Current Affairs Quiz 28 May 2024
Quiz-summary
0 of 5 questions completed
Questions:
- 1
- 2
- 3
- 4
- 5
Information
Current Affairs Quiz 28 May 2024 for UPSC Prelims
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Results
0 of 5 questions answered correctly
Your time:
Time has elapsed
You have reached 0 of 0 points, (0)
Categories
- Not categorized 0%
- 1
- 2
- 3
- 4
- 5
- Answered
- Review
- Question 1 of 5
1. Question
Which of the following statements is correct about Indirect Tax?
CorrectSolution: a)
Justification: The point where tax makes its effect felt is known as the impact of tax—the after effect of tax imposition. The tax which has incidence and impact at the different points is the indirect tax—the person who is hit does not bleed’ someone else bleeds. As, for example, excise, sales tax, etc., which are imposed on either the producers or the traders, but it is the general consumers who bear the burden of tax. The tax which has incidence and impact both at the same point is the direct tax—the person who is hit, the same person bleeds. As for example income tax, interest tax, etc.
IncorrectSolution: a)
Justification: The point where tax makes its effect felt is known as the impact of tax—the after effect of tax imposition. The tax which has incidence and impact at the different points is the indirect tax—the person who is hit does not bleed’ someone else bleeds. As, for example, excise, sales tax, etc., which are imposed on either the producers or the traders, but it is the general consumers who bear the burden of tax. The tax which has incidence and impact both at the same point is the direct tax—the person who is hit, the same person bleeds. As for example income tax, interest tax, etc.
- Question 2 of 5
2. Question
Which of the following countries are the members of both SAARC and BIMSTEC?
1. Myanmar
2. Maldives
3. India
4. Pakistan
5. Bangladesh
6. Nepal
Select the correct answer using the code given below:CorrectAnswer: A
SAARC (The South Asian Association for Regional Co-operation): SAARC was established with the signing
of the SAARC Charter in Dhaka on 8th December, 1985.SAARC comprises eight Member States: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
The headquarter of the SAARC Secretariat is at Kathmandu, Nepal. BIMSTEC (The Bay of Bengal Initiative
for Multi-Sectoral Technical and Economic Co-operation):The members of BIMSTEC are India, Nepal, Bangladesh, Sri Lanka and Bhutan from South Asia; with
Myanmar and Thailand from South East Asia. BIMSTIncorrectAnswer: A
SAARC (The South Asian Association for Regional Co-operation): SAARC was established with the signing
of the SAARC Charter in Dhaka on 8th December, 1985.SAARC comprises eight Member States: Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
The headquarter of the SAARC Secretariat is at Kathmandu, Nepal. BIMSTEC (The Bay of Bengal Initiative
for Multi-Sectoral Technical and Economic Co-operation):The members of BIMSTEC are India, Nepal, Bangladesh, Sri Lanka and Bhutan from South Asia; with
Myanmar and Thailand from South East Asia. BIMST - Question 3 of 5
3. Question
With reference to the Kumaon Himalayas, consider the following statements:
1. The Kumaon Himalayas extend between the Sutlej River in the west and the Kali River in the east.
2. Nanda Devi and Kamet are the highest peaks in the Kumaon Himalayas.
Which of the statements given above is/are correct?CorrectAnswer and Explanation:
Answer: (c) Both 1 and 2
Explanation:
• Statement 1 is correct. The Kumaon Himalayas extend between the Sutlej River in the west and the Kali River in the east.
• Statement 2 is correct. Nanda Devi and Kamet are the highest peaks in the Kumaon Himalayas.IncorrectAnswer and Explanation:
Answer: (c) Both 1 and 2
Explanation:
• Statement 1 is correct. The Kumaon Himalayas extend between the Sutlej River in the west and the Kali River in the east.
• Statement 2 is correct. Nanda Devi and Kamet are the highest peaks in the Kumaon Himalayas. - Question 4 of 5
4. Question
Which of the following statements is correct about the applicability of income tax provision to the sale of farm produce by farmers to traders?
(1) All-cash sales of agricultural produce by a cultivator to a trader is taxable.
(2) The cultivator and the trader must provide their Permanent Account Number (PAN) in all such transactions.
Which of the above is/are correct?CorrectSolution: d)
Justification: Statement 1 and 2: Agriculture in India is generally tax-exempt, and dealt largely by state taxes since agriculture in India is a state subject. However, the Income Tax Department has clarified that the cash sales of agricultural produce by a cultivator to a trader for less than 2 lakh rupees will not attract tax under the Income Tax Act.
A circular issued by the Department said the cultivator and the trader will also not have to provide their Permanent Account Number (PAN) or furnish Form 60. The clarification came following representations from stakeholders about the applicability of income tax provision to cash sale of farm produce by farmers to traders.IncorrectSolution: d)
Justification: Statement 1 and 2: Agriculture in India is generally tax-exempt, and dealt largely by state taxes since agriculture in India is a state subject. However, the Income Tax Department has clarified that the cash sales of agricultural produce by a cultivator to a trader for less than 2 lakh rupees will not attract tax under the Income Tax Act.
A circular issued by the Department said the cultivator and the trader will also not have to provide their Permanent Account Number (PAN) or furnish Form 60. The clarification came following representations from stakeholders about the applicability of income tax provision to cash sale of farm produce by farmers to traders. - Question 5 of 5
5. Question
Consider the following statements regarding microplastics
1. Microplastics are small plastic pieces more than five millimeters long.
2. Microplastics come from larger plastic debris that degrades into smaller and smaller pieces.
Which of the statements given above is/are correct?CorrectCorrect Answer : B
Microplastics are small plastic pieces less than five millimeters long which can be harmful to
our ocean and aquatic life. Hence, statement 1 is incorrect.IncorrectCorrect Answer : B
Microplastics are small plastic pieces less than five millimeters long which can be harmful to
our ocean and aquatic life. Hence, statement 1 is incorrect.
