Question
Which of the following taxes is such which does not cause rise in price ?
Answer: Option B
Answer: (b)
The government of India imposes an income tax on taxable income of individuals, Hindu Undivided Families (HUFs), companies, firms, co-operative societies and trusts (identified as the body of individuals and association of persons) and any other artificial person.
Levy of tax is separate on each of the persons. The levy is governed by the Indian Income Tax Act, 1961. It does not lead to an increase in price as it is dependent on the income of individuals.
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Answer: (b)
The government of India imposes an income tax on taxable income of individuals, Hindu Undivided Families (HUFs), companies, firms, co-operative societies and trusts (identified as the body of individuals and association of persons) and any other artificial person.
Levy of tax is separate on each of the persons. The levy is governed by the Indian Income Tax Act, 1961. It does not lead to an increase in price as it is dependent on the income of individuals.
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