51. Under which of the following taxes the total amount payable by an individual is limited by the Constitution?

1. 1. Corporation Tax

   
   
   

   2. Estate Tax

   
   
   

   3. Succession Duty

   
   
   

   4. Tax on profession, trade and callings

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: B

   N/A

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52. The Report of Vijay Kelkar Committee relates to

1. 1. Trade Reforms

   
   
   

   2. Centre-State Financial Relations

   
   
   

   3. Disinvestment in Public Sector Enterprises

   
   
   

   4. Tax Reforms

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: D

   N/A

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53. If the tax rate increases with the higher level of income, it shall be called

1. 1. Proportional Tax

   
   
   

   2. Progressive Tax

   
   
   

   3. Lump sum Tax

   
   
   

   4. Regressive Tax

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: B

   N/A

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54. Which of the following taexs/duties is NOT under the jurisdiction of the Central Government?

1. 1. Land Revenue

   
   
   

   2. Personal Income Tax

   
   
   

   3. Corporate Income Tax

   
   
   

   4. Custom Duties

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: A

   N/A

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55. VAT is imposed

1. 1. Directly on consumer

   
   
   

   2. On final stage of the production

   
   
   

   3. On first stage of the production

   
   
   

   4. On all stages between production and final sale

   
   
   

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1. View Hint View Answer Discuss in Forum

   N/A

   Correct Option: D

   N/A

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