Taxation

Income tax is levied on

• monthly basis

• yearly basis

• half-yearly basis

• quarterly basis

Sum of various heads is called

• gross total income

• taxable income

• total income

• none of these

Personal taxes include:

• Land tax

• VAT

• Duty

• Income tax

A direct tax cannot be shifted to another.

• True

• False

State taxes include:

• VAT

• hotel tax

• advertising tax

• utility tax

The source of tax payment is:

• wages

• profit

• interests

• all answers are correct

It is the privilege of not being imposed a financial obligation to which others are subject:

• tax credit

• tax amnesty

• tax incentive

• tax exemption

Which country does not have VAT:

• Australia

• Mexico

• USA

• Canada

The tax period for excises is recognised:

• calendar year

• calendar month

• quarter

• all answers are incorrect

Indirect taxes include:

• VAT, excises

• Income tax, inheritance tax

• Properly tax, land tax

• All answers are correct