Government and Taxes | Economics | Social Science
10th Social Science : Economics : Chapter 4 : Government and Taxes - One Mark Questions and Answers
Chapter: 10th Social Science : Economics : Chapter 4 : Government and Taxes
I. Choose the correct answer
1. The three levels of governments in India are
a) Union, state and local
b) Central, state and village
c) Union, municipality and panchayat
d) None of the above
2. In India, taxes are including
a) Direct taxes
b) Indirect taxes.
c) Both (a) and (b)
d) None of these
3. Which is the role of government and development policies?
a) Defence
b) Foreign policy
c) Regulate the economy
d) all of above
4. The most common and important tax levied on an individual in India is
a) Service tax
b) Excise duty.
c) Income tax
d) Central sales tax
5. Under which tax one nation, one uniform tax is ensured
a) Value added tax (VAT)
b) Income tax
c) Goods and service tax
d) Sales tax
6. Income tax was introduced in india for the first time in the year __________ .
a) 1860
b) 1870
c) 1880
d) 1850
7. __________ tax is charged on the benefits derived from property ownership.
a) Income tax
b) Wealth tax
c) Corporate tax
d) Excise duty
8. What are identified as causes of black money?
a) Shortage of goods
b) High tax rate
c) Smuggling
d) All of above
II. Fill in the blanks
1. Tax is levied by government for the development of the state’s economy.
2. The origin of the word ‘tax’ is from the word Taxation.
3. The burden of the Direct tax cannot be shifted to others.
4. The Goods and Service Tax act came into effect on 1 July 2017.
5. The unaccounted money that is concealed from the tax administrator is called Black Money.
III. Choose the correct statement
1. Which of the following statement is correct about GST?
i) GST is the ‘one point tax’.
ii) This aims to replace all direct taxes levied on goods and services by the Central and State governments.
iii) It will be implemented from 1 July 2017 throughout the country.
iv) It will unified the tax structure in India.
a) (i) and (ii) are correct
b) (ii), (iii) and (iv) are correct
c) (i), (iii) and (iv) are correct
d) All are correct
IV. Match the following
First, try to match the items in Column A with the items in Column B. Then, click below to check your answers.
Click to see the answers
1. Income Tax - Direct tax
2. Excise duty - Indirect tax
3. VAT - Value added tax
4. GST - 1 July 2017
5. Black money - Smuggling