The corporate tax rate for existing domestic companies that opted for concessional regime under Taxation Laws Amendment Act 2019 is: MCQ with Answer and Explanation

Question
The corporate tax rate for existing domestic companies that opted for concessional regime under Taxation Laws Amendment Act 2019 is:
A. 25%
B. 22%
C. 30%
D. 15%
Answer: Option B
Solution (By JKSSB Mock Tests)
The concessional corporate tax rate for existing domestic companies is 22% plus surcharge and cess.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
A Gini coefficient value close to one indicates:
A. perfect equality
B. low inflation
C. high growth
D. perfect inequality
Discuss
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Correct Answer: Option D

Explanation:
A Gini coefficient close to one indicates perfect inequality.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a feature of the Keynesian consumption function?
A. Average propensity to consume rises with income
B. Consumption is a function of current disposable income
C. Consumption is independent of income
D. Consumption depends only on the rate of interest
Discuss
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Correct Answer: Option B

Explanation:
The simple Keynesian consumption function states that current consumption depends primarily on current disposable income, with a positive marginal propensity to consume less than one.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'credit rating agency' that is a full form of CRISIL is:
A. Central Rating and Investment Services of India Limited
B. Credit Research and Investment Services of India Limited
C. Credit Rating Information Services of India Limited
D. Credit Rating and Investment Services of India Limited
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Correct Answer: Option C

Explanation:
CRISIL stands for Credit Rating Information Services of India Limited.
This question belongs to: Economy GK Economy Set 1
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