Which of the following is a feature of the Indian tax system?
A. Only direct taxes
B. No progressive taxation
C. Both direct and indirect taxes
D. Only indirect taxes
Answer: Option C
Solution (By JKSSB Mock Tests)
The Indian tax system consists of both direct taxes (income tax, corporation tax) and indirect taxes (GST, customs duty), with progressive elements in direct taxes.
Explanation:
The budget line shows all possible combinations of two goods that a consumer can afford given his money income and the prices of the goods.
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