Question : Which of the following are not included in national income?
- Income from sale of property, inherited from a relative.
- GST received by government.
- Direct purchases made abroad by government.
- Purchase of equipments for installation in a factory.
Option 1: Only 1&2
Option 2: Only 2&3
Option 3: Only 3&4
Option 4: 1&3
Answer (1)
19th Jan, 2024
Correct Answer: Only 1&2
Solution :
Received from sale of property inherited from relative will not be included as it is sale of such property is by transfer of an already existing object.
GST received by the government is not a part of national income as it is an indirect tax in the compulsory transfer payment.
GST received by the government is not a part of national income as it is an indirect tax in the compulsory transfer payment.
Hence, Option A is correct.
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