ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!


    тЪб Month End Offer - Flat 52% Off On All Courses! Enroll Now тЪб
    00:00:00 AM Left

    Question

    Which among the following is a Progressive Tax?

    A Customs Duty Correct Answer Incorrect Answer
    B Development Surcharge Correct Answer Incorrect Answer
    C Sales Tax Correct Answer Incorrect Answer
    D Income Tax Correct Answer Incorrect Answer

    Solution

    Income tax is a progressive tax, meaning that the tax rate increases as a person's income increases. In a progressive tax system, individuals with higher incomes are subject to higher tax rates, which is designed to distribute the tax burden more equitably based on one's ability to pay.

    Practice Next
    More Accounts Questions
    ask-question