Tax And Its Importance Fill in the blanks Set 02

Tax And Its Importance

Fill in the blanks Set 02

1....................... is the amount of money paid to the government.
Ans: Tax
 
2. One who earns above tax exemption limit has to pay ...................... tax.
Ans: Income
 
3. .................. Tax is levied when movable goods are sold or bought within the country.
Ans: Sales
 
4. tax is derived from the Latin word .................
Ans: Taxo
 
5. Tax has been considered as the ........................... of the civilization.
Ans: Building Block
 
6. The individual tax prayer directly pays the tax to the ...................
Ans: Central Government
 
7. One who earns above the prescribed tax exemption limit has to pay .....................
Ans: Income Tax
 
8. TDS means ........................
Ans: Tax Deduction at Source
 
9. VAT means ......................
Ans: Value Added Tax
 
10. CENVAT means ......................
Ans: Central Value Added Tax
 
11. Tax levied by the government on the profit of a company is called ..................
Ans: Corporate Tax
 
12. The Tax paid on the inherited property left by a dead man is called ....................
Ans: Estate Duty
 
13. The Finance Act of 1994 categorised the ........................ under indirect tax.
Ans: Service Tax