Taxes types: direct and indirect taxes
Explain any five characteristics of the tax.
State two differences between the tax on income and tax on the commodity.
Indirect taxes are regressive in nature. How can they be made progressive?
Explain the meaning of the following terms:
What is meant by expenditure tax? Give an example.
Define a direct tax. Give two examples.
A special virtue of indirect taxes is that they sometimes help in social reforms. Explain.