Match the following:

1-A, 2-D, 3-B, 4-C

Direct taxes are the taxes whose burden directly falls on the individual. They are progressive in nature which means that the burden on the rich is more as compared to the poor. Whereas, the burden of indirect taxes falls directly on the manufacturers and indirectly on the consumer. They are regressive in nature which means that all pay the same amount of tax irrespective of their income level. Capital receipts are the receipts that either create liability or reduce the assets of the government. They are non-recurring in nature. Whereas, revenue receipts are those receipts that do not effect the assets and liabilities status of the government. They are recurring in natrue.