thus create a single market in India. 2. It will drastically reduce the 'Current Account Deficit' of India and will enable it to increase its foreign exchange reserves. 3. It will enormously increase the growth and size of economy of India and will enable it to overtake China in the near future.

Q: The term 'Base Erosion and Profit Shifting' is sometimes seen in the news in the context of

Q: The sales tax you pay while purchasing a toothpaste is a

Q: Under which of the following circumstances may ‘capital gains’ arise? 1. When there is an increase in the sales of a product 2. When there is a natural increase in the value of the property owned 3. When you purchase a painting and there is a growth in its value due to increase in its popularity Select the correct answer using the codes given below:

Q: Which one of the following is not a feature of “Value Added Tax”?

Q: 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 ?

Q: 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 ?

Q: Consider the following : 1. Fringe Benefit Tax 2. Interest Tax 3. Securities Transaction Tax Which of the above is/are Direct Tax/Taxes ?

Q: Which one of the following is the correct statement? Service tax is a/an

Q: 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?

Q: The Kelkar proposals which were in the news recently were the

Q: Consider the following taxes: I. Corporation tax II. Customs duty III. Wealth tax IV. Excise duty Which of these is/are indirect taxes?

Q: The Standing Committee of State Finance Ministers recommended in January 2000 uniform rates across the States in respect of

Q: The Minimum Alternative Tax (MAT) was introduced in the Budget of the Government of India for the year

Q: Corporation tax