Current Affairs
QUESTION 421Which combination correctly describes Category 1 of FAST-DS? / FAST-DS की Category 1 का सही संयोजन कौन-सा है?
A. Up to ₹1 crore; total outgo 60% / ₹1 crore तक; कुल भुगतान 60%B. Up to ₹5 crore; total outgo 10% / ₹5 crore तक; कुल भुगतान 10%C. Up to ₹10 crore; no tax / ₹10 crore तक; कोई tax नहींD. Up to ₹50 lakh; total outgo 100% / ₹50 lakh तक; कुल भुगतान 100%
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Answer: A
Category 1 covers undisclosed foreign income or assets up to ₹1 crore, with 30% tax and an additional 30%, producing a 60% total outgo. / Category 1 ₹1 crore तक की undisclosed foreign income या assets पर लागू होती है, जिसमें 30% tax और 30% additional amount मिलाकर total outgo 60% होता है।
CBDT administers which type of taxes? / CBDT किस प्रकार के tax laws का administration करता है?
A. Direct tax laws / प्रत्यक्ष कर कानूनB. Indirect tax laws only / केवल अप्रत्यक्ष कर कानूनC. Customs only / केवल सीमा शुल्कD. State GST only / केवल राज्य GST
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Answer: A
CBDT administers India's direct tax laws. / CBDT भारत के direct tax laws का administration करता है।
What is the statutory basis of CBDT? / CBDT का statutory basis क्या है?
A. Income Tax Act, 1961B. Central Board of Revenue Act, 1963C. Finance Act, 1950D. Companies Act, 2013
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Answer: B
The supplied notes identify the Central Board of Revenue Act, 1963 as CBDT's statutory basis. / दिए गए notes में Central Board of Revenue Act, 1963 को CBDT का statutory basis बताया गया है।
CBDT comes under which ministry? / CBDT किस मंत्रालय के अंतर्गत आता है?
A. Ministry of Commerce and Industry / वाणिज्य और उद्योग मंत्रालयB. Ministry of Corporate Affairs / कॉर्पोरेट कार्य मंत्रालयC. Ministry of Finance / वित्त मंत्रालयD. Ministry of Home Affairs / गृह मंत्रालय
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Answer: C
CBDT functions under the Department of Revenue in the Ministry of Finance. / CBDT, Ministry of Finance के Department of Revenue के अंतर्गत कार्य करता है।
CBDT functions under which department? / CBDT किस department के अंतर्गत कार्य करता है?
A. Department of Expenditure / व्यय विभागB. Department of Revenue / राजस्व विभागC. Department of Economic Affairs / आर्थिक मामलों का विभागD. Department of Financial Services / वित्तीय सेवा विभाग
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Answer: B
CBDT works under the Department of Revenue. / CBDT, Department of Revenue के अंतर्गत कार्य करता है।
The Black Money Act primarily deals with what? / Black Money Act मुख्य रूप से किससे संबंधित है?
A. Domestic GST evasion / घरेलू GST चोरीB. Undisclosed foreign income and foreign assets of Indian residents / भारतीय निवासियों की अघोषित विदेशी आय और विदेशी संपत्तिC. Agricultural income / कृषि आयD. Cryptocurrency only / केवल cryptocurrency
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Answer: B
The Act deals with undisclosed foreign income and foreign assets of Indian residents. / यह Act Indian residents की undisclosed foreign income और foreign assets से संबंधित है।
The Black Money Act mentioned in the notes was enacted in which year? / Notes में उल्लिखित Black Money Act किस वर्ष का है?
A. 2013B. 2014C. 2015D. 2016
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Answer: C
Its full title is the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. / इसका पूरा नाम Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 है।
Assets representing proceeds of crime under which Act are excluded from FAST-DS? / किस Act के तहत proceeds of crime मानी जाने वाली assets FAST-DS से बाहर हैं?
A. Companies Act, 2013B. Prevention of Money Laundering Act, 2002C. Income Tax Act, 1961D. FEMA, 1999
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Answer: B
Assets representing proceeds of crime under the Prevention of Money Laundering Act, 2002 are excluded. / Prevention of Money Laundering Act, 2002 के तहत proceeds of crime मानी जाने वाली assets scheme से बाहर हैं।
What interest applies to delayed payment under FAST-DS? / FAST-DS में delayed payment पर कितना interest लगता है?
A. 0.5% per month compound interestB. 1% per month simple interestC. 2% per month simple interestD. 12% per annum compound interest
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Answer: B
Delayed payment attracts simple interest at 1% per month. / Delayed payment पर 1% प्रति माह simple interest लगता है।
What is the maximum extension allowed for payment? / Payment के लिए अधिकतम extension कितना है?
