Income tax is a direct tax as its impact and incidence is on the same individual.

True

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

False

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A True
Income tax is a direct tax as its impact and incidence is on the same individual, its burden cannot be shifted to others.

Suggest Corrections

Similar questions

In a country’s income tax system, an individual can earn Rs. 20,000, before paying taxes. The marginal rate of tax is 25% on income up to Rs. 50,000 and 50% on income greater than that. How much tax will an individual pay if she earns Rs. 1,00,000?

Tax levied on value of total assets owned by an individual is income tax.

Income tax, corporate tax, inheritance tax etc. are incident on the person or organisation. These taxes are called:

Q. Personal income tax and corporate tax are two types of that are imposed on the income of individuals or of companies.

Q. The tax levied by the Union Government on income of individuals is known as ______.

Join BYJU'S Learning Program

Income tax is a direct tax as its impact and incidence is on the same individual.

The correct option is A TrueIncome tax is a direct tax as its impact and incidence is on the same individual, its burden cannot be shifted to others.

The correct option is A True
Income tax is a direct tax as its impact and incidence is on the same individual, its burden cannot be shifted to others.