With reference to the cultural history of India, which one of the following: is the correct description of the term ‘paramitas’?

The correct answer is C. Paramitas are the 'perfections' cultivated in Mahayana Buddhism, usually listed as six (dana, sila, kshanti, virya, dhyana, prajna), sometimes extended to ten. A Bodhisattva practises them over many lives, and their attainment is what marks progress on the Bodhisattva path towards Buddhahood. This is a standard Art and Culture point, and it links to the Mahayana doctrinal shift that also shaped Gandhara art and the Buddha-as-saviour idea you may need for Mains.

• A is wrong: Early Dharmashastra texts in sutra style are the Dharmasutras of Gautama, Baudhayana and Apastamba. They are legal texts, not Buddhist perfections.
• B is wrong: Schools rejecting Vedic authority are called nastika or heterodox systems, such as Buddhism, Jainism and Charvaka. The term is a category, not paramitas.
• D is wrong: Powerful merchant guilds of early medieval South India include the Manigramam, Nanadesi and Ayyavole (Ayyavole 500). They are economic bodies, not doctrinal concepts.

Trap: Aspirants who recall 'sutra' or 'school' vaguely may pick A or B, forgetting that the question is about Buddhist doctrine, not Brahmanical or guild terminology.