Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

What are the taxes imposed on incomes of individuals known as?

Options:

Indirect tax

Direct taxes

Tariffs

Any of the above

Correct Answer:

Direct taxes

Explanation:

The correct answer is Option 2: Direct taxes

A direct tax is a tax that a person or organization pays directly to the entity that imposed it. Examples include income tax, real property tax, personal property tax, and taxes on assets, all of which are paid by an individual taxpayer directly to the government. The burden of the tax is directly borne by the individual.