BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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canal tolls and fees for passports and copyrights
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payroll deductions for social insurance taxes
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a levy on the estate of a person who dies
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a levy on imports brought into the United States
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Detailed explanation-1: -Nontax revenues come from a variety of sources, including canal tolls; fees for passports, copyrights, and patents; interest earned; and selling philatelic stamps. Borrowing Congress has the power “[t]o borrow Money on the credit of the United States.” (Article I, Section 8, Clause 2).
Detailed explanation-2: -What is non-tax revenue in India? Interest Receipts, Dividends and Profits. Apart from receipts on account of interest on loans by the Central Government, this Section comprises dividends and profits from public sector enterprises.
Detailed explanation-3: -The correct answer is Interest tax.
Detailed explanation-4: -Non Tax Revenue Receipts are those revenue receipts that are not generated by taxing the public. Example of non-tax revenue includes revenue from power distribution, irrigation, banking services, insurance, and community services, etc.
Detailed explanation-5: -For example-fees, fines, escheats, gifts and grants, interest and dividends on investment, etc.