Which of the following is a non-tax revenue of the government? MCQ with Answer and Explanation

Which of the following is a non-tax revenue of the government?
A. Income tax
B. Customs duty
C. Interest receipts
D. Corporation tax
Answer: Option C
Solution (By JKSSB Mock Tests)
Non-tax revenue includes interest receipts, dividends and profits from PSUs, fees, fines, etc. Taxes like corporation tax, income tax and customs duty are tax revenues.

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Practice More Economy Set 1 Questions

Question #1
The 'Goods and Services Tax' has subsumed taxes like entry tax, which has helped reduce:
A. income tax
B. customs duty
C. check posts and barriers at state borders
D. direct tax

Correct Answer: Option C


Explanation:
Subsuming entry tax reduced state border check posts and barriers.

This question belongs to: Economy GK Economy Set 1
Question #2
The 'NACH' system is used for:
A. bulk payments such as subsidies and salary credits
B. stock trading
C. cryptocurrency
D. foreign exchange trading

Correct Answer: Option A


Explanation:
NACH is used for bulk electronic payments.

This question belongs to: Economy GK Economy Set 1
Question #3
The 'European Union' is an example of:
A. an economic union
B. a free trade area only
C. a simple customs union
D. a bilateral agreement

Correct Answer: Option A


Explanation:
The European Union is an economic union with deep integration, including common currency for many members.

This question belongs to: Economy GK Economy Set 1