The 'Annual Information Statement' in income tax is: MCQ with Answer and Explanation

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The 'Annual Information Statement' in income tax is:

A. a statement of specified financial transactions

B. a bank statement

C. a statement of taxes only

D. a statement of foreign travel

Answer: Option A

Solution (By JKSSB Mock Tests)

AIS is a statement of specified financial transactions.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

In an open economy, aggregate demand is given by:

A. I + G + M

B. C + I - G

C. C + S + T

D. C + I + G + (X - M)

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Correct Answer: Option D

Explanation:
In an open economy, aggregate demand is C + I + G + (X - M).

This question belongs to: Economy GK Economy Set 1

Question #2

The base year currently used for the Consumer Price Index in India is:

A. 2016

B. 2001

C. 2012

D. 2004-05

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Correct Answer: Option C

Explanation:
The current CPI series has 2012 as the base year.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Pradhan Mantri Ujjwala Yojana' was launched by which ministry?

A. Ministry of Petroleum and Natural Gas

B. Ministry of Rural Development

C. Ministry of Health

D. Ministry of Women and Child Development

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Correct Answer: Option A

Explanation:
PMUY is implemented by the Ministry of Petroleum and Natural Gas.

This question belongs to: Economy GK Economy Set 1

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