Consider the following statements regarding tax proposed in Budged 2015-16-1- No change has been proposed in rate of personal Income Tax-2- Proposal has been made to reduce corporate tax from 30 - to 25 - over next four years-3- Wealth tax has been replaced with additional surcharge of 2 per cent on super rich with a taxable income of Rs- 1 crore annually-Which of the above statements is - are correct-

The correct option is A All of these All the statements are correct hence answer (d) is correct. ...

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Standard VIII

Mathematics

Finding Sales Tax / VAT

Consider the ...

Question

Consider the following statements regarding tax proposed in Budged 2015-16:

Which of the above statement(s) is / are correct?

2 and 3 only

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1 and 3 only

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1 and 2 only

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All of these

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Solution

The correct option is D
All of these

All the statements are correct hence answer (d) is correct.

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One tax-reform proposal that has gained increasing support in recent years is the flat tax, which would impose a uniform tax rate on incomes at every level. Opponents of the flat tax say that a progressive tax system, which levies a higher rate of taxes on higher-income taxpayers, is fairer, placing the greater burden on those better able to bear it. However, the present crazy quilt of tax deductions, exemptions, credits, and loopholes benefits primarily the high-income taxpayer, who is consequently able to reduce his or her effective tax rate, often to a level below that paid by the lower-income taxpayer. Therefore, ___.

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Consider the following statements regarding tax proposed in Budged 2015-16: Which of the above statement(s) is / are correct?

The correct option is D All of these All the statements are correct hence answer (d) is correct.

Consider the following statements regarding tax proposed in Budged 2015-16:

Which of the above statement(s) is / are correct?

The correct option is D
All of these

All the statements are correct hence answer (d) is correct.