Tax Systems
Trending Questions
Is income tax in India regressive in nature?
If people with higher incomes pay higher taxes, the system is called:
Value Added Tax
Progressive Tax
Sales Tax
Regressive Tax
Progressive tax is a tax which is:
Charged at a decreasing rate when income of the individual increases
Charged at an increasing rate when income of the individual increases
A fixed percentage of an individual income
None of these
A progressive tax is one which:
falls most heavily on the less well-off members of society
takes an increasing proportion of income as income rises
is levied on income and wealth
is levied on expenditure
State the basic difference between direct and indirect taxation. Give an example.
A consumer at the store purchases a new vacuum cleaner. At checkout, that consumer will have to pay an additional tax on that purchase- a sales tax. What type of tax is a sales tax?
Keynesian Tax
Personal Income tax
Proportional tax
Direct tax
- direct taxation policy
- protective taxation policy
- progressive taxation policy
- heavy taxation policy
Name two taxes which were imposed by union government but have now been now incorporated in GST.
Regressive tax is that which is:
Charged at an increasing rate when income of the individual increases
Charged at a decreasing rate when income of the individual increases
Relatively a low percentage of an individual's income
None of these
- net subsidies
- gross subsidies
- gross indirect taxes
- net indirect taxes
- Customs Duty
- Excise Duty
- Wealth Tax
- Service Tax
- loan
- tax
- financial aid
- deficit financing
- Direct tax
- Wealth tax
- Income tax
- Indirect tax
Define tax revenue. What are the two kinds of tax revenues? Give two examples of each.
- 1993-94
- 1994-95
- 1995-96
- 1998-99
- Direct Distribution Treaty
- Dividend Distribution Tax
- Delhi Denmark Treaty
- Direct Distribution Terminals
- Rs. 5 lakh
- Rs. 10 lakh
- Rs. 8 lakh
- Rs. 2.20 lakh
- Regressive tax
- All of the above
- Proportionate tax
- Progressive tax
- to avoid tax cuts
- increase in existing rates of taxation
- both (a) and (b)
- reduction in tax rates
- Expected tax increases due to demand for public works
- Economic hardship due to promises made in past years
- Greater overall prosperity due to an increased inner-city tax base
- Insufficient revenues due to a decrease in manufacturing
A tax of Rs. 100 on the sale of every car is:
Proportional tax
Progressive tax
Lump-sum tax
Direct tax
- Custom tax
- Sales tax
- Excise duty
- Income tax
- Capitation taxes
- Land revenues
- Taxes on agricultural income
- Corporation tax
- Rs. 50, 000
- Rs.30, 000
- Rs. 10, 000
- Rs. Nil
Are proportionate tax and proportional tax same?