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The amount collected by the government as taxes and duties is known as _______
Capital receipts
Tax revenue receipts
Non-tax revenue receipts
All of these
- Capital receipts are funds raised by the government through means other than taxation. This includes loans or divestments.
- Tax revenue receipts are the funds collected by the government through taxes. Taxes include income tax, corporate tax, excise duty, etc.
- Non-tax revenue receipts are earnings by the government through activities other than taxation. This includes interests earned on loans and returns on government investments.
Correct Answer: Option 2 - Tax revenue receipts
Your answer is matched correctly with the description of tax revenue. It comprises the money gathered through various taxes and duties.
By: santosh ProfileResourcesReport error
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