Question : The non-tax revenue in the following is:
Option 1: Excise
Option 2: Tariff
Option 3: Escheats
Option 4: GST
Answer (1)
6th Jan, 2024
Correct Answer: Escheats
Solution : The correct answer is (c) Escheats.
Non-tax revenue refers to the income or revenue generated by the government through sources other than taxes. It includes various sources such as fees, fines, penalties, dividends, interest income, and escheats.
Escheats are unclaimed property or assets that revert to the state or government when the rightful owner cannot be identified or located. The government receives revenue from such escheated property, making it a form of non-tax revenue.
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