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Tax Rates Depending on Age of Individual

No tax is lev...

Question

No tax is levied up to a certain limit of taxable income. This is called ______.

A

threshold income

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B

basic exemption limit

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C

poverty line

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D

secondary income

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Solution

The correct option is B basic exemption limit
No tax is levied up to a certain limit of taxable income.
This is called Basic exemption limit.

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