A. Two months / दो महीनेB. Three months / तीन महीनेC. Four months / चार महीनेD. Six months / छह महीने
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Answer: C
The maximum extension specified in the notes is four months. / Notes में maximum extension चार महीने बताया गया है।
Payment under FAST-DS must generally be completed within how long after the tax authority's order? / Tax authority के order के बाद FAST-DS का payment सामान्यतः कितने समय में करना होगा?
A. One month / एक महीनाB. Two months / दो महीनेC. Three months / तीन महीनेD. Six months / छह महीने
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Answer: B
Payment generally has to be completed within two months of the tax authority's order. / Tax authority के order के दो महीने के भीतर सामान्यतः payment पूरा करना होगा।
Eligible declarants under FAST-DS may receive immunity from what? / FAST-DS के पात्र declarants को किससे immunity मिल सकती है?
A. Specified penalties and prosecution / निर्धारित penalties और prosecutionB. All future taxes / सभी भविष्य के taxesC. Bank loans / बैंक loansD. Customs duties only / केवल customs duties
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Answer: A
Eligible declarants can receive immunity from specified penalties and prosecution. / पात्र declarants को specified penalties और prosecution से immunity मिल सकती है।
What is the fee under Category 2? / Category 2 के तहत fee कितनी है?
A. ₹25,000B. ₹50,000C. ₹1 lakhD. ₹5 lakh
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Answer: C
The specified fee under Category 2 is ₹1 lakh. / Category 2 में निर्धारित fee ₹1 lakh है।
Category 2 applies to certain foreign assets valued up to what amount? / Category 2 कुछ foreign assets पर कितनी value तक लागू होती है?
A. ₹1 croreB. ₹2 croreC. ₹5 croreD. ₹10 crore
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Answer: C
Category 2 covers certain specified foreign assets valued up to ₹5 crore. / Category 2 कुछ specified foreign assets पर लागू होती है जिनकी value ₹5 crore तक है।
What is the total outgo under Category 1? / Category 1 में कुल भुगतान कितना है?
A. 30%B. 40%C. 50%D. 60%
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Answer: D
The 30% tax plus an additional 30% amount results in a total outgo of 60%. / 30% tax और 30% additional amount मिलाकर total outgo 60% होता है।
What additional amount is payable in lieu of penalty under Category 1? / Category 1 में penalty के बदले कितनी अतिरिक्त राशि देनी होती है?
A. 10%B. 20%C. 30%D. 50%
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Answer: C
An additional 30% amount is payable in lieu of penalty. / Penalty के बदले 30% अतिरिक्त राशि देनी होती है।
What is the tax rate under Category 1 of FAST-DS? / FAST-DS की Category 1 में tax rate कितना है?
A. 10%B. 20%C. 30%D. 60%
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Answer: C
Category 1 specifies a tax of 30%. / Category 1 में 30% tax निर्धारित है।
Category 1 of FAST-DS applies to undisclosed foreign income or assets up to what amount? / FAST-DS की Category 1 कितनी राशि तक की undisclosed foreign income या assets पर लागू होती है?
A. ₹25 lakhB. ₹50 lakhC. ₹1 croreD. ₹5 crore
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Answer: C
Category 1 applies to undisclosed foreign income or assets up to ₹1 crore. / Category 1 ₹1 crore तक की undisclosed foreign income या assets पर लागू होती है।
What is the valuation date under FAST-DS? / FAST-DS के तहत valuation date क्या है?
A. 31 March 2025 / 31 मार्च 2025B. 31 March 2026 / 31 मार्च 2026C. 31 July 2026 / 31 जुलाई 2026D. 16 August 2026 / 16 अगस्त 2026
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Answer: B
The specified valuation date is 31 March 2026. / Scheme में valuation date 31 मार्च 2026 निर्धारित की गई है।
What is the last date for declaration under FAST-DS 2026? / FAST-DS 2026 के तहत declaration की अंतिम तारीख क्या है?
A. 30 September 2026 / 30 सितंबर 2026B. 31 October 2026 / 31 अक्टूबर 2026C. 30 November 2026 / 30 नवंबर 2026D. 31 December 2026 / 31 दिसंबर 2026
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Answer: D
Eligible declarations under FAST-DS can be made until 31 December 2026. / FAST-DS के तहत eligible declarations की अंतिम तारीख 31 दिसंबर 2026 है।
