Question : In India, a microfinance loan is defined as a collateral-free loan given to a household having an annual income of up to Rs______ as of October 2022.

Option 1: Rs 1 lakh

Option 2: Rs 8 lakhs

Option 3: Rs 3 lakhs

Option 4: Rs 5 lakhs

Question : Sam has an income of 9 lakh rupees yearly. Which tax slab (new regime) of India is applicable for him as per the new regime Income Tax Slab Rates FY 2021-22?

Option 1: 15%

Option 2: 20%

Option 3: 5%

Option 4: 10%

Question : As of October 2022, What is the term of the State Legislative Assembly in India as per the Indian Constitution?

Option 1: 3 years

Option 2: 5 years

Option 3: 4 years

Option 4: 7 years

Question : Which tax slab is applied in India if an Individual taxpayer’s annual taxable income is more than INR 15 lakh?

Option 1: 20%

Option 2: 30%

Option 3: 10%

Option 4: 40%

Question : How many countries share the international land border with India as of 2022?

Option 1: 5

Option 2: 7

Option 3: 8

Option 4: 6

Question : Vikas has an income of INR 2.5 lakhs. Which of the following tax slabs of India applies to him?

Option 1: 0.2

Option 2: 0.1

Option 3: 0.05

Option 4: Nil