Practicing Success
Read the following statements - Assertion (A) and Reason (R)carefully and choose the correct alternative given below: |
Both Assertion (A) and Reason (R ) are true and Reason(R) is the correct explanation of Assertion (A) Both Assertion (A) and Reason (R ) are true and Reason(R) is not the correct explanation of Assertion (A) Assertion (A) is true but Reason (R ) is false Assertion (A) is false but Reason (R ) is true |
Both Assertion (A) and Reason (R ) are true and Reason(R) is not the correct explanation of Assertion (A) |
Since 1991, there has been a continuous reduction in the taxes on individual incomes as it was felt that high rates of income tax were an important reason for tax evasion. It is now widely accepted that moderate rates of income tax encourage savings and voluntary disclosure of income. The custom duties were reduced considerably in the post reform period so that globalisation could be encouraged and trading could be done easily without barriers. |