Previous year MCQs

Economy UPPSC 2018 GS-I
Question

Direct Tax Code in India is related to which of the following?

Answer & Solution

Answer: (Detailed Solution Below)

Option C: Excise Tax

Detailed Solution:

The correct answer is “Excise Tax”.
The Direct Tax Code in India is related to Income Tax. Therefore, the answer is (b) Income Tax.

The Direct Tax Code (DTC) was proposed as a replacement for the existing Income Tax Act in India in 2009. The objective of the DTC was to simplify the tax structure and make it more efficient, transparent, and taxpayer-friendly.

The DTC covers all direct taxes, including income tax, wealth tax, and corporate tax. It aims to streamline tax administration, remove exemptions and deductions, and reduce tax rates. However, the DTC has not yet been implemented and its fate remains uncertain.

Similar Questions:

Dachigam National Park is associated with which of the following?
  1. A) Musk Deer
  2. B) Golden Oriole
  3. C) Yellow-throated Marten
  4. D) Hangul or Kashmir Stag
Open-market operations of Reserve Bank of India refer to
  1. A) trading in securities
  2. B) auctioning of Foreign Exchange
  3. C) transaction in gold
  4. D) none of the above
Inside trading is related to-
  1. A) Share market
  2. B) Horse racing
  3. C) Taxation
  4. D) International trade
Who among the following Governor Generals ridiculed congress as representing only a 'microscopic minority' of people?
  1. A) Lord Dufferin
  2. B) Lord Curzon
  3. C) Lord Minto
  4. D) Lord Lansdown
Who of the following inaugurated SAFAR (System of Air Quality and Weather Forecasting) in July 2018?
  1. A) Ravishankar Prasad
  2. B) Piyush Goyal
  3. C) Dr. Harshvardhan
  4. D) None of the above
In which of the following hills the world famous temple of Lord Venkateshwar (Tirupati) is located?
  1. A) Shevaroy
  2. B) Biligiriranga
  3. C) Javadhee
  4. D) Mallmalla
World Social Protection Report is published by
  1. A) World Bank
  2. B) World Health Organization
  3. C) International Labour Organization
  4. D) World Economics Forum
Which of the following statements in relation to Bombay Stock Exchange, is correct?
  1. A) It is the oldest stock exchange of India
  2. B) It is known by the name of Dalai Street
  3. C) It's share index is known by the name of SENSEX
  4. D) All of the-above
Who among the following was the Chairman of the First Finance Commission of India ?
  1. A) Shri. Santhanam
  2. B) Shri. K. C. Neogy
  3. C) Dr. Raj Mannar
  4. D) Shri. A. K. Chanda
Which of the following committees was set up in India for identification of BPL families in Urban Areas?
  1. A) Tendulkar Committee
  2. B) Saxena Committee
  3. C) Lakdawala Committee
  4. D) Hashim Committee
Which of the following planets may be suitable for existence of life?
  1. A) Mars
  2. B) Mercury
  3. C) Venus
  4. D) Jupitor
Who had suggested an imposition of "expenditure tax" in India for the first time?
  1. A) Kalecki
  2. B) Kaldor
  3. C) R.J. Chelliah
  4. D) Gautam Mathur