The 'self-assessment tax' is paid by a taxpayer: MCQ with Answer and Explanation

Question

Share Report Error

The 'self-assessment tax' is paid by a taxpayer:

A. by employer only

B. after assessment by the department

C. only after a notice

D. on the basis of self-computation before filing return

Answer: Option D

Solution (By JKSSB Mock Tests)

Self-assessment tax is computed and paid by the taxpayer before filing return.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The concept of 'Seigniorage' is most closely related to:

A. Tax revenue from income tax

B. Interest payments on public debt

C. The real resources obtained by the government through the issue of base money

D. Revenue from disinvestment

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Seigniorage is the purchasing power that the government obtains by issuing base money; it equals the real value of the increase in base money.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'poverty line' in India was historically based on a minimum calorie requirement of:

A. 3000 kcal per person per day

B. 2400 kcal rural and 2100 kcal urban per person per day

C. 1200 kcal per person per day

D. 1800 kcal per person per day

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
The poverty line used calorie norms of 2400 kcal rural and 2100 kcal urban.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'replacement level fertility' is generally considered to be about how many children per woman?

A. 4.0

B. 1.0

C. 2.1

D. 3.0

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option C

Explanation:
Replacement level fertility is about 2.1 children per woman.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs