BUISENESS MANAGEMENT
TAXES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Federal income taxes are used to pay the interest on the national debt. (True/False)
|
|
True
|
|
|
False
|
|
|
Either A or B
|
|
|
None of the above
|
Explanation:
Detailed explanation-1: -Taxes are used by the government for carrying out various welfare schemes including employment programmes. There are Lakhs of employees in various departments and the administrative cost has to be borne by the Government.
Detailed explanation-2: -The word Income has a very broad meaning. It generally means a monetary return whether received in cash or kind. The income tax department does not make any distinction between temporary and permanent income. Every the temporary income or one time income is taxable.
There is 1 question to complete.