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प्रश्न
The essential feature of a tax.
विकल्प
A compulsory payment
A legal payment
Both Compulsory payment and legal payment.
Neither Compulsory payment nor Legal payment
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उत्तर
Both Compulsory payment and legal payment.
Explanation:
A tax is both a compulsory payment and a legal payment. It is compulsory because it is mandatory for individuals and businesses and legal because taxes are imposed and collected under the authority of the law.
संबंधित प्रश्न
______ is an example of commercial revenues.
Observe the relationship of the first pair of words and complete the second pair:
Tax paid by person on whose it is imposed : Direct tax.
A tax is paid by some person and the final burden is born by some other 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 |
Define fiscal policy.
Citing reason state the advantage of a direct tax over an indirect tax.
Give two reasons why the government imposes tax?
Draw a neat labelled diagram for progressive taxation.
Explain clearly tour ways by which the state can promote economic growth and development.
Three demerits of an Indirect tax.
Define the following term:
Fiscal deficit
