DAILY CURRENT AFFAIRS QUIZ – 16 May 2025

Answer: b)

Explanation:

Statement 1 is incorrect. The LAC is not a legally demarcated border but a concept of separation

between Indian-controlled and Chinese-controlled territories. It is neither agreed upon by both

countries nor demarcated on the ground.

Statement 2 is correct. The LoC with Pakistan indeed emerged from the 1948 ceasefire line negotiated

by the UN after the Kashmir War. It was later designated as the LoC in 1972 following the Shimla

Agreement.

Statement 3 is correct. Unlike the LoC, which is delineated on a map signed by the DGMOs of both

India and Pakistan, the LAC is not delineated on any mutually agreed map between India and China.

Answer: b) 2 and 3 only

Explanation:

Statement 1 is incorrect. The rule of law explicitly states that no one may be detained or punished

except through due process of law and for a violation of a law established through regular legal

methods. It does not allow for punishment based on whims or arbitrary decisions.

Statement 2 is correct. The rule of law applies to everyone equally, regardless of rank, status, or

position. It ensures equality before the law and equal legal protection for all.

Statement 3 is correct. The judiciary is indeed considered both the keeper and the guardian of the

rule of law. It is expected to be objective and free of bias in upholding the law.

Statement 4 is incorrect. The rule of law is built on the absence of arbitrariness and arbitrary decision

making. It requires that authority be exercised within the limitations and boundaries set by the law.

Answer: a) 1, 2, 3 and 4 only

Explanation:

The Brahmaputra basin includes sections of four countries:

1. Tibet (China): The river originates in Tibet, where it is known as the Yarlung Tsangpo.
2. India: It flows through the northeastern states of India, particularly Arunachal Pradesh and

Assam.

3. Bhutan: Some of the Brahmaputra’s tributaries originate in or flow through Bhutan.
4. Bangladesh: The river enters Bangladesh, where it merges with the Ganges to form the Padma

River before emptying into the Bay of Bengal.

Nepal is not part of the Brahmaputra basin. While Nepal is part of the larger Ganges-Brahmaputra

Meghna basin system, it specifically belongs to the Ganges basin, not the Brahmaputra basin.

Answer: a) 1, 2 and 3 only

Explanation: The correct answer is option a) 1, 2 and 3 only. Let’s examine each statement:

1. Correct: Angel tax is indeed levied at a rate of 30.6% on unlisted companies when they issue

shares at a price higher than their fair market value.

2. Correct: The tax applies when an unlisted company issues shares to an investor at a price

higher than its fair market value. Fair market value is defined as the price of an asset when

both buyer and seller have reasonable knowledge of it and are willing to trade without

pressure.

3. Correct: The Finance Act, 2023 extended the applicability of Angel Tax to include foreign

investors. Previously, it was only applicable to investments made by resident investors.

4. Incorrect: DPIIT-recognized start-ups are now excluded from the angel tax levy. This is an

important exception to the rule and makes this statement false.

Therefore, statements 1, 2, and 3 are correct, while statement 4 is incorrect. This makes option a) the

correct answer.