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प्रश्न
Wealth tax is an example of:
पर्याय
Direct tax
Indirect tax
Proportional tax
Degressive tax
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उत्तर
Direct tax
Explanation:
Wealth tax is imposed on an individual's wealth, and that individual is required to pay the tax. A direct tax is one in which both the impact and the burden fall on the same individual.
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संबंधित प्रश्न
Taxes in which the rate of tax remains the same, though the tax bases changes are called ______.
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 |
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 |
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.
Distinguish between fiscal policy and monetary policy.
Define direct tax
Define a degressive tax.
Citing reason state the advantage of a direct tax over an indirect tax.
An indirect tax is not always equitable. Give two reasons to support your answer.
An indirect tax can be made progressive by imposing higher tax rates on luxuries. Justify the above statement.
