Sunday, January 22, 2017

ugc net cbse paper answer key solved january 2017

 (A): Sustainable development critical to wellbeing of human society. Reason (R): Environmentally sound policies do not harm the environment or deplete the natural resources. Choose the correct code: Both (A) and (R) are correct and (R) is the correct explanation of (A). Both (A) and (R) are correct, but (R) is not the correct explanation of (A). (A) is true and (R) is true (A) is false and (R) is true Answer: 2 2. The dominant source of pollution due to oxides of nitrogen (NOx) in urban areas is (1) Road transport (2) Commercial Sector (3) Energy use in industry (4) Power plants Answer: 2 3. Which of the following is not a water-borne disease? (1) Typhoid (2) Hepatitis (3) Cholera (4) Dengue Answer: 2 Q: 4. Which of the following is a characteristic of Web2.90 applications? (1) Multiple users schedule their time to use Web2.0 applications one by one. (2) Web2.0 applications are focused on the ability for people to collaborate and share information online. (3) Web2.0 applications provide users with content rather than facilitating users to create it. (4) Web2.0 applications use only static pages. Answer: 2 Q: 5. With regard to a word processing software, the process of combining static information in a publication together with variable information in a data source to create one merged publication is called Electronic mail Data sourcing Mail merge Spam mail Answer: 3 Q: 6. DVD technology uses an optical media to store the digital data DVD is an acronym for Digital Vector Disc Digital Volume Disc Digital Versatile Disc Digital Visualization Disc Answer: 3 Q: 7. Which of the following are the demerits of globalization of higher education? Exposure to global curriculum Promotion of elitism in education Commodification of higher education Increase in the cost of education Select the correct answer from the codes given below: Codes: (a) and (d) (a), (c) and (d) (b), (c) and (d) (a), (b), (c) and (d) Answer: 3 Q: 8. Which of the following statements are correct about deemed universities? The Governor of the State is the chancellor of deemed universities. They can design their own syllabus and course work. They can frame their own guidelines regarding admission and fees. They can grant degrees. Select the correct answer from the codes given below: Code: (A), (B) and (C) (B), (C) and (D) (A), (C) and (D) (A), (B), (C) and (D) Answer: 2 Q: 9. India government’s target for power production from small hydro projects by the year 2022 is 1 Giga-Watt 5 Giga-Watt 10 Giga-Watt 15 Giga-Watt Answer: 2 Q: 10. In which country, the recent international agreement on phasing out Hydro Fluoro Carbons (HFCs) was signed? Rwanda Morocco South Africa Algeria Answer: 1 Q: 11. Which of the following natural hazards is not hydro-meteorological? Snow avalanche Sea erosion Tropical cyclone Tsunami Answer: 2 Q: 12. Instead of holding the office during the pleasure of the President who among the following hold (s) office during good behavior? Select the correct answer from the codes given below: Codes: (a) only (c) Only (a) and (c) (a), (b), (c) and (d) Answer: 2 Q: 13. The purpose of value education is best served by focusing on Cultural practices prevailing in the society. Norms of conduct laid down by a social group Concern for human values Religious and moral practices and instructions. Answer: 3 Q: 14. Which of the following statements are correct? Rajya Sabha is a permanent House which can be dissolved only during national emergency. Rajya Sabha does not represent the local interests of the States. Members of the Rajya Sabha are not bound to vote at the dictates of the states they represent. No Union territory has a representative in the Rajya Sabha. Select the correct answer from the codes given below: Code: (a) and (d) (b) and (c) (b), (c) and (d) (a), (b), (c) and (d) Answer: 2 Q: 15. Which of the following are not necessarily the immediate consequences of the proclamation of the President’s Rule in a State? Dissolution of the State of Ministers in the State Removal of the Council of Ministers in the State. Takeover of the State administration by the Union Government Appointment of a new Chief Secretary Select the correct answer from the codes given below: Codes: (a) and (d) (a), (b) and (c) (a), (b), (c) and (d) (b) and (c) Answer: 1 Q: 16. In which teaching method learner’s participation is made optimal and proactive? Discussion method Buzz session method Brainstorming session method Project method Answer: 1 Q: 17. One of the most powerful factors affection teaching effectiveness is related to the Social system of the country Economic status of the society Prevailing political system Educational system Answer: 4 Q: 18. Assertion (A): Formative evaluation tends to accelerate the pace of learning. Reason (R): As against summative evaluation, formative evaluation is highly reliable. Choose the correct answer from the following code: Both (A) and (R) are true and (R) is the correct explanation of (A). Both (A) and (R) are true, but (R) is not the correct explanation of (A). (A) is true, but (R) is false. (A) is false, but (R) is true Answer: 3 Q: 19. Which of the following set of statements represents acceptable propositions in respect of teaching-learning relationships? Choose the correct code to indicate your answer. When students fail in a test, it is the teacher who fails. Every teaching must aim at ensuring learning. There can be teaching without learning taking place There can be no learning without teaching. A teacher teaches but learns also Real learning implies rote learning Codes: (ii), (iii), (iv) and (v) (i), (ii), (iii) and (v) (iii), (iv), (v) and (vi) (i), (ii), (v) and (vi) ] Answer: 2 Q: 20. Assertion (A): Learning is a life long process. Reason (R): Learning to be useful must be linked with life processes. Choose the correct answer from the following code: Both (A) and (R) are true and (R) is the correct explanation of (A). Both (A) and (R) are true, but (R) is not the correct explanation of (A). (A) is true, but (R) is false (A) is false, but (R) is true.

