GK
INDIAN ECONOMY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
The minimum effect of direct taxes is on
|
|
food price
|
|
|
consumer goods
|
|
|
capital goods
|
|
|
income
|
Explanation:
Detailed explanation-1: -The minimum effect of Direct Taxes is on income.
Detailed explanation-2: -A direct tax is an equitable tax. Through it the rich can be made to pay more than the poor. In case of necessity, the poor people can be granted exemption from payment of such taxes. A direct tax is equitable in the sense that it is levied according to the taxable capacity of the people.
Detailed explanation-3: -Direct taxes are one type of taxes an individual pays that are paid straight or directly to the government, such as income tax, poll tax, land tax, and personal property tax.
Detailed explanation-4: -Hence, income tax is a direct tax because it is imposed on the individual.
There is 1 question to complete.