M.A. (Semester IV) (CBCS) Examination Nov/Dec-2018
Economics
TAX AND TAX CONSULTANCY
Time: 2½ Hours Max. Marks: 70
Instructions: All questions are compulsory.
Figures to the right indicate full marks.
Q.1 Choose the correct option: 14
The following is an example of commercial non-tax revenue
Gifts and Grants Fees
Fines Surpluses
Which factor has no role in the shifting of a tax?
Change in prices Elasticity of demand and supply
Nature of Demand Income of the consumer
Transfer Payments include
Old Age Pension Subsidies
Wealth Tax Corporate Income
A good tax system should ensure
Maximum social welfare Minimum social welfare
Capital formation Growth of exports
Generally, the nature of indirect tax is
Progressive Regressive
Proportional None of the above
taxes reduce income inequalities.
Progressive Proportional
Regressive Digressive
The term incidence of taxation refers to
Initial burden of the tax Final burden of the tax
Burden of tax on government None of the above
On what broad aspect of commodities are indirect taxes imposed,
Production Sales
Movement All of the above
Find the incorrect statement
In the short period, shifting of a tax is easy
In the long period shifting of a tax is easy
When supply is elastic, shifting is easy
None of the above
10) The significant characteristic of a direct tax is that
It falls on the poor
The impact and incidence is on the same person
It is regressive in nature
It is equitable
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SLR-HS-23
11) Service tax was introduced in India in
1990-91 1994-95
2000-01 2010-11
12) An increase in the direct tax means it is
Inflationary Anti-inflationary
Having no impact on price None of the above
13) The main objective of taxation is to
Raise revenue of the Government
Promote exports
Increase inequalities of income
Promote employment
14) Which of the following is not a direct tax?
Personal Income Tax Service tax
Wealth Tax Corporate Income Tax
Q.2 Write short note. (Any four) 12
Tax
Impact of tax
Capital Gain tax
Proportional tax
Budget
Q.3 Write short answer. (Any four) 16
What is forward shifting of tax?
What is Gift tax?
What is Incidence of tax?
What is E-Filling of tax?
Explain in brief indirect tax
Q.4 Write any two answers. 14
Explain in detail ability to pay principle.
Explain the procedure of budget.
Discuss the benefit principle of taxation.
Q.5 Discuss the various canons of taxation. 14
OR
What is Tax Consultancy? Explain the nature and scope of tax consultancy.