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42. India's Tax Regime
1
2
3
4
5
1.
Agricultural Income Tax revenue goes to which of the following governments in India?
State Governments
Central Government
Collected by State Governments , delivered to Central Government
Collected by Central Government, delivered to State Governments
2.
Ad Valorem Tax is levied on the basis of which among the following?
Volume
Value
Production
Export
3.
Which of the following is an example of a progressive tax?
Customs duty
Sales tax
Excise duty
Income tax
4.
Which tax is levied and collected by local bodies in India?
Entertainment tax
Income tax
Corporation tax
Customs duty
5.
Which statement about Giffen goods is correct?
They follow the standard law of demand
They are luxury goods with increasing demand
They violate the law of demand with an upward-sloping demand curve
They have many close substitutes
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