Progressive tax is a tax which is:

Charged at a decreasing rate when income of the individual increases

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Charged at an increasing rate when income of the individual increases

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A fixed percentage of an individual income

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None of these

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Solution

The correct option is B
Charged at an increasing rate when income of the individual increases

The progressive tax takes a larger amount as tax from higher income groups.

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Similar questions

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Q. Identify the tax system in which the tax rate decreases with increase in income.

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Progressive tax is a tax which is:

The correct option is B Charged at an increasing rate when income of the individual increases The progressive tax takes a larger amount as tax from higher income groups.

The correct option is B
Charged at an increasing rate when income of the individual increases

The progressive tax takes a larger amount as tax from higher income groups.