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Question
Give two examples for direct tax.
Solution
Equity:
Direct taxes are progressive i.e. rate of tax varies according to the tax base. For example, income tax satisfies the canon of equity.
Certainty:
Canon of certainty can be ensured by direct taxes. For example, an income tax payer knows when and at what rate he has to pay income tax.
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RELATED QUESTIONS
The tax possesses the following characteristics ______.
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