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Question
Identify and explain the following concept:
Ashok paid the tax on his income and property.
Solution
Concept: Direct tax
Explanation:
- Direct tax refers to the tax paid on the basis of income and property of taxpayer.
- Since personal income tax paid by Ashok is determined on the basis of his income, this is related to the concept of ‘direct tax’.
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| i) | Direct tax | a) | Non-tax revenue |
| ii) | Indirect tax | b) | Inflation |
| iii) | Fees and Fines | c) | GST |
| iv) | Surplus budget | d) | Personal income tax |
Identify the right group of pairs from the given options.
| i) Direct tax | a) Non-tax revenue |
| ii) Indirect tax | b) Inflation |
| iii) Fees and Fines | c) GST |
| iv) Surplus budget | d) Personal income tax |
Identify the right group of pairs from the given options.
| i) | Direct tax | a) | Non- tax revenue |
| ii) | Indirect tax | b) | Inflation |
|
iii) |
Fees and Fines |
c) | GST |
| iv) | Surplus budget | d) | Personal income tax |
Identify the right group of pairs from the given options.
| i) | Direct tax | a) | Non-tax revenue |
| ii) | Indirect tax | b) | Inflation |
| iii) | Fees and Fines | c) | GST |
| iv) | Surplus budget | d) | Personal income tax |
Identify the right group of pairs from the given options.
| i) | Direct tax | a) | Non-tax revenue |
| ii) | Indirect tax | b) | Inflation |
| iii) | Fees and Fines | c) | GST |
| iv) | Surplus budget | d) | Personal income tax |
Identify the right group of pairs from the given options.
| i) Direct tax | a) Non-tax revenue |
| ii) Indirect tax | b) Inflation |
| iii) Fees and Fines | c) GST |
| iv) Surplus budget | d) Personal income tax |
