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प्रश्न
State the difference between income tax and expenditure tax.
अंतर स्पष्ट करें
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उत्तर
| S. No. | Aspect | Income Tax | Expenditure Tax |
| 1. | Tax Base | Based on the income of the individual or corporation. | Based on what an individual or entity spends. |
| 2. | What is Taxed | Earnings include salaries, corporate profits, and investment income. | Amount spent on consumption or specific expenses. |
| 3. | Purpose | Income tax encourages saving and investing. | Encourages savings by taxing spending, not income. |
| 4. | Common Examples | Individual income tax, corporate tax. | Some countries have expenditure taxes like luxury tax. |
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संबंधित प्रश्न
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 |
Name any two instruments of Fiscal Policy.
Define a degressive tax.
Classify the following type of tax into direct and indirect taxes:
Sales tax
Briefly explain why direct taxes foster civic consciousness among people.
Give an example of Indirect tax.
State two drawbacks of direct taxes.
Explain how tax can be used as an instrument to regulate consumption and production in an economy.
State the four merits of a direct tax.
Explain the state's role in achieving the objective of social justice in less developed countries.
