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India follows the
India follows the
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Solution
The correct option is A progressive
In India, a progressive taxation system is followed for direct taxes. The income tax is levied based on the level of income—the higher the income, the higher the taxes. While the taxes are progressive for Indian companies, they are proportional at a flat rate of 40% for foreign companies.
In India, a progressive taxation system is followed for direct taxes. The income tax is levied based on the level of income—the higher the income, the higher the taxes. While the taxes are progressive for Indian companies, they are proportional at a flat rate of 40% for foreign companies.
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