The 'Form 26AS' is an income tax document that shows: MCQ with Answer and Explanation

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The 'Form 26AS' is an income tax document that shows:

A. salary only

B. tax deducted and deposited against PAN

C. bank statements

D. stock holdings

Answer: Option B

Solution (By JKSSB Mock Tests)

Form 26AS shows tax deducted and deposited against a PAN.

This question belongs to: Economy GK Economy Set 1

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Question #1

Regional Rural Banks are sponsored by:

A. State governments only

B. scheduled commercial banks

C. RBI only

D. NABARD only

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Correct Answer: Option B

Explanation:
Regional Rural Banks are sponsored by scheduled commercial banks along with central and state governments.

This question belongs to: Economy GK Economy Set 1

Question #2

The largest installed renewable energy source in India by capacity in recent years is:

A. small hydro

B. wind

C. solar

D. biomass

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Correct Answer: Option C

Explanation:
Solar power has become the largest renewable energy source by installed capacity in India.

This question belongs to: Economy GK Economy Set 1

Question #3

In the context of demand theory, the law of demand may not hold for:

A. Giffen goods and Veblen goods

B. Necessary goods with elastic demand

C. Normal goods

D. All inferior goods without exception

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Correct Answer: Option A

Explanation:
Giffen goods (strong negative income effect) and Veblen goods (prestige value rising with price) are exceptions to the law of demand.

This question belongs to: Economy GK Economy Set 1

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