UPSC PRELIMINARY MOCK TEST 65
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Question 61 [CLICK ON ANY CHOICE TO KNOW MCQ multiple objective type questions RIGHT ANSWER]
- It is the new cryptocurrency launched by Google.
- Libra is built on blockchain Technology used by bitcoin and other cryptocurrencies.
- Cryptocurrencies ensure anonymity of the users and security of the transactions.
1, 2, 3
Facebook has announced a digital currency called Libra that will roll out for use in 2020 and allow the platform's billions of users across the globe to make financial transactions online.
It is a digital asset built by Facebook and powered by a new Facebook-created version of blockchain, the encrypted technology used by bitcoin and other cryptocurrencies.
Cryptocurrencies enable transfer of money between parties, without going through a banking system. These digital payment systems are based on cryptographic proof of the chain of transactions, deriving their name, Cryptocurrency. These employ cryptographic algorithms and functions to ensure anonymity (privacy) of the users (who are identified by an alphanumeric public key), security of the transactions and integrity of the payment systems.
Question 62 [CLICK ON ANY CHOICE TO KNOW MCQ multiple objective type questions RIGHT ANSWER]
Pampas of Argentina
Velds of South Africa
Canterbury plains of New Zealand
Campos of Brazilian Highlands
Extensive Commercial grain cultivation type of agriculture is best developed in Eurasian steppes, the Canadian and American Prairies, the Pampas of Argentina, the Velds of South Africa, the Australian Downs and the Canterbury Plains of New Zealand. "
Question 63 [CLICK ON ANY CHOICE TO KNOW MCQ multiple objective type questions RIGHT ANSWER]
The inaugural IONS Seminar was held by the Indian Navy in 2008.
Malaysia is one of it's permanent member countries
Symposium has been formed to increase the maritime capabilities of nation against piracy.
Both b and c
Option b is incorrect. Malaysia is an observer country along with China, Germany, Japan, Madagascar, Russia and Spain.
Option c is incorrect. Symposium has not been formed to fight piracy. It has been formed to strengthen the capability of all littoral nation-states of the Indian Ocean to address present and anticipated challenges to maritime security and stability. Relevance- The Indian Navy will be joining the People's Liberation Army (PLA) Navy in a maiden maritime search and rescue exercise, chaired by Bangladesh at the Indian Ocean Naval Symposium (IONS) in November this year.
Question 64 [CLICK ON ANY CHOICE TO KNOW MCQ multiple objective type questions RIGHT ANSWER]
when the number of unemployed labour exceeds employed labour in an industry
due to the paradox of simultaneous existence of high unemployment and skilled labour
when additional labour do not contribute to the output
when there are job vacancies in an industry despite producing full output
Question 65 [CLICK ON ANY CHOICE TO KNOW MCQ multiple objective type questions RIGHT ANSWER]
- Only a domestic company is liable to pay this tax.
- Even a company that is not liable to pay any tax on its income has to pay the dividend distribution tax.
Dividend income from shares and MFs will be now be taxable in the hands of the recipient - instead of the company of MF house - at applicable income tax rates.
dividend distribution tax is a surrogate tax and it obstructs the flow of foreign direct investment. Therefore, doing away with this tax can give a major push to investment.
The abolition of this tax can also boost market sentiment and make Indian equities more attractive.
The clamour had been growing for the abolition of DDT ever since the corporate tax cut in September. The task force on the direct tax code had also recommended scrapping this tax in order to boost investments.
Domestic companies at present are subject to DDT at 15 per cent of the aggregate dividend declared, distributed or paid. As it also includes a 12 per cent surcharge and a 3 per cent education cess, the effective DDT rate comes to 20.35 per cent.
A dividend is the sum that a company pays its shareholders from the profits it earns, and DDT is the tax levied on that dividend. Only a domestic company is liable to pay this tax. Even a company that is not liable to pay any tax on its income has to pay the dividend distribution tax.
The tax on dividends is a triple levy. Dividend basically means the distribution of a company's after-tax profits. The tax paid by a company is the first level. DDT is the second level. The recently-introduced Super Rich Dividend Tax - the 10% tax on anyone who earns dividend income of Rs 10 lakh or above - is the third.
DDT applies to mutual funds as well. Because fund houses deduct DDT at source, dividends from MF schemes are tax-free for shareholders.
The DDT for debt funds is 25% for individuals and 30% for corporates. For equity MFs, the rate is 10% (along with surcharge and cess, it comes to 11.648%).
DDT was introduced for more efficient dividend tax collection from companies rather than shareholders.