Tuesday, January 17, 2017

Income Tax Rates / Tax Slabs (AY-2014-2015 & 2015-2016) a glance in short

Income Tax Rates / Tax Slabs
(AY-2014-2015 & 2015-2016)


(I)
For Individuals (Males and Females both below the age of 60 years), HUFs, AOPs, BOls
(II)
For Senior Citizens (individuals who is age of 60 years or more but less than 80 years)
(III)
For senior citizens (individuals who is age of 80 years or more).
(IV)
For Partnership Firm
(V) For Companies
(VI) Minimum Alternate Tax [MAT]
(VII) Co-operative Society
(VIII) Wealth Tax Rate
(IX)
Section-wise Other Income Tax Rates Specified In The Income Tax Act.
(I) For Individuals (Males and Females both below the age of 60 years), HUFs, AOPs, BOls
For A.Y. 2014-2015

Income Slab
Rates of income tax
(1)
where the total income does not exceed Rs. 2,00,000
Nil;
(2)
where the total income exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000  10% of the amount by which the total income exceeds Rs. 2,00,000;



(3)
where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 Rs. 30,000 plus 20%  of the amount by which the total income exceeds Rs. 5,00,000;



(4)
where the total income exceeds Rs. 10,00,000 Ps. 1,30,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000

Important Note : For F. Y. -2013-2014 (A. Y .2014-2015), Tax Rebate of 2000 for individuals having total income upto 5 Lakh. This credit will not be available to HUF, AOP, BOl, etc
For A.Y. 2015-2016

Income Slab
Rates of income tax -
(1)
where the total income does not exceed Rs. 2,50,000 Nil;
(2)
where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000 10% of the amount by which the total income exceeds Rs. 2,50,000;
(3)
where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 Rs. 25,000 plus 20% of the amount by which income exceeds Rs. 5,00,000;
(4)
where the total income exceeds Rs. 10,00,000 Rs. 1,25,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000.

(II) For Senior Citizens
(individuals who is age of 60 years or more but less than 80 years).
For A.Y. 2014-2015

Income Slab
Rates of income tax
(1)
where the total income does not exceed As. 2,50,000 Nil;
(2)
where the total income exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000 10%  of the amount by which the total income exceeds Rs. 2,50,000.
(3)
where the total income exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000 Rs. 25,000 pIus 20% of the amount by which the total income exceeds Rs. 5,00,000.
(4)
where the total income exceeds Rs. 10,00,000 As. 1,25,000 pIus 30%  of the amount by which the total income exceeds Rs. 10,00,000.

For A.Y. 2015-2016

Income Slab
Rates of Income Tax
(1)
where the total income does not exceed Rs. 3,00,000 Nil
(2)
where the total income exceeds Rs. 3,00,000 but does not exceed Rs. 5,00,000 10% of the amount by which the total income exceeds Rs. 3,00,000
(3)
where the total income exceeds Rs. 5,00,000 but does exceed Rs. 10,00,000 Rs. 20,000 pIus 20% of the amount by which the total income exceeds Rs. 5,00,000
(4)
where the total income exceeds Rs. 10,00,000 Rs. 1,20,000 pIus 30%, of the amount by which the total income exceeds As. 10,00,000.
 
(III) For senior citizens (individuals who is age of 80 years or more).
For A.Y. 2014-2015 & A.Y. 2015-2016

Income Slab
Rates of income tax
(1)
where the total income does not exceed Rs. 5,00,000 Nil;
(2)
where the total income exceeds Rs. 5,00,001 but does not exceed Rs. 10,00,000 20% of the amount by which the total income exceeds Rs. 5,00,000;
(3)
where the total income exceeds Rs. 10,00,000 Rs. 1,00,000 plus 30% of the amount by which the total income exceeds Rs. 10,00,000.
Notes:—
(1)      Surcharge— ForA.Y. 2014-2015 &201 5-2016,10% Surcharge on Individual, HUF, AOP, BOl, if total income exceeds ` 1 crore.
(2)      Education Cess — 2% of Income-tax.
(3)      Secondary & Higher Education Cess —1% of Income-tax.
Marginal Relief: In the case of person mentioned above having total income exceeding one crore rupees the total amount payable as income tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees
 
