Previous year MCQs

Economy UPPSC 1997 GS-I
Question

Which one of the following is different from the others from the point of view of Tax relief to individuals:

Answer & Solution

Answer: (Detailed Solution Below)

Option C: Indira Vikas Patra

Detailed Solution:

The correct answer is “Indira Vikas Patra”.
National Savings Certificate (NSC), Public Provident Fund (PPF), and National Savings Scheme (NSS) are all eligible for tax deductions under Section 80C of the Income Tax Act. Indira Vikas Patra (IVP), on the other hand, does not offer any tax benefits. The interest earned on IVP is fully taxable.

Similar Questions:

Match List-I with List-II and select the correct answer from the code given below:
List-I - List-II

A. Akbar - 1. Sarak-I-Azam
B. Mohammad Tughlaq - 2. Chahalghani nobles
C. Iltutmish - 3. Ain-I-Dahsala
D. Sher Shah - 4. Token currency

Code:
A B C D
  1. A) 1 2 3 4
  2. B) 3 4 2 1
  3. C) 2 3 1 4
  4. D) 4 1 3 2
The earliest specimen of "Kavya" style is found in the inscription of?
  1. A) Rudradaman of Kathiawar
  2. B) Ashok
  3. C) Rajendra I
  4. D) None of the above
Base year for estimation of Gross Domestic Product at constant prices in India, at present, is
  1. A) 1999-2000
  2. B) 2000-2001
  3. C) 2002-2003
  4. D) 2006-2007 2011-12
Who among the following was not present in the founding session of the Indian National Congress?
  1. A) Dadabhai Nauroji
  2. B) G. Subramaniya Iyer
  3. C) Justice Ranade
  4. D) Surendra Nath Banerjee
Ardhanarisvara, a figure of half Siva and half Parvati, represents:
  1. A) Union of male and-female
  2. B) Union of god and goddess
  3. C) Union of god with his Shakti
  4. D) None of the above
Given below are two statements, one is labelled as Assertion (A) and the other as Reason (R).

Assertion (A): The labour force participation rate failing sharply in the recent years for females in India.
Reason (R): The decline in labour force participation rate is due to the improved family income and increase in education.

Select the correct answer from codes given below:
Codes:
  1. A) Both (A) and (R) are true and (R) is the correct explanation of (A)
  2. B) Both (A) and (R) are true and (R) is not the correct explanation of (A)
  3. C) (A) is true, but (R) is false
  4. D) (A) is false, but (R) is true
Balance of payment is defined as:
  1. A) The value of exports minus the value of imports
  2. B) The difference between the liabilities and assets of a firm
  3. C) The difference between current expenditure and current revenue in the government budget
  4. D) Complete record of all economic transactions between the residents of a country and rest of the world
What is meant by a Bullock–Capitalist?
  1. A) Farmers who are poor
  2. B) Farmers who are rich
  3. C) Farmers who have some resources but are not rich
  4. D) Farmers who are big Zamindars
Vembanad Lake is in:
  1. A) Andhra Pradesh
  2. B) Kerala
  3. C) Orissa
  4. D) Tamil Nadu
Assertion (A): By 1750 the Maratha kingdom had become a Confederacy presided over by the Peshwa. Reason (R): The successors of Sahu depended on the will of the Peshwa.
  1. A) Both A and R are true and R is the correct explanation of A
  2. B) Both A and R are true but R is not the correct explanation of A
  3. C) A is true but R is false
  4. D) A is false but R is true
Which among the following products is not usually exported from India?
  1. A) Wheat
  2. B) Rice
  3. C) Sugar
  4. D) Pulses
The "Eco Mark" Scheme was launched in 1991 to encourage consumers to buy products of less harmful environment impact. Which one of the following consumer products is not notified under this Scheme?
  1. A) Soaps and Detergents
  2. B) Paper and Plastics
  3. C) Cosmetics and Aerosols
  4. D) Drugs and Antibiotics