Multiple choice

All taxes come under

  1. Revenue receipts

  2. Capital receipts

  3. Debts

  4. Both (a) and (b)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

All taxes are classified as revenue receipts because they are regular, recurring income sources for the government that do not create any liability or reduce government assets. Revenue receipts include both tax revenue (income tax, GST, customs) and non-tax revenue (interest, dividends, fees). Capital receipts (like loans, disinvestment) create liability or reduce assets.

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