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QUIZ – 2016: Insights Current Affairs Quiz- 110

 Insights Current Affairs Quiz (2016)  – 110

11 May 2016


Question 1, Quiz 107, May 7th: Typo; Answer must be option ‘d’, not ‘c’.

Question 4, Quiz 107, May 7th: Answer must be option ‘c’. Both statements are incorrect. Explanation:

PIB release (click to open source): “Shri Jaitley proposed a limited period Compliance window for domestic taxpayers to declare undisclosed income or income represented in the form of any asset and clear up their past tax transgressions. This will include paying tax at 30% and surcharge at 7.5% and penalty at 7.5% (and not 45%), which is a total of 45% of the undisclosed income. Regarding income declared in these declarations, there will be no scrutiny or enquiry under the Income Tax Act or the Wealth Tax Act and the declarants will have immunity from prosecution. Immunity from Benami Transaction (Prohibition) Act, 1988 is also proposed subject to certain conditions. The surcharge levied at 7.5% of undisclosed income will be called ‘Krishi Kalyan surcharge’ which will be used for agriculture and rural economy. Government of India plan to open the window under this Income Disclosure Scheme from 1st June to 30th September, 2016 with an option to pay amount due within two months of declaration.”

Question 3, Quiz 106, May 5th: NOTA Symbol: (click to view image) The specific symbol for NOTA is a ballot paper (and not a gender neutral figure) with a black cross across it.

Question 3, Quiz 105, May 4th: According to the given explanation, answer must be option ‘b’ and not ‘c’.

Question 4, Quiz 105, May 4th: The question should have specifically mentioned, ‘central government’ and not simply ‘India’s tax-to-GDP ratio’. Hence statement 1 provides insufficient information. According to the economic survey 2015-16, India’s tax-to-GDP ratio is 16.6% (this is the overall tax-to-GDP ratio, not just the centre’s).

Note: Thanks to all Insightians for pointing out errors!

The following quiz will have 5-10 MCQs . The questions are mainly framed from The Hindu  and PIB news articles.

This quiz is intended to introduce you to concepts and certain important facts relevant to UPSC IAS civil services preliminary exam 2016. It is not a test of your knowledge. If you score less, please do not mind. Read again sources provided and try to remember better.

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The following Quiz is based on the Hindu, PIB and other news sources. It is a current events based quiz. Solving these questions will help retain both concepts and facts relevant to UPSC IAS civil services exam.

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