Tag: social science

Excise duty is an indirect tax levied on the production or sale of goods. Wealth tax, profit tax, and income tax are all direct taxes.

Incidence of taxation refers to the final resting place of the tax burden. While the impact is the initial payment, the incidence is who ultimately pays the cost.

Direct tax is levied (charge) on the income earned by individuals (income tax) and the profits of businesses (Corporate tax). 

Tariff barriers refers to various tariffs or duties imposed on foreign trade transactions to impose trade restrictions. Among the given options ad-valorem duty is tariff barrier, while the others are non-tariff barriers to trade.
Ad-valorem duty is imposed on import goods as percentage of the total value of goods imported.

The dematerialization of TDS certificates was introduced to streamline the tax deduction process, and it became effective from April 1, 2008.

MCC stands for the Marylebone Cricket Club, which is the custodian of the Laws of Cricket.

The Hambledon Cricket Club, formed in the 1760s in Hampshire, England, is widely regarded as the first major cricket club.

The word 'bat' is derived from an old English word meaning a stick or club.

The standard length of a cricket pitch between the two sets of stumps is 22 yards.

Cricket originated in the south-east of England during the 16th century.