English Quiz 7th July- English Quiz for SBI PO 2020 |

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Adda 247 will provide you daily English Language Mock of “SBI PO Prelims. In today’s English Language Mock, we have a Miscellaneous Based Quiz. Stay tuned with bankersadda to get Daily English Language Mock and boost your preparation for the upcoming bank exam. You can also prepare with the study plan for SBI PO available on the bankersadda website.

Directions (1-5): In the following paragraph, there is a set of four highlighted words against each number indicated in bold in the beginning of the sentences. One of the given set of words may or may not fit into the statement. Choose the word which is not suitable in the context of the paragraph. If all the four words are correct and feasible, choose (e) i.e. “No error” as your answer.

(1) To prevent the round-tripping of funds arising from the India Mauritius Tax Treaty, to mitigate the discriminatory tax hindrance towards Indian investors, and to promote investment in stock markets, India abolished the LTCG tax on equities in 2004-05. (2) This, however, did not forecast the round-tripping problem. Therefore, the Indian government amended the India Mauritius Tax Treaty in May 2016, reserving the right to tax capital gains on transfer of shares acquired on or after April 2017. (3) With this iniquity in place, there is now no need to exempt Indian investors from the Long-term capital gain (LTCG) tax. (4) Since the years, the Indian share market has gained width and depth. In 2017, it emerged as the eighth largest market in the world. (5) Ideally, a part of this prosperity should go to the Indian government in the form of tax revenue. According to “The Global Competitiveness Report, 2017-2018”, the total tax rate as a percentage of profit were around 60% in India.