An example for indirect taxation?
Taxation on personal incomes
Taxation on corporate profits
Taxation on wealth / profits
Taxation on exports
If the tax rate decreases as income increases, it is
Progressive Tax
Regressive Tax
Corporate Tax
Proportional Tax
The total amount of money received from its citizen to meet its expenditure is
Public Revenue
Government expenditure
Public expenditure
Public Debt
What is the main objective of public expenditure ?
Economic welfare
Non Economic welfare
Social Welfare
Cultural Welfare
Union Taxes are levied by
State Government
Central Government
RBI
Panchayat
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
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 the characteristics of a good tax structure?
Cannon of Simplicity
Cannon of Uncertainty
Cannon of Non-convenience
Which one of the following is an example of Non- Tax Revenue?
Penalities and Fines
Income Tax
Sales Tax
Property Tax
The Government spends for the benefit of public is known as
Budget Deficit
Capital Expenditure