1. How many of the following tax benefits are available for investors at the International Finance Services Centre (IFSC), the Gujarat International Finance Tec-City, or GIFT City?
1. 100 percent tax exemption for the 15-year block period.
2. No GST or Securities Transaction Tax (STT) on transactions made on IFSC exchanges.
3. Dividend received by non-residents from an IFSC unit taxable at a concessional rate of 10% plus applicable surcharge and cess.
4. Exemption from capital gains tax on the sale of units within GIFT City.
(a) Only one (b) Only two (c) Only three (d) All four
2. The Doctrine of State decisis relates to
(a) Parliamentary supremacy.
(b) Administrative discretion.
(c) Judicial Precedent.
(d) Principle of Natural justice.
3. How many of the following can be said to be the basis of ‘Law’?
1. Nature
2. Religion
3. Ethics
4. Reason
(a) Only one (b) Only two (c) Only three (d) All four
4. Who gave the concept of ‘Veil of Ignorance’?
(a) Karl Marx
(b) John Rawls
(c) Rosa Luxemburg
(d) Antonio Gramsci
ANSWERS
1. (c) 2. (c) 3. (d) 4. (b)
