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Question
Give two examples of direct taxes.
Answer in Brief
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Solution
Examples of direct tax are as follows:
- Income tax
- Corporate tax
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RELATED QUESTIONS
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 |
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 ______.
Wealth tax is an example of:
Define a degressive tax.
To which tax is this shifting of tax burden relevant?
Classify the following type of tax into direct and indirect taxes:
Entertainment tax
Briefly explain why direct taxes foster civic consciousness among people.
Give an example of Indirect tax.
State the four merits of a direct tax.
Three demerits of an Indirect tax.
