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Question
______ are those taxes which are paid by the same person on whom they have been imposed.
Options
Proportional tax
Progressive taxes
Direct taxes
Indirect taxes
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Solution
Direct taxes are those taxes which are paid by the same person on whom they have been imposed.
Explanation:
- Direct taxes are those taxes which are paid by the same person on whom they have been imposed.
- Examples include income tax, property tax, and corporate tax, where the individual or entity directly pays the tax to the government without it being passed on to others.
RELATED QUESTIONS
Taxes in which the rate of tax remains the same, though the tax bases changes are called ______.
A policy under which the government uses its expenditure and revenue to produce desirable effect and avoid undesirable effects on the national income, production and employment. This defines ______.
The following table indicates:
| Tax Base in ₹ | Rate of tax in % |
| 10,000 | 8 |
| 20,000 | 8 |
| 30,000 | 8 |
| 40,000 | 8 |
State two objectives of fiscal policy.
Define direct tax
'The role of the State is important in developing the economic infrastructure of a developing economy'. Give two reasons to support your answer.
What are progressive taxes.
Give an example of Indirect tax.
An indirect tax can be made progressive by imposing higher tax rates on luxuries. Justify the above statement.
State three demerits of an Indirect tax.
