286: Under which of the following circumstances may 'capital gains' arise?
1. When there is an increase in the sales of a product
2. When there is a natural increase in the value of the property owned
3. When you purchase a painting and there is a growth in its value due to increase in its popularity
Select the correct answer using the codes given below :
(a) 1 only
(b) 2 and 3 only
(c) 2 only
(d) 1, 2 and 3
287: Which one of the following statements correctly describes the meaning of legal tender money ?
(a) The money which is tendered in courts of law to defray the fee of legal cases
(b) The money which a creditor is under compulsion to accept in settlement of his claims
(c) The bank money in the form of cheques, drafts, bills of exchange, etc.
(d) The metallic money in circulation in a country
288: Which one of the following statements regarding the levying, collecting and distribution of Income Tax is correct ?
(a) The Union levies, collects and distributes the proceeds of income tax between itself and the States
(b) The Union levies, collects and keeps all the proceeds of income tax to itself
(c) The Union levies and collects the tax but all the proceeds are distributed among the States
(d) Only the surcharge levied on income tax is shared between the Union and the States
289: The Employment Guarantee Scheme, a rural work programme, was first started in
(a) West Bengal
(b) Punjab
(c) Kerala
(d) Maharashtra
290: Which of the following pairs of states and their important crops are correctly matched ?
I. Kerala : Tapioca
II. Maharashtra : Cotton
III. W. Bengal : Jute
IV. Gujarat : Groundnut
Select the correct answer using the codes given below :
Codes :
(a) I, II and III
(b) I, II and IV
(c) I, III and IV
(d) II, III and IV