Multiple choice

Temporary tax levied to obtain additional revenue is called

  1. FBT

  2. Duty

  3. Surcharge

  4. MAT

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A surcharge is an additional tax imposed over and above the base tax rate to generate extra revenue, typically for specific purposes or during emergencies. Unlike regular taxes, it is temporary in nature and can be levied on income tax, corporate tax, or customs duty.