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Question : Which of the following is an example of direct tax?

Option 1: Escheat

Option 2: Income Tax

Option 3: Custom Duty

Option 4: Goods and Services Tax


Team Careers360 10th Jan, 2024
Answer (1)
Team Careers360 17th Jan, 2024

Correct Answer: Income Tax


Solution : The correct option is Income Tax .

It is a tax imposed on individuals or entities in respect of the income or profits earned by them. In India, income tax, corporation tax, property tax, and gift tax are the most prevalent types of direct taxes. Furthermore, the ability of a person or entity to pay is the basis for direct taxation in India.

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