Which operation has been launched by the Income Tax Department (ITD) to track deposits post demonetisation? ?->(Show Answer!)

1. Which operation has been launched by the Income Tax Department (ITD) to track deposits post demonetisation?

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MCQ-> Read the following passage carefully and answer the questions based on it. Some words have been printed in bold to help you locate them while answering some of the questions.Notwithstanding the fact that the share of household savings to GDS is showing decline, still this segment is the significant contributor to GDS with 70% share. Indian households are among the most frugal in the world However, commensurate capital formation has not been taking place as a lion's share of household savings are being parked in physical assets compared to financial assets. The pattern of disposition of saving is an important factor in determining how the saved amount is utilized for productive purposes. The proportion of household saving in financial assets determines the channelisation of saving for investment in other sectors of the economy. However, the volume of investment of saving in physical assets determines the productivity and generation of income in that sector itself. Post-Independence era has witnessed a significant shift in deployment of household savings especially the share of financial assets increased from 26.39% in 1950 to 54.05% in 1990 may be on account of increased bank branch network across the country coupled with improved awareness of investors on various financial / banking products. However, contrast to common expectations, the share of financial assets in total household savings has come down from 54.05% to 50.21% especially in post reform period i.e. 1990 to 2010 despite providing easy access and availability of banking facilities compared to earlier years. The increased share of physical assets over financial assets (around 4%) during the last two decades is a cause of concern requires focused attention to arrest the trend. Traditionally, the Indians are risk-averse and prefer to invest surplus funds in physical assets such as Gold, Silver and lands. Nevertheless, considerable share of savings also owing to financial assets, which includes, Currency, Bank Deposits, Claims on Government, Contractual Savings, Equities The composition of household financial savings shows that the bank deposits (44%) continue to remain the major contributor along with the rise in the Contractual Savings, Claims on Government and Currency. Though there was gradual decline in currency holdings by the households i.e. 13.79% in 1970s to 9.30% in 2007, still the present currency holding level with households appears to be on high side compared to other countries. The primary reasons for higher currency holdings could be absence of banking facilities in majority villages (5.70 lakh villages)as well as hoarding of unaccounted money in the form of cash to circumvent tax laws. Though, cash is treated as financial asset, in reality, a major portion of currency is blocked and become unproductive. Bank deposits seemed to be the preferred choice mainly on account of its inbuilt features such as Safety, Security and Liquidity. Traditionally, the Household sector has been playing a leading role in the landscape of bank deposits followed by the Government sector. However, the last two decades has witnessed significant shift in ownership of Bank deposits. While there was improvement in Corporate and Government sectors' share by 8.30% and 7.20% respectively during the period 1999 to 2009, household sector lost a share of 13.30% in the post reform period. In the post independence era, Indian financial system was characterized by poor infrastructure and low level of financial deepening. Savings in physical assets constituted the largest portion of the savings compared to the financial assets in the initial years of the planning periods. While rural households were keen on acquiring farm assets, the portfolio of urban households constituted consumer durables, gold, jewellery and house property.Despite the fact that the household savings have been gradually moving from physical assets to financial assets over the years, still 49.79% of household savings are wrapped in unproductive physical assets, which is a cause of concern as the share of physical assets to total savings are very high in the recent years compared to emerging economies. This trend needs to be arrested as scarce funds are being diverted into unproductive segments. Of course, investment in Real estate sector can be treated as productive provided construction activity is commenced within reasonable time, but it is regrettably note that many investors just buy and hold it for speculation leading to unproductive investments. India has probably the largest fascination with gold than any other country in the world with a share of 9.50% of the world's total gold holdings. The World Gold Council believes that they are over 18000 tonnes of gold holding in the country. More impressive is the fact that current demand from India alone consumes 25% of the world's annual gold output. Large amount of capital is blocked in gold which resides in bank lockers and remain unproductive. Indian economy would grow faster if the capital markets could attract more of the nation's savings and channel them into more productive areas, especially infrastructure. If the Indian market can develop and evolve into a more mature financial system, which persuades the middle class to put more of its money into equities, the potential is mind-boggling.Which of the following statement (s) is/are correct in the context of the given passage? I. The GDS percentage to GDP has shown considerable improvement from 10% in 1950 to 33.7% in 2010, which is one of the highest globally. II. The saving rate however shows an increasing trend, marginal decline is observed under tic use hold sector. III. The share of financial assets in total household savings have come down from 54.05% to 21% especially in post reform era.....

MCQ->Which operation has been launched by the Income Tax Department (ITD) to track deposits post demonetisation?....

MCQ-> Study the given information carefully to answer the given questions.M, N, O, P, Q R and S are seven people live on seven different floors of a building but not necessarily in the same order. The lower most floor of the building is numbered 1, the one above that is numbered 2 and so on till the topmost floor is numbered 7. Each one of them have different income i.e., 3500, 15000, 7500, 9000, 11000, 13500 and 5000. (But not necessarily in the same order.) M lives on an odd numbered floor but not on the floor numbered 3. The one who has income of 11000 lives immediately above M. Only two people live between M and the one who has income of 7500. The one who has income of 15000 lives on one of the odd numbered floors above P. Only three people live between 0 and the one who has income of 15000. The one who has income of 7500 lives immediately above 0. R earns 4000 more than Q. The one who has income of 3500 lives immediately above the one who has income of 5000. S lives on an odd numbered floor. Only one person lives between N and Q. N lives on one of the floors above Q. Neither 0 nor M has income of 0000. Q does not has income of 500. How much income M has ?
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MCQ-> Study the information carefully to answer the following questions :In an organisation consisting of 750 employees, the ratio of Males to Females is 8 : 7 respectively. All the employees work in five different departments viz. HR, Management, PR, IT and Recruitment. 16 per cent of the Females work in Management Department. 32 per cent of Males are in HR Department. One-fifth of the Females are in the Department of Recruitment. The ratio of Males to Females in the Management Department is 3 : 2 respectively. 20 per cent of the total numbers of employees are in PR Department. Females working in Recruitment are 50 per cent of the Males working in the same Department. 8 per cent of the Males are in IT Department. The remaining Males are in PR Department. 22 per cent of the Females work in HR Department and the remaining Females are working in IT Department.What is the total number of females working in the IT and Recruitment Department together ?
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MCQ-> Based on the following information

Total income tax payable is obtained by adding two additional surcharges on calculated income tax.Education Cess : An additional surcharge called ‘Education Cess’ is levied at the rate of 2% on the amount of income tax.Secondary and Higher Education Cess : An additional surcharge called ‘Secondary and Higher Education Cess` is levied at the rate of 1% on the amount of income tax.Sangeeta is a young working lady. Towards the end of the financial year 2009 - 10, she found her total annual income to be Rs. 3, 37, 425/ -. What % of her income is payable as income tax?
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