What is are the features of the Revenue Receipts of the Government The receipts recur or flow annual...........

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What is/are the features of the Revenue Receipts of the Government?

The receipts recur or flow annually to government corpus.
hey cannot be reclaimed from the government.

Which of the above is/are correct?

1 only

2 only

Both 1 and 2

None

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Explanation:

Statement 1: These are receipts of the government which are non-redeemable, that is, they cannot be reclaimed from the government. They are divided into tax and non-tax revenues.

Statement 2: Both tax and non-tax revenue occur annually to the government, i.e. they are a continuous source of income for the government. If there is a source of income that does not recur annually, it is usually classified as capital receipt, because it is generally a one-time receipt.