Question
The Ability Principle of Taxation is given by
Answer: Option D
Answer: (d)
The ‘Ability-to-Pay’ principle of Taxation is one of the canons of taxation proposed by Adam Smith in his ‘Wealth of Nations.’
It is a progressive taxation principle that maintains that taxes should be levied according to a taxpayer's ability to pay. It is concerned with the equitable distribution of taxes according to the stated taxable capacity or ability to pay an individual or group.
The emphasis in this approach is put on the redistribution of income.
Was this answer helpful ?
Answer: (d)
The ‘Ability-to-Pay’ principle of Taxation is one of the canons of taxation proposed by Adam Smith in his ‘Wealth of Nations.’
It is a progressive taxation principle that maintains that taxes should be levied according to a taxpayer's ability to pay. It is concerned with the equitable distribution of taxes according to the stated taxable capacity or ability to pay an individual or group.
The emphasis in this approach is put on the redistribution of income.
Was this answer helpful ?
More Questions on This Topic :
Question 1. Full employment is a situation where
....
Question 3. ‘Galloping Inflation’ is also known as
....
Question 4. Personal disposable income is :
....
Latest Videos
Latest Test Papers
Submit Solution