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Question
Give an example of regressive tax.
Very Short Answer
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Solution
| Level of Income (₹) | Tax rate (₹) | Tax Amount (₹) |
| 1,00,000 | 10% | 10,000 |
| 2,00,000 | 8% | 16,000 |
| 3,00,000 | 7% | 21,000 |
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