Question : Which of the following is not an example of direct tax?
Option 1: property tax
Option 2: tax on assets and gift to the government
Option 3: service tax
Option 4: income tax
Correct Answer: service tax
Solution : (c) Service tax
Service tax is not an example of a direct tax. Service tax is a form of indirect tax that is levied on the provision of specific services. It is typically imposed on the value-added by service providers and is ultimately passed on to the consumers of those services.
On the other hand, direct taxes are taxes that are directly imposed on individuals or entities based on their income, wealth, or assets.
Question : Which of the following is an example of an indirect tax?
Option 1: Property tax
Option 2: Income tax
Option 3: Sales tax
Option 4: Corporate tax
Question : Which of the following is an example of a non-tax revenue for a government?
Option 1: Income tax
Option 2: Sales tax
Option 3: License fees
Option 4: Property tax
Question : Which of the following is an indirect tax?
Option 3: Property tax
Option 4: Excise tax
Question : Which of the following is an example of direct tax?
Option 1: Escheat
Option 2: Income Tax
Option 3: Custom Duty
Option 4: Goods and Services Tax
Question : ___________ refers to the tax that are imposed on property and income of individual income and their burden can not be shifted.
Option 1: Direct tax
Option 2: Indirect tax
Option 3: Non tax revenue
Option 4: Tax revenue.
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