Question
The 'Vertical Equity' principle of taxation implies
that:Solution
- Equity in taxation has two main principles:
- Horizontal Equity:  People with similar ability to pay  (similar income, wealth) should pay similar amounts in tax. (Option a describes this).
- Vertical Equity:  People with greater ability to pay  should contribute a larger proportion  of their income/wealth in taxes. This is the justification for progressive taxation , where the tax rate increases as the taxable amount increases. It is based on the concept of the "diminishing marginal utility of money."
Statements: U ≥ V = W; V > X ≥ Y; X ≥ Z < T
Conclusions
I. T > Y
II. Z < U
In the question, assume the given statements to be true. Find which of the following conclusion(s) among the three conclusions is/ are definitely true ...
Statements : C ≤ A < B ≤ D; E < B > F > G; I < H < G
Conclusions :
I. B > I
II. D > H
III. H < B
In the question, assuming the given statements to be true, find which of the conclusion (s) among given three conclusions is /are definitely true and t...
Statement: D > C > U < K > E > N < A
Conclusion:
I. D > N
II. D > A
Statements: A$K; E#N; K@E
Conclusions:
I) A$N
II) A@N
- Statement: L = N ≥ O ≥ P > R = Q > S = T
Conclusions:
I. S < O
II. L ≥ Q
III. P > T Statements: I > L < N ≥ T > H; L > G > P; U ≥ G = O
Conclusion:
I. O ≤ I
II. P < N
III. I > U
Statements: B > C ≥ D ≥ E; G ≤ F = E; I < H ≤ G
Conclusions:
I. C > H
II. I < E
III. B ≥ F
Statements: V ≤R = W ≥ Q, U = T ≥ S < X, U < Q
Conclusions: I. V < Q II. Q > X
