USA HISTORY

MAKING OF A NEW NATION 1776 1800

THE WHISKEY REBELLION

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Who did the tax affect the most?
A
Tax collectors
B
Farmers
C
Bankers
D
Merchants
Explanation: 

Detailed explanation-1: -The tax imposed on crops was fixed at one-sixth of what was produced and was known as Bhaga or a share. It was the most important tax as most of the people were farmers.

Detailed explanation-2: -Agricultural Income [Section 10(1)] As per section 10(1), agricultural income earned by the taxpayer in India is exempt from tax. Agricultural income is defined under section 2(1A) of the Income-tax Act.

Detailed explanation-3: -Agricultural income is not subject to income tax. The Income-tax Act has, however, specified how such income is to be indirectly taxed. This is called the partial integration of agricultural and non-agricultural income.

Detailed explanation-4: -For the most part, the agriculture sector is exempted from GST in India. In essence, there is no GST on agricultural goods including fresh seafood, dairy, fruit, and vegetables. Because of this, GST is not a concern for any agriculture industry enterprises that do not engage in processing.

There is 1 question to complete.