Daily Quiz | Taxes in India and abroad
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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 Name this tax that was subsequently repealed in 1998.
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Through the Foreign Earned Income Exclusion provision, U.S. citizens and green card holders who live and work outside the U.S. can exclude part or all of their foreign-earned income from U.S. tax This provision cannot be claimed by U.S. citizens who belong to a certain profession and live for a considerable period of time outside the U.S. Which profession, and why?
Answer : Astronauts cannot claim this provision as they do not technically live or work ‘abroad’
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This famous Mughal emperor abolished the religious tax ‘jizya’ in 1579. One hundred years later, it was revived by another Mughal emperor (pictured in the beginning). Name both leaders.
Answer : Akbar abolished it, while Aurangzeb reintroduced it
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This tax was imposed on the Nadars, Ezhavars and lower caste communities by the Kingdom of Travancore in the early 19th century. According to the village legend of Nangeli, an Ezhava woman from Cherthala severed a part of her body in protest against the tax. She then presented her severed organ to the tax collector in a plantain leaf, before dying of blood loss. What tax was she protesting?
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In the 1700s, Great Britain began taxing bricks under the reign of King George III. In response, manufacturers began using a type of brick known as ‘Jumb’ or ‘Gob’ to mitigate the effect of the taxes. The tax was finally revoked in 1850 as it was considered detrimental to industrial development. How were Jumb and Gob bricks different from regular bricks?
Answer : Jumb or Gob bricks were double-sized bricks intended to decrease the burden of the tax, which was levied on every thousand bricks used
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Chauth and Sardeshmukhi were two types of taxes collected in India by the Maratha Empire. They were introduced as part of the taxation system under which Maratha ruler?
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This slogan originated in the American Revolution, and expressed a key grievance of the American colonists against Great Britain. The colonists believed that since they were not represented in the British parliament, any tax imposed on the colonists was unconstitutional. Identify the slogan.
Answer : No taxation without representation
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