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TAX SAVING TIP | PART 2 |...

TAX SAVING TIP | PART 2 |

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As we all know Government of India collects tax revenue on various activities in the country. Which of the following is a part of the tax revenue of the Government ? 1. Tax on Income 2. Tax on Expenditure 3. Tax on Property or Capital Assets 4. Tax on Goods and Services

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Consider the following : 1. Fringe Benefit Tax 2. Interest Tax 3. Securities Transaction Tax Which of the above mentioned is/are Direct Tax/ Taxes ?

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Which of the following is true about Value Added Tax (VAT) ? 1. It is a consumption tax levied on value added to the product on every stage of its production. 2. VAT is levied by the Union Government and only a small part goes to State Governments. 3. The income tax on retailers is now decided on the basis of their VAT collection in a year.

Which of the following statements are true for the Income Tax in India ? 1. It is a progressive tax. 2. It is a direct tax. 3. It is collected by the State Governments. 4. It is a proportional tax. Codes :