41. Which of the following commission set up by the President of India decides the distribution of tax incomes between the Central and State Governments?

1. 1. Central Law Commission

   
   
   

   2. Pays Commission for Government Employees

   
   
   

   3. Administrative Reform Commission

   
   
   

   4. Finance Commission

   
   
   

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   N/A

   Correct Option: D

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42. Which is the tax that is imposed by the Central Government of India but its revenue is divided between Centre and States?

1. 1. Custorm Duty

   
   
   

   2. Central Excise Duty

   
   
   

   3. Corporation Tax

   
   
   

   4. None of these

   
   
   

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   N/A

   Correct Option: B

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43. Service Tax was introduced in India for the first time in the year

1. 1. 1980-81

   
   
   

   2. 1990-91

   
   
   

   3. 1991-92

   
   
   

   4. 1994-95

   
   
   

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   N/A

   Correct Option: D

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44. Which of the following taxes sis NOT levied by the Union Government?

1. 1. Customs

   
   
   

   2. Corporate Tax

   
   
   

   3. Land Revenue

   
   
   

   4. Income Tax

   
   
   

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   N/A

   Correct Option: C

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45. The amount of which of the following reflects the overall budgetary position of the Government of India at a given time.

1. 1. Revenue Deficit

   
   
   

   2. Total Amount of income tax collected

   
   
   

   3. Capital Deficit

   
   
   

   4. Fiscal Deficit

   
   
   

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   N/A

   Correct Option: D

   N/A

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