Taxation MCQ — 5 Practice Questions with Answers

Practice 5 Taxation multiple-choice questions with detailed answers and explanations. Ideal for RAS/RPSC exam preparation.

5 Questions Economy

Q1. Under the GST 2.0 reforms effective 1 October 2025, what new GST slab was introduced for sin goods, replacing the earlier 28% rate?

A 25%

B 30%

C 40% Correct

D 35%

Explanation

GST 2.0 reforms introduced a new 40% slab for sin goods, replacing the earlier 28% rate, while simplifying the main structure to two slabs of 5% and 18%.

Q2. When will the new Income Tax Act 2025 come into effect?

A January 1, 2026

B April 1, 2026 Correct

C July 1, 2026

D October 1, 2026

Explanation

The new Income Tax Act 2025 will come into effect from April 1, 2026, replacing the Income Tax Act 1961.

Q3. Under which Section was the 100 percent profit-linked tax deduction for DPIIT-recognised startups extended in Union Budget 2026-27?

A Section 35(2AB)

B Section 80-IAC Correct

C Section 10AA

D Section 56(2)(viib)

Explanation

The article states the deduction is under Section 80-IAC for startups incorporated from April 2016.

Q4. What is the new MAT (Minimum Alternate Tax) rate effective from April 1, 2026 as per Budget 2026-27?

A 15%

B 18%

C 14% Correct

D 10%

Explanation

The article states MAT rate was reduced from 15 percent to 14 percent effective April 1, 2026.

Q5. Were there any changes in income tax slabs in Budget 2026-27?

A Yes, slabs were raised

B No changes in slabs Correct

C Slabs were reduced

D New slabs added

Explanation

Budget 2026-27 made no changes in income tax slabs while introducing the new Income Tax Act 2025.

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Frequently Asked Questions

How many Taxation MCQ questions are available?

There are 5 Taxation practice MCQs available on Aspirant Academy, with detailed answers and explanations for each question.

Are answers and explanations provided for Taxation MCQs?

Yes, every Taxation question comes with the correct answer and a detailed explanation to help you understand the underlying concept.

How is Taxation relevant to the RAS/RPSC exam?

Taxation falls under the Economy section of the RAS/RPSC syllabus. It is a frequently tested area and regular practice with these MCQs will strengthen your preparation.

Can I practice Taxation questions in Hindi?

Yes, Aspirant Academy offers bilingual support. You can practice Taxation MCQs in both English and Hindi, including questions, options, and explanations.

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Taxation MCQ — 5 Practice Questions with Answers

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