(IV) For Partnership Firm
For A.Y. 2014-2015 & A.Y. 2015-2016
Rate of income tax
surcharge
Education Cess
30% on whole of the income For A. Y. 2014-15 & 2015-2016, 10% Surcharge of IT., if total income exceed 1 Crore 2% of incometax and Additional Secondary & Higher Education Cess @1%isalsolevied on all assessees.
Marginal Relief: In the case of firms having total income exceeding 1 Crore, the total amount payable as income- tax and surcharge on such income shall not exceed the total amount payable as income-tax on a total income of 1 Crore rupees by more than the amount of income that exceeds 1 Crore.
 
(V) For Company
For A.Y. 2014-2015 & A.Y. 2015-2016
Type of Company
Rates of Income-tax
1. A Domestic Company
30%
2. A Foreign Company where income consists of :-
(i)      royalties received from Government or an Indian concern under an agreement made after March31, 1961, but before April 1, 1976, or fees for rendering technical services received from Government or an Indian concern under an agreement made after February 29, 1964, but before April 1, 1976, and where such agreement has, in either case, been approved by the Central Government.
(ii)     where agreement referred above is made between 1.4.1 976 to3l .5.1997.
(iii)    where agreement referred above is made after 31.5.1997.
(iv)    on the balance, if any, of the total income.


50%




NIL

NIL

40%
Surcharge for A.Y. 2014-2015 & A.Y. 2015-2016
Type of assessee
Rate of surcharge
(I) Domestic Company
(i) 5% of Income-tax, if income exceeds 1 crore but does not exceed Rs. 10 crore.
(ii) 10% of Income-tax, if income exceeds 1 0 crore
(ii) Foreign Company
(i) 2% of Income-tax, if income exceeds 1 crore but does not exceed Rs. 10 crore
(ii) 5% of Income-tax, if income exceeds 10 crore.
Education Cess : 2% of income-tax (including surcharge thereon)
Secondary & Higher Education cess—1 % of income tax (including surcharge thereon).
Marginal Relief: In the case of every company having a total income exceeding Rs. 1 crore & 10 crore, the total amount payable as income tax and surcharge on such income shall not exceed the total amount payable as income tax on a total income of Rs. 1 crore & 10 crore by more than the amount of income that exceeds Rs. 1 crore & 10 crore respectively.
(VI) Minimum Alternate Tax [MAT]
For A.Y. 2014-2015 & A.Y. 2015-2016
Type of assessee
Rate of surcharge
Domestic Company
18.5%
Foreign Company
18.5%
S.C.— If a book profit of a company exceeds Rs. 1 crore then the MAT cannot exceed the following (P.S. -18.5 lakh + Book profit - 1 crore) + EC+SHEC)
 
(VII) Co-operative Society
For AY. 2014-2015 & A.Y. 2015-2016

Income Slab
Rates of income tax
(1)
where the total income does not exceed Rs. 10,000
10% of the total income;
(2)
where the total income exceeds Rs. 10,000 but does not exceed Rs. 20,000
Rs. 1,000 pIus 20% of the amount by which the total income exceeds Rs. 10,000;
(3)
where the total income excees Rs. 20,000
Rs. 3,000 pIus 30%  of the amount by which the total income exceeds Rs. 20,000.
Surcharge:— For A. Y. 2014-2015 & 2015-2016, 10% Surcharge on Income Tax, if total income exceeds 1 crore
Education Cess:- 2% of income tax.
Secondary & Higher Education Cess:- 1% of Income-tax.
Marginal Relief: In the case of cooperative society having total income exceeding one crore rupees the total amount payable as income tax on a total income of one crore rupees by more than the amount of income that exceeds one crore rupees
 
(VIII) WEALTH TAX:
For A.Y. 2014-2015 & A.Y. 2015-2016

Income Slab
Rates of income tax
(a) an individual or a HUFs:
(i) Where the net wealth does not exceed
Rs. 30,00,000
(ii) Where the net wealth exceeds Rs. 30,00,000


NIL;
1% of the amount by which the netwealth exceeds Rs. 30,00,000.


(b) a company
(i) Where the net wealth does not exceed Rs. 30,00,000
(ii) Where the net wealth exceeds Rs. 30,00,000

NIL;
1% of the amount bywhich the net wealth exceeds Rs. 30,00,000.
 
