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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 the statement is true for income tax?
How can tax be used as an instrument to bring about equitable distribution of wealth and income?
State the difference between income tax and expenditure tax.
Classify the following type of tax into direct and indirect taxes:
House tax
What is meant by regressive taxation?
What are progressive taxes.
Which one is better progressive or regressive taxation and why?
An indirect tax can be made progressive by imposing higher tax rates on luxuries. Justify the above statement.
Explain the following with examples:
Progressive tax
