Advertisements
Advertisements
Question
Wealth tax is an example of:
Options
Direct tax
Indirect tax
Proportional tax
Degressive tax
Advertisements
Solution
Direct tax
Explanation:
Wealth tax is imposed on an individual's wealth, and that individual is required to pay the tax. A direct tax is one in which both the impact and the burden fall on the same individual.
APPEARS IN
RELATED QUESTIONS
Fiscal policy means public expenditure and tax policy of the government.
Observe the relationship of the first pair of words and complete the second pair:
Tax paid by person on whose it is imposed : Direct tax.
A tax is paid by some person and the final burden is born by some other person : ______.
Identify the tax which is most likely to faster civic conciousness.
Which of the statement is true for income tax?
Which of the following taxes generate civic consciousness among people?
To which tax is this shifting of tax burden relevant?
Explain the term proportional taxation.
Explain the term Incidence of a tax.
Give two examples of direct taxes.
Citing reasons state the superiority of Progressive tax over regressive tax.
