Question
Which of the following is considered a key principle of
taxation that ensures tax fairness by taxing individuals based on their economic capacity?Solution
The Ability to Pay Principle is a fundamental concept in taxation that mandates that taxes should be levied according to an individual's capacity to bear the tax burden. It supports progressive taxation, where those with higher income or wealth pay a higher proportion of their earnings as tax, promoting fairness and equity in the tax system. This principle contrasts with the Benefit Principle, which suggests taxpayers should be taxed according to the benefits they receive from public services.
What is Damodar Valley Corporation?
What does D stands for in GDP?
An 'out-worker' is expressly excluded from the definition of 'workman' under which one of the following legislations?
The formation of Simon Commission was announced on
In which Five-Year Plan were Removal of Poverty (Garibi Hatao) and Self-Reliance declared as major plan objectives?
The 'Kishori Balika Yojna" proposes to give balanced diet to the girls not going to school for _________ days in a year.
On _________, the Constituent Assembly set up a Drafting Committee under the Chairmanship of Dr. B.R. Ambedkar to prepare a Draft Constitution for India.
The President of 'Central Public Service Commission' can be removed by whom?
Trade liberalisation has helped India improve its _____________ in industries with medium-to-high technology content.
Radha Sridhar is associated with which of the following classical dance?
