Indian Economy

General Studies (MTS) SSC (MTS)

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Indian Economy - Understanding the basics of Indian economic system

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Which among the following is an example of progressive tax?

Excise duty

Octroi

Income tax

House tax

Explanation:

progressive taxation, the tax liability increases with individual or entity income. This is based on principle of “ability to pay”. Under this system, lowest income people are generally exempted while highest income people pay highest taxes. Income Tax is thus an example of progressive tax.

By: MIRZA SADDAM HUSSAIN

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