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Direct tax is a tax which is imposed on
- a)Individuals only
- b)Individuals and corporations
- c)Corporations only
- d)None of these
Correct answer is option 'B'. Can you explain this answer?
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Direct tax is a tax which is imposed ona)Individuals onlyb)Individuals...
Direct taxes are levied on individuals and companies by the country's supreme tax body. Direct taxes are directly paid by those on whom it is imposed. For instance, taxpayers directly pay income tax, property tax, tax on assets and gifts to the government.
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Direct tax is a tax which is imposed ona)Individuals onlyb)Individuals...
Direct Tax:
A direct tax is a tax that is imposed directly on individuals or entities. It is levied on the income, profits, or wealth of the taxpayer. The burden of the tax cannot be shifted to someone else.
Options:
Let's evaluate each option to determine which one correctly describes direct tax:
A. Individuals only:
This option suggests that direct tax is imposed solely on individuals. However, this is not entirely accurate as direct taxes can also be imposed on entities other than individuals.
B. Individuals and corporations:
This option correctly states that direct tax can be imposed on both individuals and corporations. This is the most accurate description of direct tax.
C. Corporations only:
This option suggests that direct tax is imposed exclusively on corporations. While corporations are subject to direct taxes, individuals can also be liable for direct taxes.
D. None of these:
This option implies that none of the given options accurately describe direct tax. However, option B is the correct answer.
Conclusion:
Direct tax is a tax that can be imposed on both individuals and corporations. Therefore, option B, "Individuals and corporations," is the correct answer.
A direct tax is a tax that is imposed directly on individuals or entities. It is levied on the income, profits, or wealth of the taxpayer. The burden of the tax cannot be shifted to someone else.
Options:
Let's evaluate each option to determine which one correctly describes direct tax:
A. Individuals only:
This option suggests that direct tax is imposed solely on individuals. However, this is not entirely accurate as direct taxes can also be imposed on entities other than individuals.
B. Individuals and corporations:
This option correctly states that direct tax can be imposed on both individuals and corporations. This is the most accurate description of direct tax.
C. Corporations only:
This option suggests that direct tax is imposed exclusively on corporations. While corporations are subject to direct taxes, individuals can also be liable for direct taxes.
D. None of these:
This option implies that none of the given options accurately describe direct tax. However, option B is the correct answer.
Conclusion:
Direct tax is a tax that can be imposed on both individuals and corporations. Therefore, option B, "Individuals and corporations," is the correct answer.
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Direct tax is a tax which is imposed ona)Individuals onlyb)Individuals and corporationsc)Corporations onlyd)None of theseCorrect answer is option 'B'. Can you explain this answer?
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