ENTREPRENEURIAL PLANNING
FINANCIAL PLANNING AND ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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This tax is based upon the value of land and buildings.
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income tax
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sales tax
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gift tax
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real estate property tax
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Explanation:
Detailed explanation-1: -An ad valorem tax is a tax derived from the value of real estate or personal property.
Detailed explanation-2: -ad valorem tax, any tax imposed on the basis of the monetary value of the taxed item.
Detailed explanation-3: -Property Tax, also sometimes known as House Tax, is the tax imposed on real estate owners by the municipal authorities like panchayat, municipality or municipal corporation.
Detailed explanation-4: -Municipal Tax The local municipality authority levies municipal taxes on house properties. You can claim such municipal taxes including any service tax as a deduction from the gross annual value.
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