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Questions
Define a tax.
What is a tax?
What is mean by tax?
Define tax.
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Solution
A tax is a compulsory payment imposed on persons and companies by the government to meet expenditure incurred for the common good.
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RELATED QUESTIONS
The essential feature of a tax.
Which of the following is an advantage of direct taxes?
Under ______ the rate of tax increases with rise in tax payer's income.
Taxes in which the rate of tax remains the same, though the tax bases changes are called ______.
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.
Give two reasons why the government imposes tax?
State two drawbacks of direct taxes.
An indirect tax can be made progressive by imposing higher tax rates on luxuries. Justify the above statement.
How does the state fulfil the following socio-economic objective?
Reducing income inequality.
Explain the term Incidence of a tax.
