Question : _____ is a ______ of receipts for the government which arises out of the property left by the people without a legal heir.
Option 1: Special Assessment, Capital receipts
Option 2: Grants, Revenue receipts
Option 3: Escheats, Revenue receipts
Option 4: Disinvestment, Capital receipts
Answer (1)
21st Jan, 2024
Correct Answer: Escheats, Revenue receipts
Solution : The correct answer is (c) Escheats, Revenue receipts.
Escheats refer to the legal process by which the property of a person who dies without a legal heir or will is transferred to the government. The government becomes the rightful owner of such property. The revenue generated from escheats is considered as revenue receipts for the government.
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