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प्रश्न
Under ______ the rate of tax increases with rise in tax payer's income.
Identify which of the following option is correct?
Under ______ the rate of tax increases with rise in tax payer's income.
विकल्प
Progressive taxation
Proportional taxation
Regressive taxation
Digressive taxation
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उत्तर
Under Progressive taxation the rate of tax increases with rise in tax payer's income.
Explanation:
- Under progressive taxation, the rate of tax increases as the taxpayer's income rises.
- This means that individuals with higher incomes pay a higher percentage of their income in taxes, which is designed to reduce income inequality and ensure that those who have the ability to pay more do so.
संबंधित प्रश्न
The major objective of monetary policy is ______.
Which of these taxes is most likely to be progressive?
The tax whose rate remains unchanged irrespective of the income of the taxpayer is called as ______.
Differentiate between direct and indirect taxes.
Define a degressive tax.
Citing reason state the advantage of a direct tax over an indirect tax.
Explain the term proportional taxation.
An indirect tax can be made progressive by imposing higher tax rates on luxuries. Justify the above statement.
Explain briefly two merits of indirect tax.
Explain how indirect taxes can be made progressive.
