The total amount of money received from its citizen to meet its expenditure is
Public Revenue
Government expenditure
Public expenditure
Public Debt
Assertion:
Cannon of equity means that there should be an equitable distribution of the burden of taxes.
Reason:
A progressive tax structure based on the fact that higher income group's ability to pay more taxes would satisfy this cannon.
Assertion is correct, Reason is wrong
Assertion is wrong, Reason is correct
Both Assertion and Reason are correct
Both Assertion and Reason are wrong
Which one of the following is the characteristics of a good tax structure?
Corporate Tax
Cannon of Simplicity
Cannon of Uncertainty
Cannon of Non-convenience
What is the full form of PAN?
Primary Account Number
Permanent Account Number
Permanent Agency Number
Permanent Area Number
The taxes on entertainment such as cinema and circus.
Surcharge
Turnover tax
Entertainment Tax
Excise duty
If a tax is levied on the sales of product, the price the consumers pay
Falls
Rises
Remains constant
Less than the price
Which one of the following is an example of direct tax?
Tax on income
Customs duty
Sales Tax
The benefits of consuming a good or service accrue to society as a whole.
Public goods
Private goods
Durable goods
Economic goods
Union Taxes are levied by
State Government
Central Government
RBI
Panchayat
Which one of the following is a good that is both non- excludable and non rivalrous ?
Public Good
Social Good
Private Good
Economic Good
