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In the following passage there are blanks each of which has been numbered. These numbers are printed below the passage and against each five words have been suggested, one of which fits the blanks appropriately. Find out the appropriate word in each case.
The income-tax department is reportedly on an overdrive to nab tax evaders. Punitive action against non-disclosure should be in consonance with the existing income tax law. The department has started (1) people on transactions older than the six-year time-limit (2) for scrutiny under the income-tax law, apparently taking shelter of the income disclosure scheme that allowed a person to declare undisclosed income beyond six years. This is extremely unfortunate and will result in harassment of the middle class. The super-rich, who generously fill the coffers of our politicians and political parties, whose income and expenses are (3) in black money, will obviously be immune to the taxman’s (4) enthusiasm. Disputes will mount and demands will turn vicious, to be dubbed tax terrorism. Fishing (5) must end. Not all foreign accounts and foreign-registered companies have illicit money or business.
To establish audit trails, the department must push for effective information-sharing with tax havens such as British Virgin Islands that have reportedly registered companies and trusts — where ownership details do not have to be (6). Audit trails also hold the key in a globalised economy where multinational companies (7) complex transactions to escape taxes automatic sharing of information among countries from next year will make it easier for governments to track these transactions. Nevertheless, like Britain, India should create a unique legal entity (8) to make companies identify their beneficial owners, and make the registry public.
The focus must be on preventing generation of black money, through systemic changes and optimal use of information technology. The goods and services tax, once implemented, will generate multiple audit (9) to undeclared production and income. New data analytics that can glean intelligence from unstructured, real-time data as well as from structured data will empower the taxman. India also needs to (10) its tax system to widen the base, lower tax rates.
Q1.Choose the correct option for (1)
01. puzzle
02. probe
03. quizzing
04. asking
05. questions
Q2.Choose the correct option for (2)
01. prescribing
02. stipulated
03. demanded
04. imposing
05. implore
Q3.Choose the correct option for (3)
01. include
02. entire
03. ironically
04. wholly
05. exclusively
Q4.Choose the correct option for (4)
01. revealed
02. dig up
03. trough
04. excavative
05. trenched
Q5.Choose the correct option for (5)
01. expeditions
02. blockage
03. hindrance
04. halt
05. trek
Q6.Choose the correct option for (6)
01. scribble
02. approach
03. files
04. filed
05. approved
Q7.Choose the correct option for (7)
01. undertake
02. launched
03. initiation
04. began
05. indeed
Q8.Choose the correct option for (8)
01. mandatory
02. identifier
03. prospective
04. enhance
05. flexibility
Q9.Choose the correct option for (9)
01. snub
02. direction
03. trails
04. depredation
05. affirm
Q.10.Choose the correct option for (10)
01. de-hyphenation
02. prevail
03. caution
04. overhaul
05. executed
Answer-
1. (3) For other options
Asking(V)- Interrogating
Probe(N)- Investigation
2. (2) For other options
Option prescribing/ demanded/ imposing are the synonyms of the word 'stipulate'.
3. (5) For other options
entire(Adj)- whole
Ironically(Adv)- jokingly
4. (4) For other options
Revealed/ dig up/trough are the synonyms of 'exacavate'.
5. (1) For other options
Blockage/ hindrance/ halt are the antonyms of 'expedition'.
6. (4) For other options
Scribble (V)-Write
Approach (N)-Access
7. (1) For other options
Launched/ initiation/ begin are the synonyms of the word undertake.
8. (2) For other options
Mandatory(adj)- necessary
Prospective (Adj)-probable
9. (3) For other options
Depredation(N)-Devastation
Snub(V)-Insult
10. (4) For other options
De-hyphenation(N)-The removal of a hyphen
Prevail(V)-Succeed
