March 31 marks the end of the financial year and is an important date for taxpayers in India. Here’s a quiz on taxes in India and abroad.
March 31 marks the end of the financial year and is an important date for taxpayers in India. Here’s a quiz on taxes in India and abroad.
March 31 marks the end of the financial year and is an important date for taxpayers in India. Here’s a quiz on taxes in India and abroad.
1.
In the financial year of 1958-59, Jawaharlal Nehru became the first Prime Minister to present the Union Budget while also serving as the Union Finance Minister. The budget introduced a tax on items received ‘in the form of cash, draft, check or others’ in excess of ₹50,000 from one who is not associated with the donee by blood. Name this tax that was subsequently repealed in 1998.
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