Advertisements
Advertisements
Questions
State two differences between income tax and commodity tax.
State two difference between tax on income and tax on a commodity.
Mention two points of distinction between tax on income and tax on commodity.
Advertisements
Solution
| S. No. | Income tax | Commodity tax |
| 1. | Income tax is a direct tax. | Tax on a commodity is an indirect tax. |
| 2. | Tax burden of income tax cannot be shifted to another. | tax burden on a commodity can be shifted wholly or particularly on to its buyers in the form of higher prices. |
APPEARS IN
RELATED QUESTIONS
The government imposes tax ______.
Which of the following is an advantage of direct taxes?
Monetary policy means regulation of money supply by the monetary authority.
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.
'The role of the State is important in developing the economic infrastructure of a developing economy'. Give two reasons to support your answer.
Classify the following type of tax into direct and indirect taxes:
House tax
What is meant by regressive taxation?
Which one is better progressive or regressive taxation and why?
Discuss four fiscal policy objectives with reference to India.
Differentiate between progressive and regressive taxes giving an example for each.
