Question : Which of the following is not a source of government revenue?
Option 1: Direct taxes
Option 2: Indirect taxes
Option 3: Corporate taxes
Option 4: None of the above
Correct Answer: None of the above
Solution : The correct answer is (d) None of the above.
All the options listed direct taxes, indirect taxes, and corporate taxes—are sources of government revenue.
Direct taxes refer to taxes levied directly on individuals or entities, such as income tax, wealth tax, and property tax.
Indirect taxes, on the other hand, are imposed on the sale or consumption of goods and services. Examples include value-added tax (VAT), excise duty, and customs duty.
Corporate taxes are taxes levied on the profits earned by companies or corporations.
All of these taxes contribute to the government's revenue and are essential sources of income to fund public expenditure and finance government operations.
