Which of the following statements is cor

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Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Question:

Which of the following statements is correct regarding the direct taxes?

I. Levied on taxable income earned by individuals and corporate entities.

II. Gift tax is a type of direct tax.

Options:

Only I

Neither I nor II

Both I and II

Only II

Correct Answer:

Both I and II