With reference to India’s decision to levy an equalization tax of 6% on online advertisement services offered by non-resident entities, which of the following statements is/are correct? 1. It is introduced as a part of the Income Tax Act. 2. Non-resident entities that offer advertisement services in India can claim a tax credit in their home country under the “Double Taxation Avoidance Agreements”. Select the correct answer using the code given below:
A1 only
B2 only
CBoth 1 and 2
DNeither 1 nor 2
Answer & Solution
Correct answer: A. 1 only
UPSC CSE Prelims 2018 (GS-I, Set C), Q.8. Official answer key: A.
Related questions
Estimates of National Income in India are prepared by:Which one of the following is the primary source of energy in India?The 'tragedy of the commons' refers to:The three pillars of sustainability are typically:Sustainable development is best defined as:Kerala has a LOWER per capita income than Punjab but BETTER development outcomes in healthInfant Mortality Rate (IMR) measures:The Human Development Index (HDI) combines indicators from which three areas?