Section-wise Other Income Tax Rates Specified In The Income Tax Act.
SECTIONS
INCOME
RATE OF INCOME TAX for A.Y. 2014-2015 & 2015-2016
111A
Short term Capital Gains from Securities listed on a recognised stock exchange
15%
112
Long Term Capital Gains :
- If assessee is a resident individual or H.U.F. [Also see proviso to section 112(1 )(a)]

20%

- If assessee is a non-resident individual 20%
- If assessee is a domestic company 20%
- If assessee is a foreign company 20%
- In any other case of a resident 20%
115A
Tax on dividends, royalty and technical service fees in the case of Foreign companies-
(a)(i)Dividends [other than dividends referred to in section 115-0]; or


20%

(ii)lnterest received from Government concern on moneys borrowed or debts incurred by Government or the Indian concern in foreign currency not being interest of the nature referred to in clause (ha) or (iiaa)

20%

(ha) Interest received from an infrastructure debt fund referred to under section 1 0(47);or     

5%
(iiaa) Interest of the nature and extent referred to in section 1 94LC; or
5%
(ilab) Interest of the nature and extent referred to in section 194LD;or(we.f. 01.4 .2014)

5%
(iiac) distributedincome being intere st referred to in section - 194LBA(2) i.e. for certain income from units of a buiness trust (Inserted by the Finance (No.2)BiII, 2014, w.e.f. 01.04.2015)
5%


(iii)lncome received in respect of units, purchased in foreign currency, of a mutual fund specified u/s 1 0(23D) or of the Unit Trust of India.
(b)Income from royalty or fee for technical services other than income referred to in section 44DA(1)from Indian concern or government of India under approved agreement.

20%


(i) the amount of income tax calculated on the income by way of royalty, if any included in the total income [Substituted by theFinance Act, 2013, wet. 01 .04.2014

25%
(ii) the amount of income tax calculated on the income by way of fees for technical services if any included in the total income [Substituted by the Fnance Act, 2013, w.e.f 01.04.2014].

25%
115A
Income of an Overseas Financial Organisation (offshore fund) from units purchased in foreign currency or capital gains there from
10%
115AC
Income of non-resident from bonds or Global Depository Receipts purchased in foreign currenc or capital gains thereof. [Not applicable in case o dividends referred to in section 115-0].
10%
115ACA
115ACA Income of resident employees from Global Depository Receipts purchased in foreign currency
10%
115AD
In case of income of a foreign institutional investor:
  1. ncome from listed securities (other than Sec. 115AB  


20%
  1. From short-term gains of such securities (u/s. 111A)
15%
  1. From long-term capital gains
10%
  1. From securities other than referred u/s 111A
30%
  1. Income by way of interest on certain bonds & Govt. Securities referred in section 194LD, w.e.f. 01 .4.2014.
5%
  1. Other income [not applicable in the case of dividends referred in section 115-0]

20%
115B
Income from life insurance business
12.5%
115BB
On income in respect of winnings from lotteries, cross word puzzles, races and horse races, card games, gambling or betting –
-where assessee is a non-corporate resident



30%
-where assessee is a domestic company 30%
30%
30%
- where assessee is a non-resident 30%
115BBA
On Income of a non - resident foreign sportsman from any game in India, advertisement or winnings or contribution of an article relatin9 to games or sports in India or income of non-resident sports association from guarantee money.
20%
115BBB
Income from units of an open ended equity oriented fund of U.T.I. or a Mutual Fund
10%
115BBC
Anonymous donations received by a person in certain cases. (applicable from A.Y. 2007-2008)
30%
115BBD
Tax on certain dividend received from Foreign Company
15%
115BBE
Income referred to in sections 68, 69, 69A, 69B, 69C & 69D
30%
115E
On Investment income from Foreign Exchange Assets & Long-term Capital gains of non-resident Indians.
[ 10% Long-Term Capital Gains]
115JB
Special provision for payment of tax by certain companies
18.5%
115JC
Alternate minimum tax on non-corporate tax payer
18.5%
115O
On distributed profits of domestic companies
15%
161(1A)
On Income from business when assessee is a trust as per terms of the section.
30%
164
On Income of private discretionary trust where shares of beneficiary are not known.
30%
164A
Income of Oral trusts
30%
167A
Income of a Firm
30%
167B(1)
On Income of A.0.P. or Body of Individuals where shares of members are not known. (Provided if income of any member is chargeable at a higher rate than the higher rate shall be applicable)
30%
167B(2)(i)
Income of A.0.P. or Body of Individuals not cover’d u/s 167B(1) while other income of any member exceeds the thresh hold limit.
30%
167B(2)(ii)
On Income of A.0.P. or Body of Individuals where income of a member is chargeable at a rate higher than the maximum chargeable rate then on that portion of income of the A.0.P. or Body of individuals that relate to such person the tax shall be calculated on such higher rate and on balance of total income.
30%