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

direct taxes

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revenues

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indirect taxes

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profits

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Solution

The correct option is D profits
Taxes are compulsory payments made to the government. They are of different types, direct and indirect taxes. Personal income tax and corporate tax are two types of direct taxes that are imposed on the income of individuals or profits of companies. The burden on such taxes cannot be shifted from one person to another.

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Similar questions

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

From the following data, calculate Personal Income and Personal Disposable Income.

		Rs (crore)
(a)	Net Domestic Product at factor cost	8,000
(b)	Net Factor Income from abroad	200
(c)	Undisbursed Profit	1,000
(d)	Corporate Tax	500
(e)	Interest Received by Households	1,500
(f)	Interest Paid by Households	1,200
(g)	Transfer Income	300
(h)	Personal Tax	500

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