Sample questions
CSE2025
Consider the following statements
Statement IIn India, income from allied agricultural activities like poultry farming and wool rearing in rural areas is exempted from any tax
Statement IIIn India, rural agricultural land is not considered a capital asset under the provisions of the Income-tax Act, 1961
Which one of the following is correct in respect of the above statements?
- A Both Statement I and Statement II are correct and Statement II explains Statement I
- B Both Statement I and Statement II are correct but Statement II does not explain Statement I
- C Statement I is correct but Statement II is not correct
- D Statement I is not correct but Statement II is correct ✓
✓ Correct answer: (D)
Economy › Public Finance & Budget
CAPF2024
Arrange the following sources of revenue of the Central Government in ascending manner in terms of percentage contribution to the total revenues of the Central Government in 2023-24
- A Union Excise Duty, Custom, Corporation Tax, GST
- B Custom, Union Excise Duty, GST, Corporation Tax
- C Custom, Union Excise Duty, Corporation Tax, GST ✓
- D Custom, GST, Union Excise Duty, Corporation Tax
✓ Correct answer: (C)
Economy › Public Finance & Budget
ESE2024
Consider the following statements
- India's Goods and Services Tax collection for the month of June 2023 reached ₹1·61 trillion, according to the Ministry of Finance
- India received its highest-ever FDI inflow of US$83·57 billion in the fiscal year 2021-2022
- The net direct tax collection in the current fiscal year has witnessed a significant growth of 16%, reaching ₹4·75 lakh crore, indicating a surge in economic activity
Which of the above statements are correct?
- A 1 and 2 only
- B 1 and 3 only
- C 2 and 3 only
- D 1, 2 and 3 ✓
✓ Correct answer: (D)
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