Question

Choose the correct statement

1. Black money refers to the unaccounted money.
2. Taxation should be used as an instrument for controlling inflation.
3. Taxpayer does not expect any direct benefit from direct taxes.
4. Unreported income is a form of tax evasion.

Options

• (i), (ii) are correct

• (ii), (iii), (iv) are correct

• (i), (iii), (iv) are correct

• All are correct.

Answer 1

All are correct.