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Question
Match the following and select the correct option:
| Column A | Column B | ||
| (i) | Taxes imposed on income and wealth | A. | Regressive |
| (ii) | Taxes imposed on goods and services | B. | Progressive |
| (iii) | A tax system where the rate of tax decreases with increase income | C. | Direct taxes |
| (iv) | A tax system where the rate of tax increases as income increase | D. | Indirect taxes |
Options
(i) D, (ii) A, (iii) B, (iv) C
(i) C, (ii) D, (iii) B, (iv) A
(i) B, (ii) A, (iii) D, (iv) C
(i) C, (ii) D, (iii) A, (iv) B
Solution
(i) C, (ii) D, (iii) A, (iv) B
Explanation:
| Column A | Column B | ||
| (i) | Taxes imposed on income and wealth | A. | Direct taxes |
| (ii) | Taxes imposed on goods and services | B. | Indirect taxes |
| (iii) | A tax system where the rate of tax decreases with increase income | C. | Regressive |
| (iv) | A tax system where the rate of tax increases as income increase | D. | Progressive |
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RELATED QUESTIONS
The state can promote economic development by ______.
Which of the statement is true for income tax?
Match the following:
| Column I | Column II | ||
| A. | Direct tax | (i) | Tax rate increases with tax base |
| B. | Indirect tax | (ii) | Tax rate remains constant |
| C. | Proportional tax | (iii) | Imposed on goods and services |
| D. | Progressive tax | (iv) | Impact and incidence lie on the same person |
Match the following:
| Column I | Column II | ||
| A. | Impact of tax | (i) | Price stability |
| B. | Incidence of tax | (ii) | Simple to calculate |
| C. | Objective of Monetary Policy | (iii) | Ultimate burden of tax |
| D. | Proportional tax | (iv) | Original imposition of tax |
Read the following statements carefully and choose the correct alternative:
Assertion (A): Income tax is a direct tax.
Reason (R): GST is an indirect tax.
How can tax be used as an instrument to bring about equitable distribution of wealth and income?
Which one is better progressive or regressive taxation and why?
Discuss four fiscal policy objectives with reference to India.
State the following:
Three demerits of an Indirect tax.
Explain the term Impact of a tax.
