BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Consumption tax
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Indirect tax
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Privilege tax
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Income tax
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Detailed explanation-1: -(13) “business” includes any trade, commerce or manufacture or any adventure or concern in the nature of trade, commerce or manufacture; (14) “capital asset” means property of any kind held by an assessee, whether or not connected with his business or profession, but does not include-
Detailed explanation-2: -There are two types in the Indian business tax system, Direct Tax, and Indirect Tax.
Detailed explanation-3: -Business Privilege Tax Rate The rates range from $0.25 to $1.75 for each $1, 000 of net worth in Alabama. The minimum business privilege tax is $100.
Detailed explanation-4: -Taxation Principles are guidelines that help lawmakers and governing bodies formulate strategies and plan their execution to ensure a robust tax structure to increase revenues and bring social and economic equality to its citizens.