Multiple choice

Which of the following statements is true about Income Tax?

  1. It is regressive in nature in India.

  2. It is charged on goods produced.

  3. It is charged on the profit of corporate.

  4. It is progressive in nature in India.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

This statement is true about income tax. The income tax is progressive in nature in India, as the rate of income tax increases with the increase in income. The poor have to pay no tax and the rich have to pay more tax.

Keep practicing — related questions