DESIREIAS QUIZ

08th October Daily MCQ Based on The Hindu ( Answers)

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08th October Daily MCQ Based on The Hindu ( Answers)

Q-1 Consider the following statements
1-Mount Kilimanjaro with its three volcanic cones, “Kibo”, “Mawenzi”, and “Shira”, is a dormant volcano in Mozambique.
2- It is 2nd highest mountain in Africa
Select the correct answer using the code given below:
A- Only 1
B- Only 2
C- Both are Correct
D- None of the Above
MCQ Source -08th October – The Hindu Newspaper – Page- page-5 Topic- A.P. mountaineer scales Mt.Kilimanjaro

Ans-D

Mount Kilimanjaro with its three volcanic cones, “Kibo”, “Mawenzi”, and “Shira”, is a dormant volcano in Tanzania.
It is the highest mountain in Africa,

Q-2 Consider the following statements
1-Van Vihar National Park is a national park in west India
2- Van Vihar is unique because it allows easy access to the visitors through a road passing through the park, security of animals assured from poachers by building trenches and walls, chain-link fence and by providing natural habitat to the animals.

Select the correct answer using the code given below:
A- Only 1
B- Only 2
C- Both are Correct
D- None of the Above

MCQ Source -08th October – The Hindu Newspaper Page-6 Image
Ans-B

Van Vihar National Park is a national park in central India. It is located in Bhopal, the capital city of Madhya Pradesh.
Van Vihar is unique because it allows easy access to the visitors through a road passing through the park, security of animals assured from poachers by building trenches and walls, chain-link fence and by providing natural habitat to the animals

Q-3 Consider the following statements
1-Tipu Sultan fought Company forces four times during 1797-99, and gave Governors-General Cornwallis and Wellesley bloody noses before he was killed defending his capital Srirangapatnam in the Fourth Anglo-Mysore War.
2-Tipu reorganised his army along European lines, using new technology, including what is considered the first war rocket
3-He devised a land revenue system based on detailed surveys and classification, in which the tax was imposed directly on the peasant, and collected through salaried agents in cash, widening the state’s resource base
Select the correct answer using the code given below:
A-1,2
B-1,3
C-2,3
D-all of the above

MCQ Source -08th October – The Hindu Newspaper -Page-11 topic – Honouring the British Indian Army
Ans-C

• Tipu was the son of Haider Ali, a professional soldier who climbed the ranks in the army of the Wodeyar king of Mysore, and ultimately took power in 1761. He was born in 1750 and, as a 17-year-old, fought in the first Anglo-Mysore War (1767-69) and subsequently, against the Marathas and in the Second Anglo-Mysore War (1780-84). Haider died while this war was on, and Tipu succeeded him in 1782.
• In the wider national narrative, Tipu has so far been seen as a man of imagination and courage, a brilliant military strategist who, in a short reign of 17 years, mounted the most serious challenge the Company faced in India.
• He fought Company forces four times during 1767-99, and gave Governors-General Cornwallis and Wellesley bloody noses before he was killed defending his capital Srirangapatnam in the Fourth Anglo-Mysore War. With Tipu gone, Wellesley imposed the Subsidiary Alliance on the reinstated Wodeyar king, and Mysore became the Company’s client state.
• Tipu reorganised his army along European lines, using new technology, including what is considered the first war rocket. He devised a land revenue system based on detailed surveys and classification, in which the tax was imposed directly on the peasant, and collected through salaried agents in cash, widening the state’s resource base.
• He modernised agriculture, gave tax breaks for developing wasteland, built irrigation infrastructure and repaired old dams, and promoted agricultural manufacturing and sericulture. He built a navy to support trade, and commissioned a “state commercial corporation” to set up factories.
• As Mysore traded in sandalwood, silk, spices, rice and sulphur, some 30 trading outposts were established across Tipu’s dominions and overseas.

