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प्रश्न
State the difference between income tax and expenditure tax.
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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
Monetary policy means regulation of money supply by the monetary authority.
The major objective of monetary policy is ______.
The tax whose rate remains unchanged irrespective of the income of the taxpayer is called as ______.
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.
Citing reason state the advantage of a progressive tax over proportional tax.
Classify the following types of tax into direct and indirect taxes:
- Entertainment tax
- Income tax
- House tax
- Sales tax
State two drawbacks of direct taxes.
How does the state fulfil the following socio-economic objective?
Environmental protection.
Explain the significance of taxes.
Citing reasons state the superiority of Progressive tax over regressive tax.
