Practice with SBI PO Prelims English Preparation Questions 2019 Day 6. For every bank exams, English section is important for prelims as well as mains exam. You should score at least the minimum qualifying marks to get qualify the examination. The English language section is quite tougher compare to other sections. So analyze the updated syllabus and exam pattern for English and give priority according to the weightage. Give more importance to the more weightage sections. If you want to crack the examination within a short period of time the start preparation and practice regularly with our SBI PO Prelims English Preparation Questions 2019 Day 5.
“Success usually comes to those who are too busy to be looking for it”
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Direction (1-10): Read the passage carefully and answer the following questions.
India’s tax authorities are reportedly inundated with pleas from various trade bodies to soften the two-year-old law to crack down on benami properties. An outright dilution of the law that is targeted against black money is not a good idea. Benami properties — registered in the name of third parties, fictitious or otherwise, by the owner who stays anonymous — should be eliminated, as these are instruments to generate and hide wealth. But the law is being tested and, therefore, it makes sense to remove glitches, to ensure that its enforcement does not lead to undue harassment. One, the government must make enforcement of the law prospective. Two, it also needs to set a threshold limit above which benami properties that have been unearthed would be confiscated. It will also lighten the load on the adjudicating authority, and cut delays in confiscation of benami properties.
The original law — the Benami Transaction (Prohibition) Act — was introduced in 1988, but rules were never framed. The NDA amended the 1988 legislation since enacting a new law would not allow retrospective penalization. Courts have taken cognisance of this matter. Last year, the Delhi High Court observed that if the amended benami law was being interpreted by the tax department in such a way as to give it retrospective effect from 1988, it would lead to reopening of 20-30-year-old cases, many of which would have gone to the Supreme Court. The department was asked to take a clear stand on how the law would be administered. The ball is in the government’s court.
Reforms are also needed in the real estate sector that is a sink for black money. The sector should be swiftly brought under the goods and services tax that creates audit trails in the income and production chain to curb tax evasion. Title deeds must also be clear to curb fraudulent real estate deals. To give property holders guaranteed ownership, the country should adopt the Torrens system of land registration, in which ownership of land depends not on title deeds but direct entry in a registry maintained and guaranteed by the state. To drive out black money, politics will need to be funded transparently.
1) According to the passage, which of the following is the main purpose of the Benami Transaction (Prohibition) Act?
a) To reduce the NPA of public sector bank
b) To capture the fugitive economic offenders
c) To curb out Black money
d) Transparency in the tax system
e) Giving guaranteed ownership to property holders
2) According to the passage, what needs to be done to make the Benami Transaction (Prohibition) Act more convenient?
- The government must make enforcement of the law prospective
- Government needs to set a threshold limit above which the unearthed benami properties would be confiscated
iii. The tax department needs to clear stand on how the law would be administered
iv. Title deeds must also be clear to curb fraudulent real estate deals
a) All except i
b) All except ii
c) All except iv
d) All except iii
e) All are true
3) As per the passage, which of the following is true about Torrens system?
- it is used to give property holders guaranteed ownership
- In Torrens system ownership of land depends on title deeds
iii. In Torrens system entry of land is done in a registry maintained by the state
a) All except i
b) All except ii
c) All except iii
d) All are true
e) None of these
4) As per the passage, how does GST help in curbing tax evasion from real estate?
a) GST ensures direct registration of land in a registry maintained and guaranteed by the state
b) It creates audit trails in the income and production chain to curb tax evasion
c) It ensures the transparency in the funding done in the real estate
d) All of the above
e) None of these
5) Identify the tone of the author in the given passage?
a) Euphemistic
b) Narrative
c) Analytical
d) Commiserating
e) Eulogistic
6) Which of the following is true about the Benami Transaction (Prohibition) Act?
- It was introduced in 1988.
- The new act replaces the earlier one.
iii. The amended form would lead to reopening of the old cases.
a) All except i
b) All except ii
c) All except iii
d) All are true
e) None of these
7) Choose the word which is most nearly the same in meaning as the word “cognisance” printed in bold as used in the passage.
a) Blueprint
b) Fumble
c) Notice
d) Report
e) Design
8) Choose the word which is most nearly the same in meaning as the word “swiftly” printed in bold as used in the passage.
a) Affluence
b) Delay
c) Practically
d) Promptly
e) Virtually
9) Choose the word which is most opposite in meaning of the word “inundated” printed in bold as used in the passage.
a) Flooded
b) Prevent
c) Swamped
d) Starved
e) Variance
10) Choose the word which is most opposite in meaning of the word “confiscation” printed in bold as used in the passage.
a) Repossession
b) Restoration
c) Seizure
d) Lessened
e) Finish
Answers
1) Answer: c)
It is clearly mentioned in the passage that the Benami Transaction (Prohibition) Act is intended to curb the black money invested in the benami properties.
2) Answer: c)
Point iv has been said in context of the amendments needed in the real estate sector. So all are true except iv.
3) Answer: b)
Point ii is not correct. So option b is correct.
4) Answer: b)
Option b is the correct answer.
5) Answer: c)
Author has used ‘Analytical’ tone, with the analysis of all the facts and figures related to the topic. So, option c is the correct answer.
6) Answer: b)
New act is the amended form of the earlier one. It does not replace the earlier one. So option b is correct.
7) Answer: c)
The meaning of cognisance is notice.
8) Answer: d)
The meaning of swiftly is promptly.
9) Answer: d)
The meaning of inundated is flooded. So starved will be a near antonym word.
10) Answer: b)
The meaning of confiscation is seizure. So the antonym will be restoration.
