Income tax is based on the principle of:

Related MCQs

• There is a view that reduced rates on income tax would lead to a significant rise in income tax revenue. This view has been attributed to
• Who suggested an expenditure tax as an alternative to income tax?
• A tax that takes away a higher proportion of one's income as the income rises is termed as a:
• An increase in tax rate when tax base expands represents:
• A tax levied at 5 percent on the first Rs. 10,000 of income, 10 percent on the next Rs 20,000 and 12 percent on the next Rs 30,000 would be:
• If the rate of tax falls with an increase in income, it is called:
• All other things being equal, a substantial cut in the rate of income tax in the short run is most likely to reduce:
• The Principle of Maximum Social Advantage is associated with:
• The principle of judging fiscal measures by the way they work is called:
• Principle of sound finance refers to