DESIRE IAS, [09.10.18 10:48]
Q-4 Consider the following statements about Long-Term Capital Gains Tax (LTCG)
1-A capital asset is officially defined as any kind of property held by an assessee, excluding goods held as stock-in-trade, agricultural land and personal effects.
2-If an asset is held for less than 12 months, any gain arising from selling it is treated as a short-term capital gain (STCG)
3-Only Shares enjoy a special dispensation which is, holding period of 12 months or more qualifies as ‘long-term’ in this case

Select the correct answer using the code given below:
A- Only 1,2
B- Only 1,3
C- Only 3
D- all of the Above

MCQ Source -08th October – The Hindu Newspaper ,page-13 topic- Long term capital
gains tax sop for IPOs

Ans-B

Exp-
• Any profit from the sale of a capital asset is deemed as ‘capital gains’.
• A capital asset is officially defined as any kind of property held by an assessee, excluding goods held as stock-in-trade, agricultural land and personal effects.
• If an asset is held for less than 36 months, any gain arising from selling it is treated as a short-term capital gain (STCG).
• If an asset is held for 36 months or more, any gain arising from selling it is treated as a ‘long-term’ capital gain (LTCG).
• Shares and equity mutual funds alone enjoy a special dispensation which is, holding period of 12 months or more qualifies as ‘long-term’ in this case.

Q-5 Consider the following statements about Long-Term Capital Gains Tax (LTCG)
1-Long-term capital gains arising from transfer of long-term capital assets like such as shares or share-oriented products, exceeding Rs. 1 lakh will be taxed at a concessional rate of 10%.

2- Grandfathering’ Clause is the exemption granted to existing investors or gains made by them before the new tax law comes into force

Select the correct answer using the code given below:
A- Only 1
B- Only 2
C- Both are Correct
D- None of the Above
MCQ Source -08th October – The Hindu Newspaper ,page-13 topic- Long term capital
gains tax sop for IPOs
Ans-C

• the long-term capital gains arising from transfer of long-term capital assets like such as shares or share-oriented products, exceeding Rs. 1 lakh will be taxed at a concessional rate of 10%.
• The short-term capital gains tax at 15% will continue for transfer of shares within 1 year.
• The Application – The new tax is applied if the assets are held for a minimum period of 1 year from the date of acquisition.
• Long-term capital gains will be computed by deducting the cost of acquisition from the full value of consideration on transfer of the capital asset.
• The proposed tax applies to the following types of equity capital:
1. Equity Shares in a company listed on a recognised stock exchange
2. Unit of an equity oriented fund
3. Unit of a business trust
• ‘Grandfathering’ Clause – It is the exemption granted to existing investors or gains made by them before the new tax law comes into force.
• The government said that gains from shares or equity mutual funds made till January 31, will be grandfathered/exempted. There will be no LTCG tax on notional profit in shares till then.

Q-6 Consider the following statements
1-Hybrid Annuity Model based PPP model has been adopted for the first time in the country in highway management sector.
2- HAM is a good trade-off, spreading the risk between developers and the Government. It combines EPC (40%) and BOT-Annuity (60%).
3- The annuity payment structure means that the developers aren’t taking ‘traffic risk’.

Select the correct answer using the code given below:
A- Only 1
B- Only 1,2
C- Only 1,3
D- Only 2,3

MCQ Source -08th October – The Hindu Newspaper,Page-13 topic- Learn from highways
to promote infra’

Ans-C

DESIRE IAS, [09.10.18 10:48]
HAM is a good trade-off, spreading the risk between developers and the Government. It combines EPC (40%) and BOT-Annuity (60%).
• Here, the government pitches in to finance 40 per cent of the project cost (EPC component) — a sort of viability-gap funding. This helps cut the overall debt and improves project returns.
• The annuity payment structure means that the developers aren’t taking ‘traffic risk’.
• From the Government’s perspective, it gets an opportunity to flag off road projects by investing a portion of the project cost. While it does take the traffic risk, it also earns better social returns by way of access and convenience to daily commuters.
Advantage of HAM is that it gives enough liquidity to the developer and the financial risk is shared by the government. While the private partner continues to bear the construction and maintenance risks as in the case of BOT (toll) model, he is required only to partly bear the financing risk.
Government’s policy is that the HAM will be used in stalled projects where other models are not applicable.